On the 8th of December, when announcing the results of the last bullzeye fundraise they said "we anticipate will require another pro-rata entitlement issue early in 1Q23"
In yesterdays newsflow EMR said "Bullzeye continues to incur significant expenditure on matters that do not generate shareholder value such aslegal costs which is likely to lead to another pro-rata entitlement issue early in 3Q23."
And today in that bullzeye news item it now says "“The Company continues to incur significant expenditure on matters that do not generate shareholder value such as legal costs.Management are currently working to prepare a follow up pro-rata non-renounceable entitlements offer with funds raised to be applied to continue with the ongoing drilling program at Bullzeye’s North Laverton Gold Project which is expected to generate shareholder value. However the Company also requires working capital to meet costs associated with the continuing legal actions involving Xinhe, Au Xingao Investment Pty Ltd, Messrs Cheng, as well as dealing with various plaints over Bullzeye’s tenements. Further details will be provided to shareholders shortly.”"
So is it "early Q1, 2023" or "Early in Q3 2023" (Jul being the earliest month of Q3), or is it "details...soon" on an entitlement that they are currently working on.
Can they not make up their minds ?
EMR Price at posting:
$1.43 Sentiment: None Disclosure: Held
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