Bulletin Completes $4.77M Partial Sale of Lake Rebecca Tenure to Ramelius
Bulletin Resources has received the final $0.8 million payment from Ramelius Resources for the partial sale of tenure at its Lake Rebecca Gold Project, completing a transaction that has injected nearly $4.8 million into the company since 2021.
- Final $0.8M cash payment received from Ramelius Resources
- Total proceeds from partial sale now $4.768M in cash and shares
- Partial sale involved 1.35km2 of Lake Rebecca Gold Project tenure
- Bulletin maintains strong balance sheet with $12.03M in cash, shares, and receivables
- Lake Rebecca project adjoins Ramelius’s 1.4Moz Rebecca Gold Project
Transaction Completion Marks Milestone for Bulletin Resources
Bulletin Resources Limited (ASX: BNR) has announced the receipt of the final payment of $0.8 million from Ramelius Resources Limited (ASX: RMS), concluding the partial sale of 1.35 square kilometres of tenure from its Lake Rebecca Gold Project. This payment brings the total proceeds from the sale process, initiated in 2021, to $4.768 million in cash and Ramelius shares.
The Lake Rebecca Gold Project, spanning 600 square kilometres in Western Australia, is strategically positioned adjacent to Ramelius’s substantial 1.4 million ounce Rebecca Gold Project and the 1.8 million ounce Roe Gold Project. This proximity underscores the potential value of Bulletin’s tenure and the rationale behind Ramelius’s acquisition of a portion of the land.
Financial Position Strengthened Amid Strategic Asset Monetisation
With the final payment now received, Bulletin Resources reports a robust balance sheet featuring $12.03 million in combined cash, shares, and receivables as of the end of the December 2024 quarter. This financial strength provides the company with flexibility to advance its exploration and development ambitions within the Lake Rebecca region or pursue other strategic opportunities.
The partial sale transaction reflects Bulletin’s pragmatic approach to asset management, monetising non-core tenure while retaining a significant landholding in a highly prospective gold district. It also highlights the growing interest from established producers like Ramelius in consolidating positions around their flagship projects.
Outlook and Market Implications
While the transaction is complete, Bulletin’s future performance will hinge on exploration success and broader gold market dynamics. The company’s ability to leverage its strengthened financial position to unlock value from the remaining tenure will be closely watched by investors. Additionally, Ramelius’s ongoing development of its adjoining projects could catalyse further interest and potential partnerships in the area.
Bulletin’s leadership, including Chairman Paul Poli and CEO Mark Csar, will likely focus on balancing disciplined capital management with exploration upside as they navigate the next phase of growth.
Bottom Line?
Bulletin’s completed sale boosts its war chest, setting the stage for renewed exploration momentum at Lake Rebecca.
Questions in the middle?
- What are Bulletin’s immediate exploration plans for the remaining Lake Rebecca tenure?
- Could Ramelius pursue further acquisitions around the Lake Rebecca area?
- How might gold price fluctuations impact Bulletin’s development strategy?
