scandal...I also currently hold INR, for the very reason I could...

scandal...

I also currently hold INR, for the very reason I could see this coming.

Whilst an absolute bargain for INR, acquiring GUJ and combining to make one entitiy will be significantly valuable for all shareholders...of both companies.

My view is simply that as a GUJ holder, we deserve more of the ultimate pie given what we bring to the table...not only in terms of pure asset value (quality hard coking coal reserves), but also the metals mix, including near-term drilling in Tasmania...but the main value "carrot" here is to be found in the critical mass of a combined entity mostly on the back of the Elouera/Avondale infrustructure, which in my view is at the heart of GUJ's value.

GUJ is providing 2 out of three key assets in the combined entity...with significant infrustructure and additional metals assets to boot...it really is hard to get ones head around the idea this is in any way being achieved with GUJ shareholders interests at heart.

Perhaps someone should remind management their job is to maximise shareholder wealth...not flog it off as part of some "gift" to the major shareholder.

INR clearly want to reach critical mass...they also want to fix their liquidity issues, they want to remove "single asset" risk from INR, they want our Elouera infrastructure, they want our cash, they want our coal reserves, they want our metals assets...well...let them pay a fair price for it.

There is no question in my mnd INR is well on the way to $1+ prices in the mid-term, as what we have developing here is a mega story at its infancy, as such, this will eventually be a very good deal for all GUJ holders...but it should be a whole lot better!

Gujarat's Indian exchange story, rising some 1000% in ten or so years, is a campelling reference to their obvious plans for our exchange.

GUJ holders will likely do well out of this...especially if the market realises the bargain basement price INR have picked us up for. In fact, I can see the potential for a very attractive derivative trading period for GUJ on the back of considerable interest for INR (perhaps with some help from supporters?).

Certainly an interesting period ahead...although I am not sure how much premium will be built in this far out from voting.

Cheers!