I haven't read all of BLR announcements, but does BLR still only own 24.5% of Hansen.
BLR owns 100% of the minerals rights for the Taylor-Boyer deposits and 24.5% of Hansen with options in place to acquire the remaining rights to the Hansen deposit. In order to exercise these options BLR is required to pay a total of US$4m cash and issue US$9.5m in shares to vendors, STB Minerals and NZ minerals who are currently major shareholders of BLR with 3.2% and 3.4% respectively.