Black Range Minerals Limited (ASX: BLR; “Black Range” and the “Company”) is very pleased to advise that it has executed a definitive agreement with STB Minerals LLC (“STB”) that provides Black Range an exclusive option to acquire the remaining 51% interest in the ~30 million pound Hansen Uranium Deposit 1in Colorado, USA (see Figure 1).
The Company already holds an exclusive option to acquire NZ Minerals LLC’s 49% interest in the Hansen Deposit. Hence the Company now holds exclusive rights to acquire 100% of the Hansen Uranium Deposit.
Black Range has an exclusive, six-year option to acquire STB’s 51% mineral interest in the Hansen Uranium Deposit and immediate surrounds.
and from the Dec 2013 quarterly activities statement (bottom page)
BLR owns 24.5% of the Hansen Deposit with two options to acquire the remaining 75% of the mineral rights.
So they will need capital raising of funds/loan or issue shares to acquire the remaining 75%? As to date no cash flow from resources or ablation to fund purchase.
Happy to be corrected.
BLR Price at posting:
0.8¢ Sentiment: None Disclosure: Not Held