RECOMMENDED TAKEOVER OFFER OF BULLSEYE MINING LIMITED
BY EMERALD RESOURCES NL
HIGHLIGHTS:
Emerald to acquire Bullseye via an off-market Bullseye board recommended
takeover Offer;
Bullseye’s extensive landholding totals in excess of 1,200km2 of highly
prospective licences across 3 gold projects;
Bullseye’s flagship North Laverton Gold Project (NLGP) covers 800km2 tenure
and captures the entire Dingo Range Greenstone Belt - one of the few under
explored greenstone belts remaining in Western Australia;
In 2015 Bullseye calculated a JORC 2012 compliant Indicated and Inferred
Mineral Resource Estimate of 276,000oz at 2.51g/t Au to an average depth of
~120m (Maiden Resource);1
Since estimation of the Maiden Resource, Bullseye has completed 35,000m of RC
drilling (to an average depth of 120 metres);
The inclusion of results from the completed 35,000m of drilling and extensional
drilling planned for the 2022 calendar year has the potential to significantly
increase the Maiden Resource;
Emerald has the financial capacity, operational and exploration expertise to
maximise the potential of Bullseye’s attractive portfolio of gold projects;
Emerald has acquired a pre-bid equity stake of 19.45% of Bullseye;
Emerald and Bullseye have entered into a Bid Implementation Agreement in
which Bullseye’s Directors unanimously recommend that Bullseye shareholders
accept the Offer, in the absence of a superior proposal; and
The Offer is subject to a 90% minimum acceptance condition by Bullseye
shareholders.
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2 | 9614 | 3.960 |
8 | 39436 | 3.950 |
2 | 4711 | 3.940 |
1 | 886 | 3.930 |
Price($) | Vol. | No. |
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4.000 | 69595 | 10 |
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