As I stated at the start of oct when the takeover panel made it's determination, this Bullzeye thing isn't going to be finalised until 2024. Today's notice extends the offer to end of december. If you were the assigned expert and someone told you you had a maximum of 3 months and all resources would be paid for, human nature would lean you to keep yourself employed for as close to the full 3 months as possible.
The left hand column in the announcement today is quite obvious someone using cut'n'paste on the previous announcement and just changing the dates in the body of the text. If they changed when that was coming out, it would be a separate announcement to the market.
Drilling and therefore the resource/reserve has slowed for two reasons.
1) Bullzeye remains cash starved and EMR is unwilling to pump money in whilst there is still the possibility that a sizeable portion of Bullzeye will not be under it's control
2) They might deem it more beneficial to release the update (with a possible increase in EMR SP), when they are in a firmer place with Bullzeye
Thinking further, it will be interesting to see whether the expert decides to independently value Bullzeye as part of putting a value on the settlement compared to the value that other shareholders received. IMO the valuation put on Bullzeye in the target statement is a joke. If that is the case they I guess it is in EMRs interest that Bullzeye is perceived low value right up until they take full ownership of it. This might also play into the delayed reserve/resource announcement.
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