Explorer and developer Emerald Resources has declared its takeover for Bullseye Mining as “best and final”, stating that it will not increase its offer.
Emerald has a 78.26% equity position in Bullseye, of which 76.73% is not subject to withdrawal rights.
Emerald in August last year opened its offer for Bullseye. The firm previously said that its combination with Bullseye provided shareholders an attractive investment opportunity to continue to have exposure to the Eastern Goldfields in a listed entity ready to develop Bullseye’s projects.
It also provides Bullseye shareholders with exposure to gold operations in Cambodia, through Emerald's two-million-tonne-a-year Okvau gold mine.