MACARTHUR Coal has made a friendly $668.5 million takeover offer...

MACARTHUR Coal has made a friendly $668.5 million takeover offer for Gloucester Coal to diversify the coal products it produces.

Gloucester produces 2 mtpa. 75% Thermal Coal and 25% Coking Coal.

It made an $81 million profit last financial year.

Rey have 2 mtpa chalked down, although some time away and 20 mtpa even later down the track.

Clive Palmer, Crosby and GNM see some value.

So what is wrong with the REY story at this stage.

Crosby are pretenders only holding 500,000 shares.
GNM are in the fairies.
Clive Palmer ambushing Rey in the courts.

Surely someone out there sees Reys value.

The mob next door have 3 Mou's with Chinese giants. No resource for the 50th time.

China and India facing severe Coal shortages.

Rey control entire western seaboard. Unlike!
Newcastle coal ships queue longest in two years as exports slow

http://en.in-en.com/article/News/Coal/html/2009122215521.html

Everything you could want is in Rey's favour.

Yet no corporate action from the heavyweights wanting offtake deals, financing, no adequate takeover offers.

It seems Rey has the measles.

regards