I don’t disagree with much of those points, save we know that the intention is that Bullzeye will announce 1M+ ozs by end of year to make a plant viable.The value of Bullzeye IS its mineral asset, and that is what EMR is interested in. It seems entirely contrived that the expert has concluded that the asset is worth between $29–$49M, and hence a Bullzeye share is worth 9c at the top end, whilst EMRs offer values the company at $325M in relation to the script offer, and EMR themselves paid 29c per share in cash for each of the last 5% fund raisings.
The experts valuation looks like nonsense, and it makes a mockery of the target statement. Given that the majority of the board of Bullzeye is EMR execs, that’s pretty amazing.
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