hopefully the bids have been received, page-6

I don't know webk. I'm thinking if they really had an offer worth multiples and they were discussing it with the board and advisors, they would be halted now. I'm guessing as expected no decent bids. Why would you bid with historical cash burn, coal prices wallowing at the lows and strike problems in SA. Look at CZA the other day, offered workers more than 20pc pay rise and they turned it down. No wonder CCC got a little revenue rise out of Escom which provided a honeymoon period for Vlak. I'd say the honeymoons over I'm afraid. With still no evidence of any drawing of the bank deal, consequences of no decent bids could be fairly dire I'd say. That is, they will need to sell in distress to meet holdco obligations with Penn still a work-in-progress. All speculation of course, I suppose anything could happen at this stage.