Black Range Minerals Ltd. Buys Jonesville Coal Project in Alaska 01/6/2009 Black Range Minerals Ltd. has secured a 100% interest in the advanced Jonesville Coal Project in Alaska, USA. It is located about 100 km northeast of Anchorage and comprises two leases covering 1,450 acres. The project includes the historic Evan Jones coalmine, readily accessible from several minor roads that extend from the sealed Glenn Highway which itself passes several kilometers south of the project. A fully operational rail line services the town of Palmer, some 20 km southwest of the project, and provides a rail connection to the port of Seward 300 km further south. Black Range has agreed to buy a 100% interest in the two leases from the current lease holders for: The issue of 15 million shares in Black Range Minerals within 14 days of transfer of the leases to Black Range. The payment of $2 million to the current lease holders on start of commercial-scale mining within the current leases. Also, the current lease owners shall retain a 2.0% adjusted gross value royalty on all production from the project.
Black Range Minerals Ltd. Signs Letter of Intent with Uranium One Inc. to Jointly Develop Uranium Projects in Tallahassee Creek District of Colorado, USA 01/2/2009 Black Range Minerals Ltd. has signed a letter of intent with Uranium One Inc. to jointly pursue the development of their adjoining uranium projects in the Tallahassee Creek District of Colorado, USA. Uranium One currently holds an option to acquire a 39.2% interest in the Hansen Uranium Project. This project is located immediately south of, and adjacent to, Black Range's Taylor Ranch Uranium Project. The owners of the surface rights to the Hansen project currently hold a 51% interest in the mineral rights in the same area. Pursuant to the letter of intent, Black Range and Uranium One have agreed to jointly pursue the acquisition of this 51% mineral interest. Provided such 51% interest is acquired by December 19 2011, the two companies will consolidate their assets in the Tallahassee Creek district and establish a joint venture. It is intended that Uranium One shall initially hold a 60% participating interest in the joint venture and Black Range shall hold an initial 40% participating interest.
BLR Price at posting:
2.4¢ Sentiment: Buy Disclosure: Held
