www.bullabullinggold.com
Bullabulling Gold Limited is an Australian and UK publicly quoted mining exploration company headquartered in Perth, Western Australia. The Company is the successor entity of GGG Resources plc.
Bullabulling Gold is the 50% owner of a large previously producing mine called Bullabulling. We will acquire the remaining 50% interest in the project under an Australian court approved scheme in April 2012, subject to shareholder and final court approval.
Located in the goldfields of Western Australia, Bullabulling is within easy commuting distance of the main gold mining centre of Kalgoorlie which is less than 80kms away on the main Perth Kalgoorlie highway. The project straddles the main highway with mains power and water running through it.
The company has presently 170 million shares in issue which will rise to circa 290 million shares once Bullabulling Gold Limited acquires the remaining 50% interest in the project.
GGG Resources and Auzex to expand prospecting licence area of Bullabulling gold project
GGG Resources (LON:GGG, ASX:GGB) and joint venture partner Auzex Resources (ASX:AZX) have applied for additional prospecting licence areas covering 8 square kilometres adjacent to the key prospective areas to the south of the Bullabulling Trend.
The Bullabulling gold project is located 65 kilometres south-west of Kalgoorlie in Western Australia's Yilgarn basin.
The two companies, who are in the process of merging to form Bullabulling Gold Ltd, are working to extend their existing properties to add operational efficiencies, GGG said in a statement.
The additional licences could increase the size of the overall resource, if the results of forthcoming exploratory drilling show the same characteristics as the rest of the Bullabulling Trend.
Overall, the joint venture holds 131 square kilometres in tenements, under various mining permits, miscellaneous licences, prospecting licences and applications.
In addition, the joint venture holds the Pastoral Lease underlying the tenements.
GGG Resources announced last week that the planned merger is progressing well and that the operating company, called BBG Management Ltd, had been established. This new company is made up of senior executives from both companies and it will oversee the development of the Bullabulling gold project.
The two joint venture partners put an end to a cat-and-mouse takeover battle in August - when GGG dropped its hostile bid, and instead agreed a new deal to merge the companies – so they could focus on the development of the 2.6 million ounce Bullabulling gold project in Western Australia.
Earlier this month, the partners received approval from the Western Australian government for a programme of works for a planned 194,000-metre drilling programme at Bullabulling over the next few months.
