Ann: Independent Expert confirms merger is Reasonable, page-3

Appalling assessment. Does not review WHY the MLM SP is as low as it is. Namely due to failing to get the approval for a simple haul road! Otherwise the SP would have been 2 digits by now with MLM selling its bauxite. No mention of the haul road what so ever. And no consideration of the risks on Melior side regarding actually getting the mine going which already failed twice.

Terrible piece of work which does not seem to have done any kind of proper due dillegence. What a piece of litter. Wonder how much MLM paid for that!? Makes me want to throw up!