HangI would like to respond to your post in a civil and factual...

Hang

I would like to respond to your post in a civil and factual manner.

Your words:

"So "near term" of over 5 years is ok???? And still no closer, not even a PFS out, let alone a DFS."

My words:

As the document is 5 years old I don't believe it is relevant, to the many boxes being ticked at BLR over the last few years. There is also the small matter that
" near term " was cherry picked from the document without what was printed at the end of that statement.
ie ( 2-5 years), So "near term" was quantified at the time by management to be a period of (2-5 years)

On the other hand the word "imminent" was not quantified by management of another U company.

Regarding a PFS and a DFS . . . . you should be aware that Mike Haynes has been working on a PFS since October, if you had read through previous ASX announcements. I believe those traditionally educated men of the mining industry still believe a "PFS" comes before a "DFS" . . . . . and up until recently I have never heard of profesionals in the U industry producing an "EES", which is like a DFS without any of the security built in.

Your words:

"Building a massive resource will mean absolutely nothing if they can't proceed to mining. So far they haven't scored highly in that regard. You only need look at BMN to see a massive resource means little to nothing to the market unless you are going to mine it, or at least confirm they will be."

My words:

Having a massive resource as you put it, is flattering . . . but I will have to disagree with the "means absolutely nothing", because for me as a shareholder it shows Mike Haynes has ben busy through a tumultuous period, increasing not only the size of the resource, but the average grade as well. The reason I exercised all my options back in February, was to provide more capital to the company to advance our project. Regardless of all the noise, heresay, rumours, and comparisons . . . . I believe my capital injection has been put to good use.

The comparison with BMN is "Apples & Oranges", and means absolutely nothing for our company, period.

Your words:

" You want to hope BLR comes up with th positives before the next wave of the GFC hits, IMO around June/July this year. When the US starts "QE" to sell off stocks such as GM and the reality of Europe finally hits home."

My words:

Thankyou for your economic forecast and outlook, but from my experience . . . . . the weatherman has more chance of being correct than an economist. Mike Haynes has seen us through a Uranium price collapse, GFC1, getting Fukushima'd, and much criticism. At this point in the project he has acquired the services of Tony Simpson . . . .and I am sure that between them they will work it out in the " near term ", which is for me about 2 years.

Your words:

"Only true "near producers" will remain strong...the others will be hit hard IMO. BLR has potential, however they are about as "near to production" as I am to retirement, no time soon."


My words:

Should my beliefs be more accurate than yours, in the next few years, you will be able to retire on your profits from BLR if you don't leave it too long to come aboard.


SwissB