From Stonk head this morning:
BULLETIN RESOURCES (ASX:BNR): Garimpeiro mentioned this one on September 23 when it was an 8.2c stock. It subsequently took off to 20c when the reason for the interest came to pass, namely clearance from the EPA for a drilling program at its Ravensthorpe lithium project.
The Mines Department has asked for more information which the company has provided, so the hope is that drilling will get underway before long. The delay has seen the stock drift down to 13c for a market cap of $38m (undiluted).
The drilling will be keenly watched as the project sits all of 12km southwest and along strike from Allkem’s (becoming Arcadium Lithium after its $9.2 billion merger with Livent) ageing Mt Cattlin mine.
Preliminary surface and remote sensing work by Bulletin has confirmed the presence of high-grade spodumene and lepidolite bearing pegmatites on two main trends. Now for the drilling.
Mt Cattlin is running short of resources for the long run, making anything Bulletin comes up with of strategic interest.
BNR Price at posting:
13.0¢ Sentiment: Buy Disclosure: Held
