• BLR and ABT to form a 50/50 JV in respect of the commercialisation and application of Ablation.
• The JV applies worldwide for use in uranium and associated minerals.
• ABT grants BLR a separate licence to use Ablation at its Hansen Project .
• Ablation has been successfully tested on ore from BLR’s Hansen Project, with recoveries of ~95% of the contained U3O8 in ~10% of the test material.
• Ablation has also been successfully tested on ores from a number of other projects in the USA.
• Next step in development of Ablation is building a commercial-scale unit.
• BLR will initially fund 100% of the operating costs of the JV, with ABT’s 50% share recovered from revenues earned.
• The concentration of ore using Ablation, to produce a high-grade, high-value concentrate, has the potential to make some marginal uranium projects economical.
• The JV will seek opportunities to apply Ablation within the USA and throughout the world.
The business of the JV is to market, sell and promote the use of the Ablation for applications in uranium mining. BLR will be required to provide funding for the JV, until such time as it becomes self-funding.
The JV partners will come to a mutual agreement regarding work programs and budgets. BLR will initially fund 100% of the JV’s operating costs, with ABT’s 50% share of expenses to be recovered by BLR from future revenues earned.
BLR Price at posting:
1.0¢ Sentiment: Buy Disclosure: Held
