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Highlights
- Bulletin Resources (ASX:BNR) finalises the acquisition of E74/680, a 36km2 Ravensthorpe tenement
- According to the agreement, Bulletin has arranged to issue 2,500,000 fully paid ordinary shares to the vendors as consideration
- Last month, Bulletin resources received AU$87,950 from the Geko gold mine as a March 2022 quarter production royalty entitlement
Shares of Bulletin Resources (ASX:BNR) rallied 4% during Monday’s trading hours following a fresh acquisition update. Based in Western Australia, BNR is a company engaged in major mineral projects, such as Ravensthorpe Lithium Project, Lake Rebecca Gold Project, Chiefly Gold Project, Geko Royalty, and Duketon North.
Acquiring tenement E74/680
Bulletin has finalised the acquisition of a new 36km2 tenement, E74/680. It is the northern tenement of the two new Ravensthorpe tenements acquired by the company through a Tenement Sale Agreement in March.
Pegmatite float rocks were reported in the northern tenement of the area; however, sources of the pegmatite float rock haven’t been found yet.
Bulletin has signed landholder access agreements over the major target areas north and along strike of Bulletin’s known spodumene bearing pegmatites. The company can now start exploration over the acquired tenement.
According to the agreement, Bulletin has arranged to issue 2,500,000 fully paid ordinary shares to the vendors as consideration. The acquisition of the other tenement, E74/698, has not yet been finalised.
Image source: © Clearviewstock | Megapixl.com
Last month, Bulletin resources received AU$87,950 from the Geko gold mine as a March 2022 quarter production royalty entitlement.
Stock information
Bulletin Resources has a market capitalisation of AU$34.81 million. At the time of writing this article (as at 1:50 PM AEST on 27 June 2022), shares of the company were trading at AU$0.130 with a gain of 4.000%.
