Definitely have to agree with you there rhsurfer. MOU with Kailuan Energy was out of the blue and probably spooked Jindal quite a bit given their size.
Benny has to be careful here though, Jindal weren't afraid to back away last time negotiations fell through.
RCI's board has been in a holding pattern for quite a while now and it's been dreadful to watch.
I imagine Benny/company will come out with a statement rejecting the offer as being opportunistic and too low, and then hopefully the horse trading begins.
RCI Price at posting:
19.0¢ Sentiment: Buy Disclosure: Held