Emerald Resources (ASX:EMR) has completed the takeover of unlisted gold explorer Bullseye Mining, which is developing the Okvau Gold Project in Cambodia.
In June 2023, Emerald Resources signed a bid implementation agreement to acquire Bullseye for a consideration of one share for every four Bullseye shares held.
Emerald Resources says the offer is a “value-accretive” opportunity for Bullseye shareholders as it provides exposure to assets in development and production.
On 25 January 2024, Emerald announced its stake in Bullseye was 78.05%, of which 76.73% is not subject to withdrawal rights and irrevocable.
During April 2024, Emerald had acquired 99.55% of Bullseye’s shares and decided to exercise its right to compulsorily acquire the remaining shares.
Emerald Resources is an international gold explorer and miner focused on its operations in Australia and Cambodia. The company’s main assets include the Okvau, Memot, and Dingo Range projects.
Write to Aaliyah Rogan at Mining.com.au
Images: Emerald Resources
