Black Range Minerals NL

Published : July 31st, 2015

Quarterly Activities Report

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Australia | Coal | Market | Uranium |

Quarterly Activities Report

Microsoft Word - BLR Quarterly Activities Report - June Quarter 2015 (FINAL).doc

Quarterly Activities Report

June 2015

ASX ANNOUNCEMENT 31 July 2015

Highlights

Corporate

Finalised and despatched the Scheme Booklet in advance of the shareholder meeting to be held at 10am on

25 August 2015 to vote on the Scheme, pursuant to which Western Uranium Corporation is seeking to acquire 100% of Black Range

Pursuant to the Scheme, Black Range shareholders will receive 1 Western share for every 750 Black Range shares

The Offer represents a 106% premium to Black Range's share price at the time the Offer was announced and a 224% premium to Black Range's share price on 30 July 2015

Hansen/Taylor Ranch Uranium Project

Continued to acquire baseline environmental data and to advance mine permitting activities

Ablation

Pursuant to the agreement to dissolve the Ablation JV, Black Range has secured a 100% interest in a 25‐year license under which Black Range can develop, market and utilise Ablation worldwide, for use at both its own projects as well as for projects owned by other parties

Black Range has taken sole possession of all of the existing Ablation equipment, including the pilot‐scale plant and the 5tph Ablation Unit

Minor modifications have been made to the 5tph Unit in advance of undertaking further testwork

Corporate

On 29 January 2015 Black Range Minerals Limited (ASX:BLR) ("Black Range" or "the Company") entered into an agreement with Western Uranium Corporation ("Western"), pursuant to which Western agreed to offer to acquire all of the issued shares of Black Range ("the Offer") by way of a Scheme of Arrangement ("Scheme"). Under the Offer, Black Range shareholders will receive 1 new Western share for every 750 Black Range shares held. During the March 2015 quarter, Black Range and Western entered into a definitive Merger Implementation Agreement that formalised the terms and conditions of the Offer.
Based on closing share prices immediately preceding receipt of the Offer, the Offer valued Black Range at $18.5 million or A$0.00617 per share, representing a 106% premium to Black Range's closing price immediately prior to

- 1 -

Black Range Minerals Limited (ASX:BLR)

Suite 9 5 Centro Ave Subiaco, Western Australia 6008 Tel: +61 8 9481 4920 Fax: +61 8 9226 2027 [email protected] www.blackrangeminerals.com


the Offer. Based on the respective closing prices at 30 July 2015, the Offer represents a 224% premium to Black
Range's share price.

On 16 July 2015, Black Range announced that the Federal Court of Australia had made orders for the convening of the Scheme meeting ("Scheme Meeting"), pursuant to which the Company will seek shareholder approval for the Scheme. The Scheme Meeting will be held at 10am on 25 August 2015.

On 23 July 2015, Black Range announced that the Scheme booklet had been despatched to shareholders.

Board Recommendation

Black Range's Board unanimously recommend that shareholders approve the Scheme in the absence of a superior proposal, on the basis that the Offer is considered to be the most compelling alternative available to Black Range shareholders at the current time, in terms of creating future value for shareholders. In particular:

the Offer will provide Black Range shareholders with the opportunity to become part of a larger uranium company, which offers short term production opportunities and the potential to accelerate the commercialisation of its interest in the Ablation technology via a field trial at the Sunday Mine Complex;

the combined entity would control a more diversified asset base, including a combined uranium mineral resource base of >95 million pounds of U3O8 across 9 projects;

Western's management team has considerable experience in the uranium industry, and includes George

Glasier who was the founder of Energy Fuels Inc. and served as its CEO from 2006 - 2010; and

Western's access to further financial backing should provide a higher level of funding certainty in the current difficult market environment.

Each of Black Range's directors and officers intend to vote in favour of the Scheme in respect of the Black Range shares over which they have voting control, in the absence of a superior proposal.
Black Range's two major shareholders, Azarga Resources Limited (which holds ~18.3% of Black Range's shares) and
Siebel's Hard Asset Fund (which holds ~16.4% of Black Range's shares) are both also supportive of the Scheme.

Hansen/Taylor Ranch Uranium Project

During the June quarter Black Range continued to acquire baseline environmental data that will be required for mine permitting. It also continued to advance other mine permitting activities.

Ablation Joint Venture

During the previous quarter agreement was reached to dissolve the 50:50 joint venture between Ablation Technologies, LLC and Black Range (Mineral Ablation, LLC; the "Ablation JV"). In consideration for the dissolution Black Range has been assigned a 100% interest in a 25‐year license to Ablation Technologies, LLC's ablation technology and related patents ("Ablation") under which Black Range will have the right to develop, market and utilise Ablation worldwide, for use at both its own projects as well as for projects owned by other parties.
Black Range can continue to develop, market and utilise Ablation worldwide.

- 2 -

Black Range Minerals Limited (ASX:BLR)

Suite 9 5 Centro Ave Subiaco, Western Australia 6008 Tel: +61 8 9481 4920 Fax: +61 8 9226 2027 [email protected] www.blackrangeminerals.com


Pursuant to the dissolution agreements, Black Range has now taken sole possession of all of the Ablation equipment that has been manufactured to date, including the pilot‐scale Ablation plant that has been utilised for the vast majority of testwork undertaken previously, as well as the semi‐commercial scale Ablation unit that has nominal capacity of five tons per hour (the "5tph Unit").
During the quarter Black Range made minor modifications to the 5tph Unit in advance of undertaking further testwork in the near term.

For further information please contact: Mike Haynes

Managing Director Phone: +61 8 9481 4920 [email protected]

or

Ian Cunningham Company Secretary Phone: +61 8 9481 4920

[email protected]

Caution Regarding Forward Looking Statements

This announcement contains forward looking statements which involve a number of risks and uncertainties. These forward looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. The forward looking statements are made as at the date of this announcement and the Company disclaims any intent or obligation to update publicly such forward looking statements, whether as the result of new information, future events or results or otherwise.

- 3 -

Black Range Minerals Limited (ASX:BLR)

Suite 9 5 Centro Ave Subiaco, Western Australia 6008 Tel: +61 8 9481 4920 Fax: +61 8 9226 2027 [email protected] www.blackrangeminerals.com

Schedule of Mining Tenements

Project

Location

Licence(s)

Ownership Interest

Hansen/Taylor Ranch

Uranium Project

(includes the Hansen, Boyer, Taylor, North Hansen, High Park and Devils Hole deposits)

Colorado, USA

Taylor Ranch

(Private Mineral Lease)

Boyer Ranch

(Private Mineral Lease)

2 State Sections

(Sec. 16 UR3324 State Lease)

(Sec 36.UR3322 State Lease)

197 US Federal Claims

Hansen (Private Mineral

Interest)

100%

100%

100%

100%

BLR owns 24.5% of the Hansen Deposit with two options to acquire the remaining 75.5% of the mineral rights

Jonesville Coal Project

Alaska, USA

2 State Leases

(ADL229336 & ADL324600)

100%

Bullen Property

Colorado, USA

Freehold title - surface and mineral rights

100%

Disposed of during quarter

Nil

Acquired during quarter

Nil

- 4 -

Black Range Minerals Limited (ASX:BLR)

Suite 9 5 Centro Ave Subiaco, Western Australia 6008 Tel: +61 8 9481 4920 Fax: +61 8 9226 2027 [email protected] www.blackrangeminerals.com

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | All
Gold and Silver Prices for these countries : Australia | All

Black Range Minerals NL

EXPLORATION STAGE
CODE : BLR.AX
ISIN : AU000000BLR2
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Black Range Min. is a uranium exploration company based in Australia.

Its main exploration properties are TAYLOR RANCH and JONESVILLE in USA.

Black Range Min. is listed in Australia. Its market capitalisation is AU$ 6.3 millions as of today (US$ 4.4 millions, € 4.0 millions).

Its stock quote reached its highest recent level on June 22, 2001 at AU$ 9.90, and its lowest recent point on July 31, 2015 at AU$ 0.00.

Black Range Min. has 3 131 820 032 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
Nominations of Black Range Minerals NL
10/18/2012Appointment of New Managing Director and Other Senior Manage...
10/17/2012(BLR) - Appointment of New Managing Director
7/13/2012BLR: Key Appointment -- George Glasier Joins Black Range Tea...
Project news of Black Range Minerals NL
9/13/2012Resource Capital Research Report
4/27/2012ASX Announcement - Black Range Selects Development Approach ...
2/14/2012Positive Preliminary Evaluation Of Borehole Mining At The Ha...
Corporate news of Black Range Minerals NL
9/4/2015Federal Court Approves Scheme of Arrangement
9/1/2015Amendment to Secured Credit Facility
8/31/2015Appendix 3B
8/25/2015Results of Scheme Meeting
8/3/2015Correction to Scheme Booklet
7/31/2015Quarterly Activities Report
7/28/2015Appendix 3B
7/23/2015Scheme Booklet and Notice of Scheme Meeting
7/16/2015Federal Court Orders Convening of the Scheme Meeting
7/14/2015Western Uranium Announces Resource Estimate for Sunday Mine
6/28/2015Lodgement Draft Scheme Booklet
6/28/2015Change of Share Registry Address
3/24/2015Appendix 3B
3/24/2015Black Range Secured Independent License to Utilise Ablation ...
3/24/2015Merger Implementation Agreement
3/17/2015Half Year Accounts
3/14/2015Azarga’s Investee Company Black Range Minerals Receives Take...
3/5/2015Replacement Appendix 3B
3/3/2015New Issue – Appendix 3B
3/3/2015Appendix 3B
3/3/2015Extension of Exclusivity Period
3/3/2015Cleansing Prospectus
12/9/2014Change of Director’s Interest Notice
12/2/2014Results of Annual General Meeting
11/4/2014Quarterly Activities Report – September 2014 Quarter
10/28/2014Further Positive Results From Ablation Testwork
10/29/201311/01/2013 - Results of General Meeting
7/4/2013BLR Announcement- $2 MILLION FACILITY FOR COMMERCIALISATION ...
1/9/2013BLR - Placement To Cornerstone Investor To Raise $2.3 Millio...
11/12/2012Non=2DRenounceable Rights Issue to Raise $2.1 Million
11/12/2012BLR Announcement- Non-Renouncebale Rights Issue to Raise $2....
9/24/2012Mr Tony Simpson
7/27/2012Managing Director Tony Simpson Presents to Australian Uraniu...
6/19/2012Foster Stockbroking initiates on Black Range Minerals
5/23/2012Announcement - BLACK RANGE MINERALS PRODUCES INFORMATIONAL V...
2/24/2012Announcement
6/22/2010Release to ASX
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
AUSTRALIA (BLR.AX)
0.0020
AUSTRALIA
AU$ 0.002
09/04 08:10 -
0%
Prev close Open
0.002 0.002
Low High
0.002 0.002
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.002 -%
Volume 1 month var.
110,031,252 -%
Produces
Develops
Explores for Coal - Uranium
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/23/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.48+5.87%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 2.30+0.88%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.10-2.52%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58-1.03%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.14-6.90%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.65-1.85%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 7.09+0.42%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.24-3.92%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.36-1.37%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.91+2.69%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 67.92+5.89%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+6.06%Trend Power :