It is strange that GNM management is silent on carbox tax impact...

It is strange that GNM management is silent on carbox tax impact on the company's business.

Under Australian law, the management has an obligation to tell the shareholders/market about any impact on the company's earning. Carbon tax certainly has great impact on GNM, but they are totally silent.

The parent company, Gujarat NRE Limited, holds ~70% of GNM. This raises a number of questions :

1) Gujarat NRE did not participate in the capital raising on Feb 2011 at $0.72/share. They know well about the large amount of CO2 emmitted by GNM. Did they foresee the huge negative impact of carbon tax on GNM ?

2) GNM's chairman, Mr. Arun Kumar Jagatramka is also the chairman of the parent company (Gujarat NRE). To him, GNM is merely a vehicle to supply coking coal to the parent company (Gujarat NRE). Secure supply of coking coal to Gujarat NRE is more important than GNM's profitability.

Unlike other Australia companies having some assessments on the impact of carbon tax, GNM's chairman did not communicate with GNM shareholders at all. Probably the carbon tax is not a major concern for him ? Because to him, if GNM does not generate any profit due to the carbon tax, it does not matter as long as the supply of coking coal to the parent company (Gujarat NRE) is maintained ?