Bullabulling, which mines for gold in
However, after the increased offer by Norton and increase in its interest, the Bullabulling directors said on Thursday that they have lost effective control of the company.
Bullabulling said that at this point it is unlikely that any resolutions put to shareholders could be passed without Norton's support, meaning it has power over the management and board composition of the company, the timing of its future gold mining development programmes, and the methods of finding funds for developing its flagship
It added that despite its best efforts, it has not been able to achieve a better offer for the company and noted that Norton has made it clear the AUD0.08 offer is final and is scheduled to close on
Bullabulling share were down 0.5% at
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