SINGAPORE (Mar 26): Two Australian mining consultants commissioned to value the rare earth mining concession in Madagascar that ISR Capital is trying to acquire have been suspended by the Australasian Institute of Mining and Metallurgy (AusIMM). This comes as the Singapore Exchange is planning to introduce additional listing requirements for companies in the minerals, oil and gas (MOG) sector, and as the authorities prosecute the individuals said to be behind the penny-stock debacle of 2013.

According to a notice in the February 2018 issue of AusIMM Bulletin, Brian Davis of Geologica and Allen John Maynard of Al Maynard & Associates have been slapped with fourand six-month-long membership suspensions. AusIMM’s Ethics Committee took this move after a “single complaint” about work done by Davis and Maynard for the same “early development mineral deposit”.

When contacted by The Edge Singapore, Maynard confirmed that he had been suspended. He also confirmed that the valuation work in question was for the rare earth concession in Madagascar that ISR is trying to acquire. Davis did not respond to a request for comment.

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