I'm confident the vast majority of Bullzeye shareholders will take up the offer, and will continue to take up future offers.
It's actually a bit shortsighted by EMR holders to hope otherwise, the prospectus did lay out a range of examples including if EMR was the only one to take up the offer, and in that scenario their overall holding of Bullzeye would increase by 0.5% or so, hardly significant. And the chinese have already confirmed an intention to take up all of their offer.
Also in that scenario, there is virtually no money available for Bullzeye drilling, so money would need to be found again almost immediately.
Court can not force circa 40%+ holders to sell to cicra 59%+ holders, no matter who moots what
Sprott was talking about a 50-100% increase in EMR SP once Bullzeye gold production begins in earnest circa 2025.
EMR Price at posting:
$1.13 Sentiment: None Disclosure: Held
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