I suspect that they got very close to doing a transaction or amending a deal and then got concerned with their compliance with LR 3.1, hence the trading halt and its just taking a bit longer than they thought to finalise things, hence the Vol Suspension.
Compliance with LR 3.1 can be a bit subjective depending on who's looking.
Agree with Buc, if things fall BLR's way including a strong recovery in the U price then its got the makings of a good stock
BLR Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held