From the Independant Expert Report:
1. BAB's indicated range of values is between $34 million and $51 million, with a
PREFERRED VALUE of $46 million.
2. We consider the value of a Bullabulling share to be between 10.7c and 15.7c, with a
PREFERRED VALUE of 14.2c
3. RG 111 states that an offer is reasonable IF it is fair. As set out in Section 12, the Offer IS NOT FAIR.
4. If Shareholders reject the Offer they will continue to hold their interests in the Bullabulling Gold Project, and will therefore be able to benefit from any increases in value INCLUDING the implications of COMPLETION of the DFS.
Gold is way of it's highs, gold explorers are trading at bargain prices, and 14c has been independantly assessed by experts as fair nad reasonable to the Shareholders atm, with no account given to potential near term upside.
Anything less than that 14c is Zijn trying to aquire/steal for themselves the future upside from current shareholders.
I expect another pathetic offer of maybe 8c or 9c. Wholly unacceptable imo and should be dismissed just like the 7c offer
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- even a 14c offer is still too cheap !
even a 14c offer is still too cheap !
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