Bulletin Resources Challenges Permit Refusal

Bulletin Resources Limited (AU:BNR) has released an update.

Bulletin Resources Limited faces a setback as its application for the Native Vegetation Clearing Permit (NVCP) required for the Ravensthorpe Lithium Project was refused by the Western Australian Department of Energy, Mines, Industry Regulation and Safety. Despite the Environmental Protection Authority’s decision that the project’s environmental impact does not require their assessment, Bulletin has appealed the refusal, strongly disagreeing with the grounds on which the decision was based. Meanwhile, the company maintains a healthy financial position with $12.15 million in cash, investments, and receivables.

For further insights into AU:BNR stock, check out TipRanks’ Stock Analysis page.