Ann: A$2M Cash From Non-Core Asset Sale, page-20

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Anonymous82

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24/07/24

21:53

Post #: 74902461
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Originally posted by writer: ↑

Yeah, it's interesting, Anonymous. I think Bullseye was a different game - a private company majority held by Emerald/common Directors with AU Xingao and HK Xinhe as minorities.

I'm not across the intricacies of the stoush, but looks like they were trying to get themselves set in the face of Emerald mopping up the shares in Bullseye they didn't own. The Court oppression proceedings brought against Emerald/Bullseye by AU Xingao and HK Xinhe dragged on for 3 years and were only resolved in late '23 with both Chinese parties accepting Emerald's offer for their Bullseye shares. Move to 100% ownership of Bullseye by Emerald only/finally occurred in June this year.

Xinhe and Xingao were certainly persistent in achieving their goals.

HK Xinhe now holds some 11M/2% of Emerald @ $4/share. AU XinGao isn't in the T20.

No doubt AU Xingao are in a much stronger position with their position in WA8, though at 19.8% they're very close to threshold of having to declare their intentions with any further increase in holding. One can only hope their intentions are good and want to see Warriedar succeed.

Amanda is certainly determined to achieve success. All we can really do is go along for the ride and keep our eyes and ears open. Assuming more good near-term drill results, the SP should continue on its merry way with any potential corporate moves at a premium, though what that might be depends on a lot of things we're not privy to. Even with 19.8%, there's still a long way to go before any offer, hostile or friendly, could succeed.

Would be interesting to know where Argonaut's shares have gone...

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Yeah..or do they still hold??
bloody brilliant explanation..thanks for that.
someone's gotta fund it right..
I saw their presso and thought yeah, sounds good..but then I saw the Chinese thing I was like whaooo ..
And wonder if theyre in it for the long term...
yes emerald have certainly done well havent they!
yeah..after what you've said, that sort of soothes my anxiety on it..
Obviously there are no guarantees..
But yes..
AB seems to be doing okie with it so yeah

Cheers WRITER

WA8 Price at posting: 7.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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