Its just a left field idea but some of that information may be...

Its just a left field idea but some of that information may be available from the QLD Dept of Mines (the regulator) as SMC would have had to provide some decent documentation/justification for the granting of the additional mining leases, not saying that the QLD Dept of Mines would give that info out to anyone but there may be some public consultation (publicly available) info from the QLD regulators that people may be able to access.

Have followed this thread only partly but have started to follow the logic that @goldnerd has been using, lots of info to digest especially since it requires time to get a handle on the history of the company and project:

Counting on ASIC intervening = higher chance of being hit by an asteroid...

Going the Takeovers Panel route for declaration of unacceptable circumstances - looks like someone tried it as per this link:

http://www.takeovers.gov.au/content/DisplayDoc.aspx?doc=reasons_for_decisions/2020/008.htm

And the Takeover Panel decided to ignore any Valuation Opinion report or indeed the Independant Expert Opinion with this sentence, in the submissions section drew my attention:

"...submission from the Applicant requesting that we receive a valuation opinion report which was commissioned by the Applicant and other Strategic Minerals shareholders in November 2017. The Applicant submitted that the report was relevant because it detailed key data requirements to populate the PFS. We decided not to receive the report; we did not consider it materially relevant given the reasoning behind our decision."

It seems the beauty of the Takeovers Panel is its timeliness and decisiveness but this can sometimes be a double edged sword as they will tend to ignore anything detailed as it tends to drag out the time-frames for decision making, you can even see in the Panel decision their implication that there is nothing to stop another court looking at more details later on. Not much help to shareholders with the clock ticking on a compulsory acquisition.

One other avenue is ASIC but via the JORC Committee Code of Conduct all about the AMC Independant Experts Report vs the other earlier IER's - this is a bit of closing the gate after the horse has bolted stuff, but I found the 2018 AMC Independant Expert Report and saw their 'Transaction Yardstick Values' table, some pretty dubious and old stuff there in my opinion, and a sample population of only 6 that is ridiculously small and typically with deposits that have a lot more resources in the inferred category than what SMC now have, I think the authors have driven a truck through the VALMIN code on this one, it took me just a few minutes of research to blow holes in their sample group of 6 'Yardstick' transactions - their chosen yardsticks in 2018 weren't fit for purpose:




As for those comments about the "mine's remote location and the lack of gold mining expertise in Queensland" - thats just hilarious - has Mr Wallin ever heard of some little places called Pajingo, Mt Leyshon, Ravenswood, Mt Carlton, Cracow, Thalanga, Red Dome, Ernest Henry, Cannington, Balcooma/Surveyor, Highway/Reward etc etc, and if you want remote - think Osborne, Cannington and Century when they were first set up.

Don't forget - slow Covid-19 snail mail and financial regulators all working from home in their PJs means that opportunistic corporate stuff is even easier to fly under the radar or sneak through at the moment.