in depth appraisal , page-11

Hi Buc

I suppose I deserve that last line LOL. . . .It's great to see you have a sense of humour.

You didn't factor in the $50 000 000 from the sale of Jonesville, wink, wink. or JV

If you have a passion for this stock . . .which I think you do . . . the next 12 months will probably be the most financially rewarding experience you have encountered.

As per the article from The Sydney Morning Herald,there seems to be an urgency to acquire companies with a commercial size ( 100 million pounds ) and average grade
( 500ppm +) of resource, and they are willing to pay up for it. Further drilling around Hansen to the SE is highly likley to delineate an even larger resource.

Be aware that Morgan Stanley has been active in this stock in the recent past. With approx 35% ( 35 000 000 ) of February 2011 4.5cent options in retail investors hands, they will soon have to decide whether they are selling or exercising. This may be opportunistic for someone who has funds on tap, and wants a larger position in the company at a guaranteed price. I wouldn't expect an announcement on the definitive agreement until after the options expiry date, although there may be some word on the Jonesville asset before that . . . . .whatever happens there is going to be a surge in news flow.

To answer " LezKepara"s" suggestions and questions

(a) I won't be changing my sentiment from LT Buy, because I'm not selling until Mike Haynes does.

(b) Having invested $250 000 in recent months in BLR in multiple accounts, I think that is ballsy enough at this point.

But I do appreciate the humour, so keep it coming and I gave you a thumbs up.

SwissB