Bulletin Resources (ASX: BNR) – junior lithium explorer

COMPANY SCOREBOARD

Pro Plus	Pro	Con Plus	Con
		Passive Board 2 Years plus rock chips sampling

ABOUT COMPANY

Bulletin Resources (BNR) (https://www.bulletinresources.com/) explores gold and lithium in Western Australia. It holds an 80% interest in the Lake Rebecca Gold project and the Ravensthorpe Lithium project.

CAPITAL STRUCTURE


ASX Code	Share Price	Shares	Option (In)	Market Cap	Cash/Asset ($m)
BNR	0.041	293613323		12038146.243	7.6/3.5


Holders No	Top 20 (Cur)	Top 20 (Pre)	Director Hold	Performance Right	Note
1482	52.39%	48.46%	26.43%		last raise $2.6m@4.5c with Opt@10c

The company bought 80m MAT shares at around 3c plus 14m options@5c expiring Sep 2027. also holds some RMS shares.

FLAGSHIP ASSETS

Ravensthorpe Lithium Project WA

Ravensthorpe - Li, Ni, Au - GXY, MEK, MM8, OD6, NIS, BNR

Project Data

The company has reported many spectacular high grade lithium rock chips since December 2021, but yet to drill a single hole. It is very hard to believe GXY will miss that obvious opportunity around the corner while spending millions on project expansion.

OTHER ASSETS

Lake Rebecca gold project WA (575km2)

The two northern tenements (E28/2600 and E28/2635) are in JV with MAT (BNR 80%/MAT 20%) and are managed by Bulletin.

East Kalgoorlie - Lake Rebecca - Gold - NST, Gold Fields, SLR, RMS, BC8, LEX, BRB, SLS

SUMMARY

This is a lifestyle company, not actively exploring.