The scoping study is using their global "resource" (inferred) at 74.8mt at 0.028% with a cut off of 0.01%. The grade is incredibly low for the scoping study to measure much IMO. Heap leaching may be possible, but as yet they don't even have any "reserves" (indicative/measured). This is the reason why BLR is suffering, along with the rest of the sector but the enormous spelling mistakes in their reports does them no favours (someone isn't even using spell check).
Also, IMO, BLR/O has somewhat of a clouded and dirty register. BLR is an old shell that Ascent Capital (Warner e tal) bought for peanuts in 2004 after which they endeavoured to explore for copper with very limited sucess.
Anyway, be aware that there are/were 35,000,000 unlisted 0.1c options (1/10 of a cent) that expired at the end of 2007 that were issued after the capital re-structure in very late 2004. Also, 120,000,000 shares were issued at 0.25c (1/4 of a cent) and another 120,000,000 shares were issues at 1c to raise the $1.1m odd needed for re-listing. Many of the above mentioned options have been converted.
The current cash position is saving her.
BLR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
