lets look at the facts, page-13

Now Portman have 10% and also a blocking stake. This opens up a whole new set of positives for GWR. If Portman allow use of rail facilities etc then everyone including even Fairstar will be much better off. This should run back up toward $2 pretty quickly after opening. If Fairstar cooperate with Portman their holding will be worth a lot more one week from now with 21 million shares (X$2 or more) than last week with 36 million shares (X 88 cents). Hopefully they get to sue ANZ as well.
Also, the big sellers may have oversold unless others like me bought some and then sold.