My reading is that under the ruling, EMR are actually able to...

My reading is that under the ruling, EMR are actually able to vote with an increasing percentage of the Xinhe and Au Xingao every six months of the three year period. Additionally, these shares now wont be used to vote against resolutions that the board wishes to pass.

" For 3 years from the date of these orders, Emerald and its associates must not exercise, and Bullseye must disregard, any voting rights in respect of Bullseye shares in excess of A% voting power in Bullseye (as calculated in the formula
below).
A = B + C
where:
B is 57.34% plus any percentage voting power increase resulting from acceptances into the Emerald Bid (excluding the acceptances of Xinhe and Au Xingao) and
C is 3% voting power for each 6 month period following the date of these
orders."

On another note, if you're EMR why don't you just leave bullseye sitting for a few years whilst you take on other projects.

They could keep bullseye exploring and burning capital so existing holders either have to pay up or be diluted. EMR have control of the company with their 75% shareholding so it can't be snatched out from under them.

They could pick up another asset/company like SPR, be producing within 6-12 months within Australia which achieves the interim dividend goal and wait until the other minor holders are ready to come to the party or are diluted into insignificance.

It sounds harsh and it is, but not everything is sunshine and rainbows in this game. EMR are in the box seat here.