re healeys top 20 holding in pdn dyl blr, page-38

re: price estmate Hi Darth Trader ... you are right in pointing out that there is risk associated with BLR ... in fact with ANY investment & trade in the s/market.

Regards you view of BLR, I do sense a case of the half a glass of water syndrome.

To you it is half empty - To me it is half full.

How so? You take the negative angle on Uranerz, while I look at it positively:

1] Uranerz is not j/v-ing their "risky acreage" as you put it - if you research properly you will see that their policy is to j/v ALL their exploration projects, as they put it: "as a means of reducing our exploration risk." Semantics I know, but that conveys a significantly different meaning. They are now free to concentrate on their Powder River Basin mine development.

2] This approach is taken by many "large" mining houses. IE: BHP, RIO, Xtrata ... who focus on their mines while forming j/v's with small companies & then later decide to proceed or not. Remember a small company that Rio made a j/v with in Laos, at a place called Sepon? They then decided it was too "risky" and sold out?
My point: This is not a "half-empty" negative for BLR - This is a "half-full" opportunity!!!

3] Another positive is Uranerz' choice of BLR as a partner. Remember that they want VALUE form their exploration properties, and hence will align themselves with companies they feel can achieve something. Two other companies they have j/v's with are Triex Minerals & Blue Rock resources. Both top tier Canadian uranium explorers trading at about C$4.50 & C$1.00 respectively on the TSX. The third is BLR!!! .... a glass half full IMO!

4] A final point is how the Directors of BLR view the alliance with Uranerz. Rather that the "be all & end all" they see it as the start: As "a PART of the companies growth strategy" and also: that it "provides the company with an excellent opportunity to BEGIN its realize it growth objectives.

5] As proof of that a few months later they acquire 90% of the high-grade Ferris Haggerty gold/copper project, & then a few months after that they acquire 100% of the Taylor Ranch uranium project. They then announce: "negotiations to acquire several additional advanced uranium projects in the USA continue."

6] I see BLR as akin to a younger DYL. *Good aggressive management *On the acquisition trail for good projects *Aligning themselves with quality players

I just looked again & the glass is three quarter full!!

Happy to hear your sober viewpoints – But quite happy to propound mine!

Cheers & may the ‘borse be with you’ :-))