Black Range Minerals price and volume growth prompts ASX speeding ticket Tuesday, January 29, 2013 by Bevis Yeo
Black Range Minerals (ASX: BLR) has been attracting investor attention in the last week with shares rising 150% to an intra-day high of A$0.02 today from a closing price of $0.008 on 21 January.
During this time, about 150 million shares have traded hands, prompting the ASX to issue a price and volume query.
Black Range said it was not aware of any material information that has not been disclosed to the market, which may explain the sudden investor interest.
It also did not provide any other information that might have explained the price and volume movements.
The company had on 22 January reported that its modified Ablation processing circuit had returned uranium recoveries in excess of 99% from samples of mineralisation from its Hansen Deposit in Colorado.
This provided further confidence for Black Range that the purely physical Ablation process will be able to produce a high value concentrate from the 90.9 million pound Hansen/Taylor Ranch Uranium Project.
Proactive Investors noted on the same day that with the combination of high recoveries and one of the largest uranium resources in the U.S., Black Range’s market cap. was demonstrably low on a peer comparison basis at less than $0.14 per pound (at the share price of about A$0.010) compared to the peer average of about $1.14 per pound.
BLR Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
