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towie

35,149 Posts.

961

05/08/15

13:13

Post #: 15754256
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Originally posted by andrew a ↑

Hi Buc, I wish that was the case as well but unfortunately not so.

I have taken the view & the calculated risk that holders have the best chance to make some money or recoup (some/all) unrealised losses by backing the deal.

I have added to my position at .002c getting my average down significantly in the new merged entity (assuming the deal is completed which I think is reality)

If you buy at these levels you are effectively buying into the new merged entity at CAD$ 1.43 which is significantly less that the last sale of CAD$4.73. ( 1 A$ = CAD $0.95727). If I was to sell now - it would be at a massive loss.

Whilst we do not know what the new entity will trade at post completion we do know the 52 week low was CAD $2.75 ( last placement ) the 52 week high at CAD $4.73. Also WUC acquired Pinnot Ridge and effectively started its new life at CAD $3. The BLR acquisition & also the recent Sunday complex resource upgrade & potential for albation add's upside ( maybe the market has already part or fully done this?).

Yes capital will need to be raised , that is a given but I do think the new entity will be able to do so much easier and with less dilution than if BLR was to stand alone. The resume of the directors and also the large shareholders of the merged group do give me additional confidence. Plus I believe the Canadian market is much more uranium focused than here & is much closer to where the assets reside.

I have accordingly voted yes and will soon put my vote in the mail.

NB...I still need to work through the issue properly of how I might sell my holding if I wish down the track given the overseas CSE listing.

Sincere best wishes to all BLR holders.

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Hi my big concern ( Apart from OUR massive loss on BLR ) is we will not have a ready market for our new WUC shares. Another concern is that with the expected credit raising needed by WUC ,we as non American residents may not get the opportunity to maintain our already decreased holding in BLRs assetts . The plus is that WUC should go up when they obtain BLRs very undervalued assetts DYOR Comments looked forward to Towie

BLR Price at posting: 0.2¢ Sentiment: Hold Disclosure: Held
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New Predator, page-21

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