Tuesday, December 9, 2008

Blazing Saddles

DeepLode enjoys finding penny dreadfuls that turn into golden eggs. Blaze International (ASX:BLZ) might just be one of those.Their past has been in technology with two products called PIXE and Kemelon. They tell us that the first is a pre-compression filter and the second a multi-media messaging platform. While that sounds impressive they have been a flop and are about to be dumped.
But it has one very interesting asset and that is its uranium ground at Yeelirrie . Because of the W.A. government's ban on uranium mining it has sat idle.That has all changed of course with the change of government in Western Australia. The project surrounds BHP Billiton's 50,000-tonne uranium deposit which will certainly be re-activated. While it will take time BLZ may just lay a golden egg!
And Traders Macquarie, an investment outfit run by the very savvy Leon Serry, thinks so as well. They have been buying BLZ in big junks and now sit well up on the register.
BLZ was traded yesterday at 0.006. (one trade for 3 million shares)

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