# BNR - Bulletin Resources



## System (8 January 2011)

Bulletin Resources Limited (BNR) is a listed public Australian company incorporated in June 2010 with the objective of identifying and acquiring high grade gold projects offering short to medium term production opportunities, as well as upside potential for further discoveries and resource expansion. 

With this objective, the Company acquired six granted mining leases covering the Nicolson's gold project in September 2010 (Nicolson's Project), entered into an asset sale agreement with Thundelarra Exploration Limited for two adjoining granted Exploration Licences (Thundelarra Asset Sale Agreement) and submitted applications for two additional Exploration Licences adjoining the Nicolson's Project and the Thundelarra Project properties (Exploration Licences). At completion of the Thundelarra Asset Sale Agreement and subject to the granting of the Exploration Licences, Bulletin Resources will hold a 100% interest in a contiguous package of prospective tenements covering approximately 69.3km² located near Halls Creek in the Kimberley Region of Western Australia (Tenements).

http://www.bulletinresources.com


----------



## barney (27 October 2011)

Nice bit of movement from this one over the last couple of days.  I bought a few recently based on the quality of the management, the fact they have gold in the ground, and their market cap is pretty much the equivalent of their cash in the bank.  Could run with a sniff of good news.


----------



## mr. jeff (27 October 2011)

barney said:


> Nice bit of movement from this one over the last couple of days.  I bought a few recently based on the quality of the management, the fact they have gold in the ground, and their market cap is pretty much the equivalent of their cash in the bank.  Could run with a sniff of good news.




How much gold in the ground and are they drilling any decent ground?! Do they have any JORC'd  ounces?  That was what was so attractive with SBL.


----------



## barney (27 October 2011)

mr. jeff said:


> How much gold in the ground and are they drilling any decent ground?! Do they have any JORC'd  ounces?  That was what was so attractive with SBL.




Howdy Jeff,


The ground is 35 klms south west of Halls Creek in the Kimberlies.  Previously mined on a small scale with some decent ratios.

No JORC yet, but the feasbility studies are on the time table, so they are confident .... Inferred and Indicated of almost 250,000 ounces, so not small change if its proven up.

The Company has only been listed for a short time. It is very illiquid, but also very tightly held, which I like.

Also like the Manager putting cash in over the last few months.



Main thing I like is the current market cap is less than 10 million, but they have over 7 million in the bank to prove up the resource in the meantime


The Annual report will give you much more detail than I can, and worth a read. Its not everyones cup of tea, but these are the kinds of stocks I trade.  I have a 1-2 year outlook at the moment, and will re-assess as it unfolds.



http://imagesignal.comsec.com.au/asxdata/20111018/pdf/01229853.pdf


----------



## barney (24 November 2011)

Been waiting for a retracement on this to fill the rest of my order, but no one wants to sell it under 14 cps at the moment.

Recent report from Peter Strachan is worth a read for those interested in small Gold stocks ....  

http://www.bulletinresources.com/perch/resources/bnr-20111031-1415.pdf

Its current market cap has its gold assets valued at *$41 per ounce*  Strachan conservatively puts a value of 25-30 cps based on its *current* reserve, and potential for the market cap  to increase many multiples in the future.  A MC of only $45 million for eg. would give an SP of around 70 cps 

The first assay returned from the latest drill hole which was testing the extension of the existing resource returned an interesting ....  NRC11070: *2.0m at 20.5 g/t* Au from 287m  

As stated by the MD .... This intersection along with the previously announced results from this lode is presented in Figure 1 and has confirmed the potential for a *new lode forming at depth *in the foot wall


Plus shallow drilling at "Wagtails" encountered  WAC11053: *6m at 10.2 g/t* Au from 24m ..... *Including 2m at 26.6 g/t* Au from 27m

These types of grades are not generally intermittent ..... certainly looks interesting, and may explain the Directors buying over the past few months

(I'll be looking to buy more if the price drops under 13cps)


----------



## barney (10 January 2012)

Phil Retter continues to buy shares in his own Companies (Both BNR and DAU) ... another 200,000 over the last couple of weeks.

Recent small tenement purchase from *NST* looks interesting ( Current Inferred Resource of 323,000 tonnes at 3.2 g/t Au containing 33,600 ounces of gold  with a lot of upside) + more local tenements secured for exploration .... all within trucking distance of their processing plant.

Slow mover and hard to get shares under 14 cents, but i like what I'm reading between the lines so far ........  waiting game!


----------



## barney (2 March 2012)

Management quietly getting on with business.  If the follow up drill results emulate the grades in the rock chip samples, Paddock Well will boost their current reserves substantially

If we could get WIG to sell their remaining 3 million shares off market, the share price of BNR will only have one direction to go  ...... Patience is a virtue .... apparently

Recent results from todays announcement (Solid Grades  ... 53 g/t at Western Reef looks interesting):-

Surface sampling extends strike length of the partially exposed Paddock Well prospect to over 1 kilometre

High grade rock chip results (*24.1 g/t Au and 11.3 g/t Au*) returned from two subsidiary northwest-trending structures

Detailed mapping and surface sampling over the Western Reefs prospect at Nicolson’s outlines potential for additional high grade lode mineralisation with results of *8.5 g/t Au and 53.1 g/t Au*


----------



## barney (20 March 2012)

Resource upgrade (again) ..... Now at *266,900 ounces*.  Not much interest from the retail punters in the current market climate, but if they keep growing the resource at the current rate, it will have to be noticed eventually ........ 

Pre Feasibility on target, and should have some interesting numbers I'd say.  With only a $7 million market cap, it looks pretty good value ..... will continue to hold.


----------



## barney (13 April 2012)

barney said:


> Resource upgrade (again) ..... Now at *266,900 ounces*.  Not much interest from the retail punters in the current market climate, but if they keep growing the resource at the current rate, it will have to be noticed eventually ........
> 
> Pre Feasibility on target, and should have some interesting numbers I'd say.  With only a $7 million market cap, it looks pretty good value ..... will continue to hold.





Announcement a couple of days ago ...... Feasibility study completed *On Time *and *Under Budget* ........  a pleasant change compared to many Companies!

Results should be available in a week or so ..... looking forward to what the numbers say.

Sp still needs to get over the 15-16 cent area with momentum before it gets interesting.  I think WIG holdings are down to around 3 million shares, so it won't take a lot of trading to clean the last of them out.

Waiting patiently ..... opcorn:


----------



## springhill (21 June 2012)

BNR released announcement this morning regarding Nicholson's North.
http://www.asx.com.au/asxpdf/20120621/pdf/426ykzyb1cy223.pdf


● Thick, high grade quartz lode intersected down-plunge of previously announced high grade RAB drill hole intersection located 400 metres north of Nicolson’s Find open pit:
 NRC12006 : 12m at 13.6g/t Au from 55m
 (incl. 1m at 54.6g/t Au from 57m
 1m at 74.3 g/t Au from 61m)
● Reserve definition drilling within the planned Rowdies open pit intersects additional shallow gold mineralisation. Highlights include:
 RRC12001 : 1m at 6.1g/t Au from 13m
 RRC12004 : 2m at 2.6g/t Au from 6m
 1m at 14.5g/t Au from 13m
● All reserve definition drilling results received with resource estimate update in progress.


There were 2 recent announcements in regards to Wagtail.
http://www.asx.com.au/asxpdf/20120612/pdf/426s1y2d2zyj2r.pdf


● Positive results from first batch of assay data received from infill RC drilling within the planned Wagtail South open pit. Highlights include:
 WSRC12042 : 1m at 25.9g/t from 36m
 WSRC12043 : 6m at 13.7g/t Au from 52m
 (incl. 3m at 24.3g/t Au from 52m)
 WSRC12063 : 4m at 8.4g/t Au from 36m
 (incl. 1m at 25.4g/t Au from 37m)
● Infill RC drilling within the southern portion of the planned Wagtail North open pit continues to confirm continuity of the Inferred resource lodes. Significant results include:
 WNRC12123 : 3m at 7.6g/t Au from 96m
 WNRC12129 : 2m at 10.8g/t Au from 92m


Aswell as
http://www.asx.com.au/asxpdf/20120615/pdf/426v66ttw0ttmt.pdf


● Second set of results received from reserve definition drilling within the planned Wagtail South open pit intersects further shallow, high grade gold mineralisation. Highlights include:
 WSRC12055 : 8m at 24.3g/t Au from 15m
 (incl. 2m at 71.3g/t Au from 18m)
 WSRC12039 : 4m at 6.7g/t Au from 20m
 WSRC12008 : 3m at 8.8g/t Au from 4m
 (incl. 1m at 22.7g/t Au from 4m)
 WSRC12026 : 1m at 8.3g/t Au from 56m
 2m at 7.4g/t Au from 59m
 2m at 12.4g/t Au from 67m
● Final results from infill drilling at Wagtail expected next week in advance of results from the Western Reef and Paddock Well exploration targets.


Director Retter buying on market
http://www.asx.com.au/asxpdf/20120522/pdf/426dc7sd7d6j5b.pdf
http://www.asx.com.au/asxpdf/20120515/pdf/42683wb3wbz190.pdf
http://www.asx.com.au/asxpdf/20120510/pdf/4265m52q5df1rk.pdf



More news to flow, tight capital strucure, cash in hand, shallow deposits. SP weakness potentially providing a buying opportunity. There is alot to like about BNR


Barney, or anyone else have an eye on this?


----------



## barney (21 June 2012)

springhill said:


> BNR released announcement this morning regarding Nicholson's North.
> COLOR]




Howdy Springhill ..... i thought I was in this room by myself

Yeah, been following BNR for some time and as you say, lots to like about what they have.  Only a relatively small deposit, but they have their own processing plant which is almost unheard of with a $6 million Spec.

I have spoken to the Company, and they are quietly confident.  Each time they put out upgrades like to today it gives them more ammunition for Financing arrangements, and their finacing is already under early negotiation.

Conservatively they stand to clear about $10 million per year for a five year mine life if the project goes ahead. If you put a PE of even 5 on that, it makes the $6 million market cap look pretty silly.  The market however is not kind to Specs at the moment, so until the financing is set in stone, the SP will probably wander around.

It wasn't that long ago you couldn't buy these at less than 14 cents ..... One serious buyer and it could be back there in a flash, so anything under 10 cents looks low risk. (all just my opinion of course)
Cheers.


----------



## prawn_86 (21 June 2012)

barney said:


> Conservatively they stand to clear about $10 million per year for a five year mine life if the project goes ahead. If you put a PE of even 5 on that, it makes the $6 million market cap look pretty silly.  The market however is not kind to Specs at the moment, so until the financing is set in stone, the SP will probably wander around.




5 year mine life is very low. What are the chances of resource expansion?

I personally think a PE of 5 on a 5 year mine life, with an as yet, untested 'near term' producer is on the high side. I guess what i'm asking is, how do they propose to spend that $50m they stand to earn in order to best maximise shareholder returns?


----------



## springhill (21 June 2012)

prawn_86 said:


> 5 year mine life is very low. What are the chances of resource expansion?
> 
> I personally think a PE of 5 on a 5 year mine life, with an as yet, untested 'near term' producer is on the high side. I guess what i'm asking is, how do they propose to spend that $50m they stand to earn in order to best maximise shareholder returns?




I guess that i why they are drilling Nicholson north and south.
There is another target in between nicholson and wagtail (name escapes me atm) they believe is worth exploring. So i would say chances of resource upgrade are pretty good.
How they plan to use the $50m is a question for mangement.

You are alone no longer Barney, this will be on my number 1 watchlist


----------



## barney (21 June 2012)

prawn_86 said:


> 5 year mine life is very low. What are the chances of resource expansion?
> 
> I personally think a PE of 5 on a 5 year mine life, with an as yet, untested 'near term' producer is on the high side. I guess what i'm asking is, how do they propose to spend that $50m they stand to earn in order to best maximise shareholder returns?




All fair questions Prawn. Lots of details in the Company announcements re resouce possibilities. Best to approach the Company direct for specifics regarding their future plans.  The PE of 5 was simply a "Post Production" hypothetical figure.  For example, if they get this to Production and have say $15million in the bank after a couple of years or so, I really can't see their market cap at $6 million irrespective of the five year mine life.  Even with a PE of 1, $15 million cash would give them an SP of 20 cents ..... Bear in mind these are very rough figures I am throwing around ..... It is a Spec play, and should be treated as such.



springhill said:


> You are alone no longer Barney, this will be on my number 1 watchlist




Lol ...... As a fruit picker (Grower ... my aplolgies), I imagine you would also be used to talking to yourself a lot ..... apples don't say much!


BNR purchased a little land off NST a while back called Golden Crown  .... Open pit with 33,000 of Gold atm. Only a little extra resource at this stage, but i like the fact that NST took their payment in BNR shares


----------



## springhill (12 July 2012)

*Exploration Activities Update

*
● Assay results from first pass reconnaissance drilling along the northern extent of the Paddock Well prospect confirms potential for shallow gold - silver mineralisation. Highlights include:
PWRC12001 : 5m at 1.5g/t Au and 9.6 g/t Ag from 15m
PWRC12002 : 2m at 4.3g/t Au and 16.1g/t Ag from 11m
PWRC12013: 3m at 2.0g/t Au and 20.9 g/t Ag from 20m
PWRC12014: 3m at 2.7 g/t Au and 21.8g/t Ag from 50m

● High grade quartz veining outlined at the Hyena prospect along strike of the Nicolson’s North discovery with rock chip results of 22.4g/t Au and 32.6g/t Au returned

● Return of drill rig confirmed for later this month to continue evaluation of the promising Nicolson’s North prospect

● Resource and reserve estimation work on Wagtail and Rowdies proceeding to schedule with results expected in coming weeks

● Bulletin continues to grow its land position in the Halls Creek region. The Company has entered into a 2 year contractual licence with Northern Star Resources to explore Exploration Licence E80/2612, adjoining the Lamboo Gold Project, and E80/4001, covering a high grade gold discovery located to the north of Halls Creek. Bulletin has also been granted an option to acquire a 100% interest in the tenements.


----------



## barney (17 August 2012)

barney said:


> It wasn't that long ago you couldn't buy these at less than 14 cents .....





A couple of months makes a big difference in the life of a Spec 

I see a lot of Goldies on the move today ....

*NCM currently up 1.7%

RED  .......... up 1.8%

ABU  .........  up 4%

DAU (low volume) .. up 10%

BNR* hasn't moved and its surprising how much they've been hammered recently.  Probably due for a Cap raise soon which could have something to do with the poor SP performance.

*Pros:*

Proven mineable resource (small scale, but potential for increase)

Own Processing Plant

Current market cap of $3 million (The Plant and equipment is worth more than that)

At the current POG I estimate their current resource is worth around $40 million.  If the Gold price increases, every $100 adds 20% to BNR's bottom line.  If they can increase their reserves that will give them a buffer against the POG falling.

Its a punt, but for me its a reasonable risk/reward at these levels and I've been accumulating as such (All imo and dyo etc etc)


----------



## barney (6 September 2012)

barney said:


> BNR[/B] hasn't moved and its surprising how much they've been hammered recently.  Probably due for a Cap raise soon which could have something to do with the poor SP performance.
> 
> *Pros:*
> 
> ...




A few minnow Goldies starting to work off their lows lately....... At the current levels BNR could prove to be a Sleeper, particulally if they prove up a bit more resource which is starting to look likely, if the recent Progress update from Management works out

Bulletin’s Managing Director, Martin Phillips commented: “The outstanding work by our geological team along the Nicolson’s and Paddock Well trends is *starting to demonstrate the presence of a significantly larger mineralised system than previously anticipated*. Mineralised quartz vein exposures have now been confirmed along the granite contact for a combined strike length of 5km.

Some impressive rock chips in the latest update as well  .....   

Two mineralised trends outlined for immediate RAB drill testing, with significant rock chip results ranging* from 3.1g/t Au to 38.8g/t Au*● Strike extent of Shifty’s prospect at Paddock Well grows to 500m with significant rock chip results ranging from *3.1g/t Au to 53.7g/t Au returned from several vein outcrops*


----------



## barney (14 September 2012)

Too early to call it a reversal for BNR, but Gold having a peek at  $1770 tonight won't do any harm.


----------



## barney (2 October 2012)

barney said:


> Too early to call it a reversal for BNR, but Gold having a peek at  $1770 tonight won't do any harm.





Gold continues to firm up .....  Final hurdle for BNR now is a $20 million debt facility required to turn them from a junior explorer to a producer ...... negotiations with several Banking institutions has been initiated.  

Based on their current probable reserves, they will have up to a 3 year pay back period .... After that they will be generating free cash flow of possibly $10 million per annum??  ....... factor in the potential of further resource upgrades from their inferred/indicated reserves ...... plus ........ The initial 30,000 ounces ($15 million profit) from the tenement purchased fron NST and the potential upside from further resource drilling on that land ......... 

And all that for a market cap of less than $6 million !!  

Latest Company report gives all the details, but if they get funding, this will not be a $6 million Company for much longer.

Increase in shares traded over the last month ............ tightly held and fairly illiquid, so picking them up now under 8 cents could be difficult ....... although it wasn't so long ago you couldn't get them for less than 14 cents, so maybe 8-10 cents is still cheap??  I have my quota, so happy to sit on the fence for the time being.


----------



## barney (1 November 2012)

Latest report just out from Peter Strachan paints a solid picture for BNR. 
http://www.bulletinresources.com/docs/BNR_20121028_0954.pdf 

Its only  a small operation in the early stages, but will still generate some healthy profit for a fledgling small cap. 

The fact that it is commercially viable with their current modest resource means future drill results will be cream on top.  As pointed out in the Report by PS, results such as ..... *Nicolson’s North a spectacular hit of
12m @ 13.6g/t opens up a 3 kilometre northerly extension along the Hyena trend.*  That is a seriously good strike

This week  *Angus Geddes from Fat Prophets has also taken a 6% stake *in BNR at the 8.5 cent Cap Raise price which looks positive.  

They expect a Debt Funding arrangement to be finalised by the end of the year with first production planned within four months of that which would be a pretty impressive achievement. If the POG holds firm, or hopefully starts to edge back up, this could turn out to be a handy little operation over the next few years ...  Happy to hold.


----------



## barney (29 February 2016)

3.5 years since a post on this little minnow.   I have bought and sold a few here and there and still hold a handful so the current price action is starting to look interesting.

I could be wrong but I smell a takeover offer from PNR (Pantoro own 80%) to tidy this one up  .. we shall see


----------



## pixel (22 April 2016)

barney said:


> 3.5 years since a post on this little minnow.   I have bought and sold a few here and there and still hold a handful so the current price action is starting to look interesting.
> 
> I could be wrong but I smell a takeover offer from PNR (Pantoro own 80%) to tidy this one up  .. we shall see



Hi Barney,
Thanks for the heads-up.
"Tightly held" you said in the breakout thread. That is certainly true, but I don't mind that.
For a quickie, the 6.5c resistance looks like a reasonable profit target off a 6c support..





If you believe in the yellow metal's future, there is still more upside - even back into the teens.




For this leg, I aim for a quick swinger, risking 0.1, aiming for 0.4.


----------



## barney (22 April 2016)

pixel said:


> For this leg, I aim for a quick swinger, risking 0.1, aiming for 0.4.




Geez you almost got your profit target in one day

Appreciate your input Pixel.  

I'll update a bit of fundamental stuff over the weekend for anyone who might be interested.  Holding BNR is usually a bit like watching paint dry but with the mine ramping up production it might get a bit more trading interest.

Cheers.


----------



## piggybank (22 April 2016)

I suppose one should put it in the thread created for that stock in question.

https://www.aussiestockforums.com/forums/showthread.php?t=5351&page=105

Finished the week up just over 16% on volume of 1.91 million.


----------



## barney (24 April 2016)

A bit of info taken from the Half Yearly:-

In *September 2015* Bulletin Resources and its JV partner Pantoro Limited (PNR) became Australia’s newest gold producer with first gold poured from the Nicolsons and half year production totalling 5,143 Oz gold. 

The Nicolsons mine continues to ramp up production towards nameplate capacity. The mine is now beginning to settle into steady development with the first three development levels nearing completion, and the access to the fourth level (2185 mRL) well advanced. It is expected that *steady state production should occur in the March quarter.*

The joint venture operator, Halls Creek Mining Pty Ltd (HCM) has advised that it *continues to see a substantial overcall to the JORC Reserve model* which will provide *significant potential to extend the mine life* and production capacity at Nicolsons. 

Approximately *180%* of the modeled Reserve ounces were recovered during the October- December period with *Reserve overcall resulting from a number of factors* listed below, all of which were positive throughout this period:

*Increased tonnage and grade within the area currently classified as Reserve;

Extension of the Reserve along the strike of the main ore zone. 

The strike length of the Reserve was increased at both the North and South ends of the Reserve;

Mining of high grade splay veins extending off of the main lode. The splay veins were not previously modeled in the Reserve calculation. Total ounces mined compared with the Reserve have overcalled on every level and during every month since ore development commenced in August 2015.*

No Reserve updates have been undertaken to date, however the substantial overcall experienced in the areas mined to date suggests excellent potential to upgrade the mine inventory when adequate data is available. Work to re-estimate the levels developed to date has commenced, and diamond drilling from underground drill platforms is due to commence in the ensuing quarter. Once adequate drill and development data is available, the Reserve estimate will be updated.


Basically they have, and are expecting to continue to increase the resource size substantially.  Current production is expected to cover all expenses at this early stage so no capital raising required from this point.

Only 174 million shares on issue.  Top 2 shareholders own almost 50% and have continued to buy on market.

Hartleys have done a promo on PNR who own 80% of the JV and values them at around 17 cents per share (currently at 8.8 cents and under some solid accumulation)

With BNR owning 20% of the JV, and with no foreseeable dilution required given the current production numbers, they look like an obvious takeover target from PNR at some point.

On top of that, PNR could also attract some takeover attention of their own, particularly if the upcoming and future production numbers continue to increase as they have been.

In my opinion both PNR and BNR look like very healthy Spec plays in the current market ......  Heaps more info on the respective web sites re the resource expansion etc 

PNR .... http://www.pantoro.com.au/ 

BNR .... http://www.bulletinresources.com/


----------



## barney (2 May 2016)

pixel said:


> For this leg, I aim for a quick swinger, risking 0.1, aiming for 0.4.





Not sure if you are still in Pixel, but if so, you are about to own 1 PNR share for every BNR share you purchased.

You get to keep your BNR shares so the deal is not too bad.  BNR management are supposedly looking at potential new project/s and have a little spare cash in the bank with nil debt.

The positive is a holding a stake in PNR which will now own 100% of what is emerging as one of the nicest looking small gold deposits in Oz with huge upside potential.

The negative is that BNR SP will likely drop, although if management come up with a new plan quickly, and given how tightly held this stock is, it might not drop near as much as it could have.  All in all, not too bad for shareholders at this point.


----------



## barney (15 July 2016)

The deal between BNR and PNR is now finalised.  Today is the last day you can purchase BNR shares and still get your in-specie distribution of 1 for 2 PNR shares.

The SP has been pushed up strongly off the back of the deal with BNR hitting 0.095 today.  It will be interesting where it opens on Monday when the ex-capital entitlement is over ...... My guess is around 4-5 cents but either way the PNR shares acquired have made it a very nice trade.  

Management of BNR will likely have cash and assets after the deal of $5-6 million and now look a very attractive shell Company.  With 6 months to rustle up a new project they are in a strong position for a minnow.   On top of all that the Halls Creek Gold deposit is shaping up as potentially big for PNR .... happy to hold both!


----------



## barney (30 July 2016)

BNR In specie distribution is now complete.  With the healthy rise of PNR recently the 1 for 2 shares deal for BNR holders has been a good trade.  BNR SP has dropped further than I expected but PNR shares have also increased a lot so the equilibrium is still solid.  

BNR now have cash and assets worth around $5 million and will be on the lookout for a new venture over the next few months.  Currently trading at 2.5 cents which is less than their current cash/asset backing so anything under this price is starting to look a low risk trade in the short term.  

If the Gold reserves keep advancing at the Halls Creek project just sold, the value of the PNR shares which BNR holds could rise exponentially as well so the POG will likely hold the key to how this performs till a new venture is sourced. Happy to hold BNR at least in the short term and hopefully PNR long term with the Halls Creek project looking like one of the better new Oz gold deposits in production


----------



## barney (1 July 2018)

I will be putting BNR in as my stock pick again this month (for about the tenth time ). 

With the Pantoro takeover done and dusted, BNR management have gone into hibernation mode and to be honest are starting to look a little lazy to me. That aside, they have swung a deal with Geko Gold which has the potential to create cashflow if all the ducks align.  

The main positive for the Company at the moment:-

1.Low market cap …. basically cash value which makes them an attractive Shell to the right Company.
2. Company costs are negligible with them in hibernation mode at present/no cash burn.
3. Share price is poor but there has been no aggression in the recent selloff. 
4. If the Geko Gold deal comes off, BNR basically get a free lunch/value to the SP.

Not exactly a great buy but at these prices it has a punters hope

Discl.  I still own a handful but sold the majority once the PNR deal was settled.


----------



## barney (1 August 2018)

Sold half my remaining BNR at the recent mini spike to 5 cents …..

Still hold half a handful and hoping to catch any remaining move North off the back of their low market cap/high cash position …. plus they have announced today a NEW acquisition … (finally!!)

The BNR/PNR takeover was kind to me but I will let my remaining BNR shares go if they spike in the short term.


----------



## barney (3 August 2018)

Acquisition announced today for BNR … 

• 80% interest in the Hodgkinson Basin Gold Project 

• The project contains a gold resource of 618,000 oz (2004 JORC compliant) 

• Project located in a known gold district  

• Large quality brownfields exploration play with significant potential 

• Acquisition is in staged payments over 30 months allowing funding through existing cash reserves 

• Work will commence as soon as possible with the initial focus on upgrading the resource to JORC 2012


----------



## barney (3 August 2018)

Market didn't get too excited about the acquisition but BNR is very tightly held, so minimal supply.

A few stale Bulls sold into the 13% rise … then a further announcement regarding a settlement of their Gecko Gold project dispute …

Current Trading Halt with expected news on Gecko by Tuesday at the latest …. If the News is positive which I expect, the SP could easily jump back to the recent short term highs of 5 cents … maybe higher.  If the news is ordinary, I think the SP will likely hold steady around the 4 cent region … 

Fairly low risk short/medium term play but still very Spec and should be treated accordingly


----------



## craigj (31 January 2021)

Has received a royalty payment of $934 k  for December quarter from Geko Gold Mine

A drilling program from Lake Rebecca is due soon 

Market cap 16 mill


----------



## greggles (10 September 2021)

Multiple lithium targets have now been identified at the Ravensthorpe Lithium Project. Spodumene bearing pegmatite rock chips with up to 6.6% Li2O remain to be followed up at Deep Purple pegmatite. Float outcrop mapping in creeks supports the opportunity for further pegmatites beneath shallow cover.

BNR is one of the few ASX-listed hard rock lithium companies. This will be one to watch as drilling gets underway later this year.


----------



## Dona Ferentes (10 September 2021)

greggles said:


> Multiple lithium targets have now been identified at the Ravensthorpe Lithium Project.
> 
> BNR is one of the few ASX-listed hard rock lithium companies. This will be one to watch as drilling gets underway later this year



Obviously early days, but the neighbourhood is acceptable.

@barney , it was a lonely decade, just reading through the thread


----------



## barney (10 September 2021)

Dona Ferentes said:


> @barney , it was a lonely decade, just reading through the thread



Lol .. Indeed it was @Dona Ferentes   Fortunately I'm used to talking to myself 

Ended up being a good trade with the PNR-BNR 1 for 1 takeover so no regrets at missing the current move.


----------



## Country Lad (19 January 2022)

Broke out Monday, went on with it yesterday and up another 26% this morning before a halt for another  announcement. Will be interesting to see if they forgot to say something last which is out in the market.
I hold


----------



## Swervin Mervin (19 January 2022)

B


Country Lad said:


> Broke out Monday, went on with it yesterday and up another 26% this morning before a halt for another  announcement. Will be interesting to see if they forgot to say something last which is out in the market.
> I hold



Bought some yesterday and today. Hopefully a good Ann on Monday, if not it’ll get punished. Surely no requirement for a halt if its average news. Good luck mate


----------



## bk1 (24 January 2022)

The occurrence of spodumene is growing along the trend, still a long way from drilling and proper assay results.
But the strike is unexplored over much of its length.
I hope the next trading halt is handled a bit better, but what do i know....


----------



## Sean K (24 January 2022)

LOL, huge run up last week, into TH on 19th for this. Didn't get a please explain. ASX asleep at the wheel again.


----------



## bk1 (4 February 2022)

ARN awaiting results from an RC campaign for pegmatites at Niobe. All 15 drill holes intersected pegmatites.
Niobe is a tiny stake surrounded on all sides by BNR, they hold a large area of prospective ground.
Trending today..


----------



## bk1 (17 February 2022)

BNR reporting high grade Lithium (spodumene) samples from *rock chips* at Ravensthorpe.
Its only rock chips, so will await a proper assay result. Over 4 km of strike containing pegmatites to be explored....


----------



## frugal.rock (31 March 2022)

Have noticed this stock before from price movements, but never really looked at it... silly me.

As a forum, I think this one might deserve a bit more attention?

It's only by a spodumene announcement heading and today's move I base that judgement on...can't seem to open announcements ATM?
Over 160%+ in 3 months... lithium, what can go wrong?
🤔😬


----------



## tookie (31 May 2022)

Just here for the forum competition... but in In my opinion - this is the most promising junior spodumeme lithium Explorer's out there... Only problem is timeframe on drilling supposedly... but if patient I see everyone being well rewarded. Should have bought more!


----------



## frugal.rock (24 October 2022)

The market appears to have missed this one?. A delayed reaction may occur, or not. 🧐


19 October 2022 ASX RELEASE

Over 50 New Pegmatite Targets Identified - Amended

Ravensthorpe Lithium Project

Highlights

 Over 50 new pegmatite targets have been identified by Light Detection and Ranging (LIDAR) and high-resolution aerial imagery

 LIDAR has been successfully used within the region by other explorers and producers as a key exploration tool for the discovery of pegmatites

 The survey demonstrates a high likelihood of discovering additional previously unknown pegmatite outcrops along the Eastern Pegmatite Trend

 Significant additional targets along the Western Pegmatite Trend also outlined

 Potential for discovery of a third pegmatite trend has been identified

 Bulletin remains well funded with $9.97M in cash, receivables and liquid investments


----------



## frugal.rock (Wednesday at 10:09 AM)

11 January 2023 ASX RELEASE 

*New High-Grade Spodumene Pegmatite Identified Ravensthorpe Lithium Project *

Highlights 

• A newly discovered spodumene bearing pegmatite in the southern part of the Ravensthorpe tenement now grows the Western Pegmatite Trend to 3km in length. This new discovery is a result of recent LIDAR survey targeting 

• Mapping south along the Western Pegmatite Trend identifies a newly discovered high-grade spodumene lithium bearing pegmatite with new rock chip assays of: 

4.81% Li2O 
4.67% Li2O  
4.31% Li2O 
3.54% Li2O 

• These new results significantly increase the prospectivity of the southern extent of the Western Pegmatite Trend 

• Mapping of other target areas identified from LIDAR and high  
resolution imagery continues 

• Spring environmental survey reports were submitted in early December to DMIRS in support of drilling approvals. Bulletin now awaits approval processes to permit commencement of drilling  

• Bulletin remains well funded with over $12M in cash, receivables  and liquid investments


----------

