Pursuits
Siberian Mining Hires New Mineral Expert After Hong Kong Scandal
- Earlier report questioned after author Tso was investigated
- Tso wrote mining reports for at least 15 listed companies
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Siberian Mining Group Co., one of more than a dozen Hong Kong companies whose valuation and mineral deposit reports were questioned by a High Court judge, hired a new expert to review its coal deposit in Russia.
SMG said in a filing Tuesday that its main asset, the Lapichevskaya mine in the remote Kemerovo region, had been reappraised by a "reputable technical expert." The review comes four months after it argued that its original report, used to support a $443 million convertible note, was valid even after the author, Herman Tso Chi-ming, tried to withdraw it. Tso was expelled from the Australasian Institute of Mining and Metallurgy in June after an investigation by the industry body questioned his academic qualifications.