Regardless of the outcome of this takeover, at minimum the FIRB...

Regardless of the outcome of this takeover, at minimum the FIRB should review it, learn from it, and examine policy guidelines so there can never be a repeat. There are a number of issues which should trouble the regulators.

1. Would the FIRB have given approval given what they know now about the excessive conditionality of the takeover. When they gave approval, had they done sufficient due diligence on the bidder?

2. How have ASIC and the ASX permitted the leakage of price sensitive information to the market without proper authorisation or questioning?

3. What is to prevent other junior miners from being subjected to effectively a lock-up period of over 15 months while the bidder sorts out what it should have had in place before it tabled the bid?

4. What protections will be put in place in the future for retail investors in Australian mining companies to prevent the opportunistic behavior that we have witnessed in this takeover?

The FIRB and ASIC should review this takeover from the day that Hanlong became a player.