Ann: Foster Stockbroking Report , page-24

19/3/12

Just further to the reports

Black Range Minerals (BLR.ASX$0.03) BLR is progressing the Hansen/Taylor project located in Colorado USA which hosts a high tonnage (90mlb) high grade (600ppm) resource providing it with the third largest JORC compliant resource within the USA. The appointment of new MD Tony Simpson and recent permitting approval of Energy Fuels Resource Corp (first approval of a uranium mine in USA in 25 years in Colorado) provides us a high level of confidence that BLR can obtain requisite permitting and target production by 2016. We maintain a BUY recommendation and a A$0.10/sh PT

http://www.fostock.com.au/announcements/uranium-sector-set-for-m-a-activity-with-a-re-rating-already-underway-our-preferred-picks-bky-asx-bl