backofbeyond, EMR holders have been factually diluted because circa 51M new EMR shares were issued to non-EMR shareholders as part of the offer. Shareholders paid for the partial Bullzeye acquisition. Clearly as shareholders themselves the EMR board are also affected, and equally clearly EMR sees the acquisition as additive to the company, but the company didn't pay for the shares acquired during the offer.
"As for being diluted with a CR for drilling at B'sEye I am sure that they won't be delving into your or my pocket for funding to undertake that programme ,they will be using profits from the Okvau operation to fund this. "
You are probably right about that. The statement a few days back said that some of the $10M will come from bullzeye shareholders, EMR owns 60% of Bullzeye so 60% of that form of financing will come from EMR, so most likely from their cash reserves and less likely via an EMR dilution.
@beanpea, I havn't expressed any anti EMR sentiment, in fact with their long history of processing plant construction on time and under budget, and their ability to generate cash, they are the ones that will be able to move the Bullzeye projects forward. And unlike you, I haven't been making factually incorrect statements, such as the one you made the other day that the Bullzeye board is entirely made up of EMR directors when a statement to market just a day earlier was signed by a director of Bullzeye who has been on the board for over 10 years. I note you didn't acknowledge your factual inaccuracy. I have read the terms of use which does require the position to be toggled if one holds shares in the company under discussion (even thought the position toggle is not marked as required), and I have updated it accordingly
I see the chinese have extended their offer again. I wonder what their game is, as it would seem pretty apparent that no one is taking up their offer. AFAIK, they can continue to extend for a full year from the original offer, which was some time in March/April ? Is this just tactical, whilst their surpreme court case comes up at the start of August. Also does the fact that there is an active offer in any way impede bullyeye's day-to-day operation, or limit major decision making ?
(20min delay)