Dear tangey99,Thanks for posting Warden Cleary's decision. The...

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Sherlock Buffet

2,980 Posts.

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08/03/24

22:46

Post #: 72823119
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Originally posted by tangey99: ↑

Separately from the above, there was a warden court decision at the end of last year that went against Bullzeye on some lesser developed/less important tenements. Basically they had asked for a number of exemptions to required expenditure for a dozen or so tenements. This goes back to 2018-2020, during which time Red5 had made a pitiful offer for Bullzeye. The decision was only finalised end of 2023.

Bullzeye argued that because of the ongoing takeover, they had no money to meet the spending requirements for the tenements in question, and were limited in how they could fundraise, whereas the plantiff argued they did have money but spent it on corporate issues instead of drilling/exploring.

Warden court found in favour of Bullzeye for all of the North Laverton Gold project tenements (the first area that has been most aggressively drilled). It found in favour of the plantiffs for 5 tenements that are in the Southern Cross and Aurora projects.

https://uploads.dmp.wa.gov.au/uploads/Download/EMITS/Applications/069ec3d7-fa5f-4456-a092-8ac214b877ce-h56vovgq7iznpxa4yp0e7eep8mw895g1swnxvdpi/2399929?groupAccessToken=C0lKfydFeWoboObMsXNqzbdhKz8bPp19Rt_TzZxw7Sy_znGC8xGgRcDYPRiLP2an8884F0XlwV205I3CJKCmnA2&mode=inline&mode=inline

Anyhow as of Wednesday, we are now exactly 5 months since the decision was issued by the TOP, and still waiting for this report. The offer will be extended again as it expires next Friday which isn't 10 working days away.

Good news is the great POG.

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Dear tangey99,

Thanks for posting Warden Cleary's decision. The Warden was very thorough in examining the applications. Upon reading the decision, it prompted me to look up the tenements. I haven't included the references for the images, but they are real! Overall, not much land was forfeited by Bullzeye.

EMR Price at posting: $3.11 Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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