G evening Grant,
Firstly, BLR does not own 100% of Hansen Taylor, it owns today 24,5%. It is fictitious, possibly illegal and an outright lie for anyone to suggest BLR owns 100% of the project. BLR needs to pay 13,5 million to own 100%, which clearly it can't .
Secondly,as BUC has suggested weeks Ago, WU could have an agreement with the other side of the ablation JV and not need BLR. This guys are mates of Glasier. So the WU purchase is not a must complete transaction for WU. So you are correct here.
The ore at HT is low grade, particularly compared to the WU ore. And has no vanadium co credit. Plus HT will be delayed in start up due to lack of funding.
Thirdly, I have spoken to a broker in Canada who knows Glasier. He told me Glasier has had many approaches from other mines in the region to supply ore. I do not know this as fact but I can tell you that this would make sense. And therefore HT, although a big deposit, is not a requirement nor is it a must have property. There are many other properties that are closer to the Western Slope area of the Sunday Complex thst have vanadium. HT does not hold vsnadium in its ore, unlike Glasier's mines. The mill will proceed with or without HT. If the deal gets voted down, I can assure you that no HT ore would every be toll milled at Pinon Ridge. So BLR shareholders would be in a jam. White Mesa could be full of EF ore and Shootaring will never restart.
Glasier holds all the cards. He can get ablation from his Wyoming mates or via BLR, he has capital in the bank and clearly knows how to raise capital in today's matket, he has fully permitted mines ready to start production, he knows the permitting people in Colorado, he knows the legislators in the State Senate, he build the White Mesa Mill so he knows how to construct a mill, and more. This is the type of experienced person we BLR shareholders need to make back our BLR losses..
Cait
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