HiNearly 6 weeks in this market and GNM is now below $1.00 - bid...

Hi

Nearly 6 weeks in this market and GNM is now below $1.00 - bid .65, offer .85 as I write.
I don't know what's going on with this company, except it's being bought back by the parent company Gujarat NRE Coke Ltd. The latest unaudited financial report is very positive, almost all values having more than doubled until September 2008, but one para probably says it all;

".....the Promoters of the company have acquired more than 82 lac shares during September/October 2008 as part of the creeping acquisition from the share market."

Gujarat NRE Coke Ltd (India) now own 84.85% of GNM.

I thought this share was a sure thing, it now looks like the last retail holders are going to be flushed out at the low prices this market offers. Why did they bother to float it on the sharemarket?

Is it worthwhile holding out? any opinions, anyone?
I have recommended this share to friends and bought it for my family as well.

Cheers

Taurisk