Broker models though are very high-level, draw heavily on prior...

Broker models though are very high-level, draw heavily on prior results and are built from the limited short-term guidance that an ASX company can provide. Being close to consensus and current share price influences how valuation metrics are determined.

Whereas the Independent Expert will spend a large amount of time working through management forecasts, interviewing senior execs, deep dive into contracts and liabilities, examine technical reviews performed by outside groups on whole of life mine plans (base plans and upsides), look at a range of prices, and they will look asset by asset.

They are very different.

Hartleys also helped Atlas re-list, so while I assume the chinese wall held, not fully independent.