1. BLR has debt owed to Azarga, STB and NZ. This debt in total is about A$500k and US13,5 million. The cash balance at the end of December 2014 is in the cash glow statement and amounts to nothing. Where will BLR get the money to pay these two debts? Where will BLR get the money to keep the lights on? Salaries paid in Colorado AND Perth?
Incorrect, read the announcements. The facility extended to BLR from Azarga would have been paid in additional shares, however due to the takeover WUC are proposing to pay it out. Both are options. The 13.5 M also isn't 'debt' it is an option to buy.
3. The pilot machine runs kilos not tonnes. The 5 tph machine is not operational otherwise we would have heard about it. So don't hold out hope here.
Also incorrect, read the announcements. I get that you're relatively knew around here, but don't go around making things up without first reading the announcements. The '5 tph' unit has been mentioned in every Ablation related announcement for the past 12 months. Read them.
4. If there is a scrum in the ablation JV like last the activities report refers to, there will be no ablation contract advancement.
I don't believe the JV can simply be 'dissolved' BLR has been funding the JV since the beginning and it is recorded in the accounts as monies owed by the JV to BLR. The intention was that BLR would take all profits until this 'debt' was repaid. Presumably, this will be rolled over to WUC in the takeover deal. The 'debt' is worth more than the entire offer by WUC.
BLR Price at posting:
0.3¢ Sentiment: None Disclosure: Held
