Emerald Resources has extended its offer to acquire 100 per cent of shares in Bullseye Mining.
The original offer was due to close on September 22 2023, but will now remain open until October 6 2023.
Emerald announced the offer was unconditional on September 14 and urged Bullseye shareholders to accept.
The company has said if it acquires a relevant interest of 90 per cent or more then the company will proceed with a compulsory acquisition of any outstanding Bullseye shares.
Emerald confirmed it currently holds a relevant interest in 75.81 percent of the 507,081,513 Bullseye shares currently on issue.
The company has received acceptances from AU Xingao Investment, who holds 28,473,635 Bullseye shares and Hongkong Xinhe International Investment Company, with 63,807,693 shares.
18.47 per cent of shares are held by other shareholders, totalling 93,632,149 shares.
Bullseye Mining is a gold exploration and production company with over 1200 square kilometres of gold-rich greenstone terrain located in the world class gold fields of WA.
The company offers two operations – the North Laverton gold project and the Southern Cross gold project.
North Laverton consists of three open pit gold deposits: Bungarra, Boundary and Stirling. First gold pour at the project was achieved on September 8 2023, totalling 20.941kg.
The Southern Cross greenstone belt boasts over 150 known gold deposits and has historically produced over 15 million ounces of gold.
The belt contains a number gold deposits over a million ounces including the three million ounce Marvel Loch gold deposit, the 2.6 million ounce Bullfinch–Copperhead gold deposit and the 2.2 million ounce Bounty gold deposit.
Emerald currently has two operations, the Okvau gold mine in the Mondulkiri Province in Cambodia and an oil and gas interest in Kentucky in the US.