BLR (ASX) your plan after a no vote?

Originally posted by mudguts ↑

Hard one to value slick.

First with an administrator in place, those blood sucking leeches will ensure that they drain even last cent from BLR. Had a few shares go into receiver ship where mcap was far north of this one, only to receive less than 1/50th of the value back after the administrator had finished with having their way. (almost an 18 month wait too I might add)

How much is the ablation machine worth as a sum of its parts, might have cost $2m to get to where is it at this point in time. How much would a mining company pay for an ablation machine (say the 5 tonne) with no mining permits, no NRC nod of approval & no resolution to the frantic rate of wear, plus no proprietary license for the idea. Wouldn't the money be in the idea/ patents, even if it had to be sold of to a specialist engineering company or BIG U miner that could afford the overheads of research & development.

Can't see them getting any where near the $2m for what is (currently) a not workable machine.. It's not like it's say a jumbo or a remote loader or similar machine that you can calculate the number of hours / maintenance etc & basis your bid on expected returns.. Whoever buys will want it cheap,,,. At $20 a tonne scrap value is nothing.

Hansen well that opens up a whole new kettle of fish. Originally permitted for hard rock - never proceeded , license now lapsed. Can't do ISR, ablation was to be its saviour. Call or email Lee & see what sort of head winds any prospective miner will be up against. Whilst it may not stop the production, certainly will need deep pockets & time to overcome...Nobody will pay $5lb for the resource when permitting has as many hurdles as this one has to overcome, plus BLR don't own this 100% of this resource yet, only the option to take up the rights to 100%.

Is it currently overvalued where it sits (from an administrators perspective)?
Watching this one with interest to see how it plays out.

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Honestly can't see how and why shareholders would allow a 90M/LB @ 600 PPM resource, PLUS 2 completed ablation units........... to just slip away, over a 400k loan.........