BLR 0.00% 0.2¢ black range minerals limited

mike's been busy

  1. 240 Posts.

    Haynes is back

    MIKE Haynes has been around the block a few times, working for BHP Minerals and the then separate Billiton. He was on the boards of the former Iberian Resources (taken over in 2007) and Bellamel Mining, swallowed in 2008 by Norton Gold Fields (NGF).

    Now he's running Black Range Minerals (BLR), which hopes to become a uranium producer in Colorado, and two months ago relaunched the former listed Mobilesoft as Coventry Resources (CVY).

    Haynes got a bit of a surprise. He had expected the Canadians to be on their game, technically and financially, when it came to gold mining. But no. Gold companies there are having trouble raising cash and, while they do a lot of underground mining, the Canadians are not up to speed on open-pit mines. He believes the Aussies can teach them a thing or two.

    Coventry has $5.6 million in the bank. It relisted with the Ardeen project in Ontario, where recent drilling has returned gold grades up to 27 grams/tonne. Last week it picked up the Cameron Lake project with 447,421 contained ounces of gold at an average grade of 5.42g/t.

    Ontario has some pluses, says Haynes. Its mining law is fantastic, it's well endowed with gold targets and the grades are higher than most in Australia.
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