new scheme independent report needed

Hi All.

Tidying up again and I have had a quick read of some of the Optiro Valuation of the mineral assets and Ernst & Young reports into the Scheme Booklet.

My reading of these items leads me to believe there HAS to be a New Report done.
The reasons are to do with the figures have changed since the First Scheme Booklet was printed and issued.
If share holders have to vote on the first Scheme Booklet,we are voting on out of date figures. They No longer apply to this take over.

The Valuation that was done and the way that Optiro did it is different now to what it was then.
Their valuation was partly based on the Price of Iron Ore Sales Price over the next 4 years. Included was.

For more advanced exploration projects,where a resource or an exploration target tonnage has been defined,the property can then be valued in terms of dollar per tonne of resource or exploration target.

Sundance Resources iron ore sales were based on 2013 60%Fe = $103.98 at 62%Fe = $107.446 per tonne.
For 2014 at 60%Fe = $85.26 per tonne, For 2015 = $88.98 per tonne and 2016 = $79.80 per tonne. These prices were worked out on Australian based iron ore assets.

Another item. Optiro has elected to attribute the value of the transaction to the defined indicated and/or inferred resources and to the exploration target discounted by 50%.
Not sure if the Ore Reserves have been included in the valuation. I thought most of the iron ore was now in the reserve category class. Also exploration targets are now I believe in the range of 9.2 to 13.2 Billion tonnes on top of the previous 4.3 Billion tonnes that had been announced.

There are other interesting bits that I believe should lead to a NEW Valuation and Scheme Booklet being issued.

So again talk of extra iron ore being added to our total resource and not making any difference and Exploration Target being of no use and do not count is not right by reading the Optiro Valuation of Sundance Resources.

It is just my Opinion.

Regards
Westcott.