There are a couple of obvious questions but hte way it has been...

There are a couple of obvious questions but hte way it has been described by the MD and the nature of the consideration appears more credible than KCG.
The mercury content would normally attract a significant penalty from the smelter and I would be seeking clarification of this aspect.
The potential size of the operations, treating around 600,000 tonnes of ore per annum, also appears realistic from a general industry rule point of view. I would be curious to know what depth they are currently mining and the current/proposed mining method.
SMO's comment as to infrastructure also place it as a significant advantage to KCG
The major disadvantage SMO has as compared with KCG is that the Kennel Club has a wider following with the punters , usually as a result of massive spruiking of crud assets coupled with some dubious management over the years!
Other queries on SMO include where /how did this opporunity arise, what is the reserve postition as opposed to the resource position, and some idea of the exploration potential.
Good punting.!