"...Even in this market turmoil on the news that BLR announced you would have expected a sustained rise. Instead it has been smashed down. There has to be something outside the square casuing this weakness. Does the market just not believe the results? Will there be a probem actually getting to production?..."
When a company announces that it has doubled it's targeted resource, and it's shareprice falls below what it was before the annoouncement, something has to be wrong. I posted this yesterday....
re: something smells like... Stock Code: BLR - BLACK RANGE MINERALS LIMITED Posted: 14/08/07 13:48 Hotcopper Radio: BLR on BoardRoom Radio Posted By: The Apprentice Views: 343 Post #: 2028696 (In Reply to msg #2028599 from Pennypincher) Sentiment: None IP: 211.26.xxx.xxx Voluntary Disclosure: No Stock Held
The problem with this announcement is that it has been made to look sensationalistic, by coming straight out and saying *****46M LBS*****, and then going on to say that it is at a cut-off of 0.01%......there is no way that 46lbs will ever be extracted at that cut-off....absolutely no chance.
It's as if they are trying to hoodwink people, and I think people are awake to that.
What also makes people suspicious also is that it is not even a proper drilling report.....where are the drilling results showing us the intersections, and at what depths??? It was the first thing I looked for whilst reading yesterday's announcement. THIS IS CRITICAL in determining whether a deposit/orebody will be viable or not, no matter what mining method.....and for them to not be included in the announcement leaves many questions unanswered....least of which is why were they not included??? Is something being hidden???
In my opinion only 29.2M lbs at the 0.025% cut-off can only be considered, and even then, it may well not be commercially extractable.....the absence of the drilling results leaves BIG question marks about the depth, shape and corformity of the orebody, which is crucial in determining it's profitability.
The company will now, in my opinion, be viewed with a level of distrust and caution by the market, at a time when all specs are already on shaky ground.
BLR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
