Announcement just out confirming that any shortfall in BLRO to be taken up by StoneBridge Group, guaranteeing BLR's receipt of $4,382,650 and the resources to rapidly advance feasibility and permitting studies of the combined 90 million pound Taylor Ranch/Hansen deposit.
At yesterday's closing price, the full uptake of options and the equity based purchase components of the full Hansen acquisition (49% and 51% stakes) should see 781,732,093 BLR shares outstanding.
For the past month I have been valuing BLR on a notional outstanding share float of 780 million to derive estimates of fully diluted valuations.
For a scrip and cash outlay of $20.5 million for the entire Hansen resource (royalty agreements to holders of mineral rights not considered), the Hansen purchase transaction is value accretive when you consider comparables in recent uranium resource purchases of PDN for Aurora Energy ($1.90/lb), Niger Mining NGM ($2.40 /lb) and ARMZ?Uranium One for MRU ($10.26/lb).
When you consider that the Aurora Energy resource in Newfoundland is subject to a uranium mining moratorium by the traditional landowners, the benchmark prices being paid for highly characterised (measured, indicated and inferred) and large uranium resources is now benchmarked and highlights the sheer value of the combined Hansen purchase price.
My opinions only but, as always, best regards to all holders.
BLR Price at posting:
6.2¢ Sentiment: Hold Disclosure: Held
