BLR - Black Range Minerals

[nizar]

THis is going to fly 2mrw.
Typical bluesky break but nothing crazy like AUZ or AIM, rather its the beginning of a new run, and sustainable for 1-2 more days, i reckon another breakaway white candle 2mrw...

 

[nizar]

THis is going to fly 2mrw.
Typical bluesky break but nothing crazy like AUZ or AIM, rather its the beginning of a new run, and sustainable for 1-2 more days, i reckon another breakaway white candle 2mrw...

Well not exactly what i thought, but hey.
Nice announcement, high grade drilling results.
SP is making new highs, nice

 

[mickqld]

Much better Nizar just to see it slowly move up and not get too far ahead of itself like WMT did. Long term holder here so just happy to see it build a solid SP rather than volatile up and down movements.

 

[Sean K]

I like how it bounced off 30 this am. Good break up. Market cap 620m shares @ .335 takes it over $200m. Is it worth that? I suppose Mr Market says so. They've obviously got a high grade resource at Taylors Ranch, but do they have the tonnage?

 

[Caliente]

hi Kennas - BLR going through a nice technical breakout on what is another example of insider trading in action.

As for MC, lets take the low-midcase scenario for Taylor Ranch alone. Bear in mind that it is getting upgraded as we speak (referring to ann.!!!)

At 20m lb, a simple calculation suggests that 20X10^6 * $125 and then multiply by 10% for in-situ value.

We have a value of $250m... for the one deposit.

Nothing at this stage apart from the shallow depth suggests they wont be able to JORC this figure - and I'm sure you are aware of BLR's other projects so I wont go there.

If not please rewind the thread for details ^_^

disclosure: monumental disaster aside - holding BLR to production/.

 

[Caliente]

Statement retracted!

superior profit taking this afternoon! One of the disadvantages I assume of being a diehard...

Todays action broken down as follows

Price No.Trades VolTraded ValTraded Av Trade
0.295 18 595,522 175,679 9,760
0.300 106 3,278,139 983,442 9,278
0.305 81 2,099,390 640,314 7,905
0.310 75 1,854,183 574,797 7,664
0.315 44 955,768 301,067 6,842
0.320 108 2,767,652 885,649 8,200
0.325 77 3,047,116 990,313 12,861
0.330 170 7,284,401 2,403,852 14,140
0.335 317 11,290,101 3,782,184 11,931
0.340 89 2,670,081 907,828 10,200
0.345 102 3,800,005 1,311,002 12,853


Virtually all of the 30cent trading happened 15 minutes from the bell, and was consumed almost immediately - however has broken to 0.295.

I cant predict up or down - logic says up/action says otherwise.

 

[Ang]

Guys just remember there has just been a professional placement at 24 cents. My theory is that those guys that were lucky enough to get this at 24 cents have been the ones selling between 29 and 34.5. Why wouldn't they a nice profit, one these opportunists are finished you should start seeing it hold at 34 and my next target is 40 cent, depth of Darvas box. Hang in there guys this one will be a good stock.
PS Wouldn't like to see it below 26 cents, good stop loss
kind reg
ang

 

[miiine]

good point ang...it does seem strange that he share price retreated so much after a pretty good announcement....once the profit taking has finished hopefully it'll surge up a bit

 

[Ang]

I wander if any of the Directors or names named by the company bought any shares on Tuesday when the price went to 34 cents. This is a typical insider trading issue, the price goes up, the next day the announcement comes out and the company says i know nothing. A little disappointed today that the price didn't go any higher as the news is good, however with metal prices down overnight looks like those IPO shareholders at 24 cents are still profit taking.
Kind reg
ang.

 

[ideaforlife]

Hi Ang,

I guess what you have observed is applicable to most small cap stocks. This phenomenon also corresponds with the "efficient market" theory which believes that all the current price has already absorbed any news or information hence there would b no sp movement after ann.

Call it insider trading or what, I believe it's one of the grey area in share market administration - no way for authority to control.

 

[Morgan]

An increase in usual volume for BLR and up 16% this morning.
No new announcements although many uranium stocks up today (execpt for URA of course )

 

[moses]

Interesting. I wonder if this is the first signal of a reversal. There is a whiff of support for the reversal theory from the Neilson SMA (black line rising), but I would stress that its weak and very tentative atm. Ironically, what I like better is the SP rising while the blue line is so negative...what sometimes happens in these conditions is that the SP jumps up sharply as the blue line rises and then all hell breaks loose.

fwiw I've bought a little parcel and will be watching closely. I'd love to see it retrace to previous highs!

btw, what other Uranium stocks are up anything like 16% today?

 

[moses]

And here is tonight's (end of day) SMA chart which nicely illustrates what I was talking about in the previous post re rise of blue line coinciding with SP. Now look back along the graph to work out what is likely to happen should the blue line cross the black line...

 

[ellehcim]

Positive announcement today - more uranium tenement acquisitions and JORC for Taylor Ranch on track for September.

Hopefully a sign of good things to come!

I hold BLR with a long term view.

 

[TedE]

Damn these global sell offs... but I agree with you, this is really one to hold. Will be worth a hell of a lot more then it is now should they prove the 25-30mil pounds as JORC Compliant.

Ted

 

[ellehcim]

Quarterly cash flow and activity reports out today after market close.

I think the highlights were that they have two projects on track for JORC compliance soon - Taylor Ranch (still on track for Sept 07) and North Hansen/High Park (aiming for end 07). These are all within 35km of the Canon City uranium mill - another big plus.

Also an upgrade of total expected uranium exploration for all targets to 35-40 million pounds. This total is a new announcement but adds up individual target totals from the previous announcements, so I don't think there is anything new today - just good to hear all the positives spelled-out and summarised together.

Will be interesting to see if anything happens tomorrow - would have liked to see this put out at open tomorrow rather than after close today.

 

[vert]

announcement out: JORC 46 mil pounds u308 defined at 100% taylor ranch and picnic tree
total more than double companys best case "exploration targets"
company now targeting more than 60 mil pounds u308
scoping study to start immediately to evaluate bringing the companys uranium assets into production
18 mil cash on hand

 

[Ang]

announcement out: JORC 46 mil pounds u308 defined at 100% taylor ranch and picnic tree
total more than double companys best case "exploration targets"
company now targeting more than 60 mil pounds u308
scoping study to start immediately to evaluate bringing the companys uranium assets into production
18 mil cash on hand

With this announcemnt correct me if I am wrong, if the current value of Uranium is $120 / pound the income potential for this stock is 7.2 billion dollars. I don;t know how much it costs to get it out of the ground, however even if it is half the cost say $60/ pound, doesn't this value this comapny at $6/ share. Can any one confirm this ??
kind regards
Ang01

 

[doctorj]

With this announcemnt correct me if I am wrong, if the current value of Uranium is $120 / pound the income potential for this stock is 7.2 billion dollars. I don;t know how much it costs to get it out of the ground, however even if it is half the cost say $60/ pound, doesn't this value this comapny at $6/ share. Can any one confirm this ??
kind regards
Ang01

You can't value a resource company like that... Consider revising your calculation for capex, dilution, opex, admin overheads etc. The inground value will typically be much less.

Also, it should be worth noting that just because it's been given "JORC" status, it doesn't mean it can be economically extractable. Once the company have done more modelling/drilling etc it may become a reserve at which point the punter (you and i) can be reasonably confident it can be economically extracted. Not to say that is the case with BLR, as I haven't researched the specifics, but it is one of the common pitfalls of evaluating explorers.

 

[vert]

whats going on with the sp today?
i thought yesterdays JORC was positive?
dont know how to calc evaluations, can anyone offer their expertise?
surely 48mil pounds equates to alot more than ~$120mil m/c