one year weekly chart., page-4

hi jhaldoctor

i have some information that i managed to dig out from google. This is regarding hansen deposit only. so, if we put things into perspective, BLR will be the top 5 ( may be top 3 - you just never know who else will be in the game) largest uranium deposit in USA by the time they secure the hansen deposit- i really hope they do.

i was lucky enough to buy in at 1.5 c when james dines flash a BUY signal for the general market ( gold, uranium, rare earth) one year ago. at that time nobody wants BLR at all except some long term holders. I managed to pick up 1m heads at that time. - i have averaged down my large holding of BLRO over the last 2 years as well. I am just sitting and waiting patiently (sometimes impatiently).

the market sentiment for uranium is still poor and will pick up this year. ( peak uranium shortage will likely be in 2013). so that valuation that we you got does not usually gets the appreciation from the market until later. we are also at the mercy of the global market.( we are not out of the woods yet from the spill over from the global financial crisis)

I think, BLR may be able to decrease their OPEX and CAPEX if they secure the whole hansen deposit. well, it may be lower if the article below regarding the in situ process holds true. having said that the coloradoans doesn't like in situ processing that much.

we just have to wait for the news. i will not be surprise if a larger company like PDN comes into the picture in due time.

( THE MANAGING DIRECTOR, MH, AND THE OTHER STAFF , INCLUDING THE PROJECT MANAGER , BEN VALLERINE ARE IN THE TOP 20 SHAREHOLDER AND OPTIONHOLDER) I WISH THEM SUCCESS FROM THEIR HARDWORK SO THAT WE CAN ALL BENEFIT FROM IT TOO :)

have a read of the old article below. NOTE THE PRICE TAG OF HANSEN DEPOSIT ONCE UPON A TIME - THE URANIUM PRICE THEN IS SIMILAR TO OUR CURRENT SPOT PRICE

http://www.wma-minelife.com/uranium/articles/art4.htm

PAYDIRT OCTOBER 1996
NZ acquires old Cyprus Hansen uranium property; is considering in situ production

New Mexico and Arizona Land Co. (NZ) has signed a contract for the purchase of a 10,000-acre ranch which
contains a major deposit of uranium, the company reported.
Located in the Tallahassee Creek area, near Canon City, Colo. the uranium deposit was formerly known as
the Hansen ore body. Previous studies by independent geologists have indicated Hansen contains up to 25
million pounds of uranium oxide equivalents, NZ said.
A major pert of this uranium mineralization occurs in two thick pods, which together cover only about 40
acres.
Bill Pope, NZ chief executive, said the planned acquisition will be a significant step toward augmenting NZ's
traditional asset bases in uranium and rural lands, both of which are experiencing favorable trends.
He said the mineral rights would be purchased by NZU Inc., a wholly owned subsidiary, while most of the
surface estate would remain with NZ for future development.
The initial focus would be on the potential for environmentally benign in situ leach mining, said J.D. Sphar,
vice president of minerals for NZ. He noted that the deposit has several economically attractive characteristics
for ISL mining.
These include good mineralized thicknesses at modest depth and in sediments saturated with water of such
poor chemical quality as to be unsuitable for other uses.
Sphar said many technical reports and a considerable amount of technical and environmental data are
available from prior plans for a large mine-mill complex at the property.
Cyprus, Westinghouse planned mine
The Hansen property has a long history with Cyprus Mines Corp, where it was known as Cyprus Hansen.
In 1978, Cyprus sold a 49 percent interest in the property to Wyoming Mineral Corp., a wholly owned
subsidiary of Westinghouse Electric Corp.
Westinghouse, which at the time was a major supplier of nuclear reactors, was hungry for uranium.
Westinghouse was then faced with 14 lawsuits filed by 20 utilities after it cancelled uranium fuel supply
contracts in September 1975.
The suits sought delivery of 69 million to 85 million pounds of uranium at contract prices over the following
two decades.

Westinghouse was suing, too. It had antitrust suits going against 29 foreign and domestic uranium producers
and their agents, alleging price fixing and allocation of uranium markets.
Back in 1978, Cyprus estimated reserves at the site were about 30 million pounds.
Hansen was named for James G. Hansen, Cyprus' former senior vice president for mineral exploration.
Open-pit mine planned
Cyprus was to be operator for all exploration, development and production at Hansen. Funding for licensing,
development and construction of the open-pit mine and 3,000 tpd mill was to be provided by the two firms on
a pro rata basis.
When Westinghouse bought in in 1978, the furms were looking at production by 1983.
But by 1980, the price of uranium had began to flag. In the early '70s, uranium sold for around $6 per pound, a
price that rose as high as $43 by mid-1979. A year later, however, it had dropped to $30, a five-year low, on
its way down.
The reason was oversupply. In 1979, producers turned out 37 million pounds of uranium oxide, while utilities
consumed only24.8 million pounds.
Rich Canadian competition
At the same time, rich new deposits were being discovered in Canada and Australia with up to 30 times the
grade as domestic ore, which averaged only 2.2 pounds per ton in 1979, down from 4.2 pounds in 1969.
By that time, Amoco (Standard Oil Co. of Indiana) had acquired Cyprus and the new company soon decided
to abandon the Hansen project, which had a price tag of $225 million.
The decision also came soon after the Three Mile Island reactor incident, which further eroded uranium's
image and demand.
Amoco and Westinghouse planned to wait until the market for uranium became more stable -- a situation that
wasn't to occur.
This isn't the only uranium action in the Canon City area. Earlier this year, Cotter Corp. said it was reopening
its uranium mill there, which closed in 1987.
The company will be spending about $1.5 million to refurbish the operation, taking advantage of a price that
has risen to $16 per pound.
The Cotter mill could be on line by late 1997 or early 1998, producing 1.5 million to 1.7 million ppy over three
or four years.