latest report, page-7

Paperclip,
the thought with MMTC is a good one, but they specify looking for coking coal in Oz, and GCL does not have much of that. However you are correct that it is likely to be taken over, and it is at a cheap PE, however its cost for thermal coal is high and it would not take much of a fall in thermal prices to make them unprofitable there, and ouput of coking coal @ .6 Mil ton is not much to rave about. Have you looked at their proposal for extending to underground mining ?