At 99.5% holding, the last 0.5% is just a relatively minor...

At 99.5% holding, the last 0.5% is just a relatively minor formality, and will not be impacting any decision making or investment IMO. Afterall if they need $20M for further drilling etc, the minority shareholders would only be providing $100K, so at this point EMR will be running Bullzeye as if they owned it all.

Know nothing about viability of various grades etc, but it's clear that if your average grade is higher, you need a significantly smaller operation to generate the same gold per quarter, and therefore a smaller plant etc.

i.e. looking at the AUC figures above, its 5 Million tonnes of ore P.A to get the desired yearly gold output. If your grades are 2gr per tonne instead of 1, then the raw ore your plant needs to process is down by 50%, that has to have a significant impact on the complexity and scale of the plant and therefore the cost of it, never mind the ongoing operation costs, (and of course the cost of the fuel to draw 50% less raw ore).

I saw for a long time, talk of it costing $100M US to build a Bullzeye plant. But that is so long ago, and everything has gotten a lot more expensive, so I imagine it might be more like $150M US, or $220M-$230M AUD.