A BALLINA man accused of possessing stolen property has instead pleaded guilty to drug supply.

Peter Maurice Cooper, 47, was arrested in March following a police investigation into the supply of methylamphetamine in the Ballina area.

During the search warrant, police located and seized jewellery, bikes, power tools and watches - all alleged to be stolen property.

Police also allegedly seized methylamphetamine and drug paraphernalia.

When Cooper's matter was mentioned in the Lismore Local Court on Monday, the Director of Public Prosecutions office withdrew 52 charges against the accused, including a string of drug supply, failure to report and stolen property possession charges.

The charges were dropped following Cooper's plea of guilty to supplying a prohibited drug on an ongoing basis and a failure to comply with reporting obligations was accepted by the court.

Two other charges of supplying a small quantity of a prohibited drug and good suspected stolen found at Cooper's property will also be referred to the Lismore District Court as back up charges.

Cooper was yet to enter please to these two charges.

All matters will be mentioned in Lismore District Court on November 23.