Australian (ASX) Stock Market Forum

UXA - UXA Resources

Re: UXA - Uranium Exploration Australia

crayfish said:
Refer to section 16.5 in this link: http://www.secinfo.com/d1Ze2u.vm8.b.htm%238zl4n
Note the "Concomitant enrichment of silver and tungsten" in core contaminated by drill bit.

16.5 Drill Bit Contamination and Analysis

Although anomalous silver mineralization occurs on the property, erratically high and irregularly occurring silver assays indicated a possible silver contamination particularly in zones of strong silicification, silica sand and incompetent rock. Drill bits were often broken and chipped through these intervals and returned with the core. It was postulated that pieces of milled drill bits inadvertently were included in the samples enhancing the silver values. As such, an effort was made to distinguish between ‘natural’ silver mineralization and silver contamination from drill bit material.

To that end, 30 gram samples of drill bit and adhered core material were gathered by hand magnet and sent for geochemical analysis. Samples were crushed and prepared by ALS-Chemex laboratories in Izmir, Turkey and the pulps were shipped to ALS Chemex in North Vancouver, BC for analysis. Samples were analyzed by fire assay and by ICP-AES with Aqua Regia Digestion. The drill bit samples displayed maximum enrichment of Ag (x8), Co (x800), Cr (x50), Cu (x50), Fe (x12), Mn (x15), Mo (x50), Ni (x30), V (x3), W (x20) and Zn (x30). Based on

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these findings criteria to distinguish the naturally occurring silver from that of the drill bits was determined.

Naturally occurring silver mineralization is characterized by:

Wide intervals of silver mineralization, concomitant with gold mineralization.
Good depth correlation of mineralization between drill holes.
Competent core.
Limited to no drill bit material.
Concomitant enrichment of silver with Sb, Au, Bi, Hg, and some Mo.
Contaminated core displays some or all of the following characteristics:

Isolated, highly-enriched samples within otherwise barren siliceous core.
Poor correlation between drill holes.
Severe reduction of core competency, commonly to silica sand.
Readily apparent drill bit material.
Concomitant enrichment of silver and tungsten (commonly with Co, Cr, Cu, Fe, Mn, Ni and V).
 
Re: UXA - Uranium Exploration Australia

Wow... I can't believe that they use silver in drill bits... Maybe the composite of the noble metal and tungsten is what makes it possible... Surely they'd compensate for the expected shedding of silver in their results unless they are just a bunch of pretenders... :eek:

GOOD WORK CRAYFISH!!!!! I think people should either try MTN or EME
 
Re: UXA - Uranium Exploration Australia

Added a few options this morning and may buy a few more today. Interesting drilling may take place a lot earlier than I thought in some Tenements; Will post more after I have checked whether some information elsewhere stands up or not.
Good luck.
 
Re: UXA - Uranium Exploration Australia

Appears to be quite a large order going through as UXA hold at 35.5 cents. Options remain behind on price and MAY be worth picking up on a gamble basis. Options are at 14 cents and my small buying spree is complete.
 
Re: UXA - Uranium Exploration Australia

I hope those of you who dumped this stock like me have seen the error and jumped back in again. A buyer has just pushed UXA to 37 cents, 348,500 shares traded, options trail at 15 cents.
 
Re: UXA - Uranium Exploration Australia

UXA does need a partner in this Uranium venture. These tenements are mainly large and an enormous amount of drilling is required to done.

Meanwhile the stock price is at 36.5 cents this morning as investors want the stock again.
 
Re: UXA - Uranium Exploration Australia

Quite an encouraging performance by UXA as they rise 4 cents to 40 cents and the oppies to 19 cents. A conversion of 505,000 options will have added $101,000 to the company coffers.
 
Re: UXA - Uranium Exploration Australia

UXA continue to recover at 42.5 cents with the move of the Companies Headquarters to Adelaide shortly.
 
Re: UXA - Uranium Exploration Australia

Uxa always release the appendix 3b annonucement before something significant... Goodluck
 
Re: UXA - Uranium Exploration Australia

UXA it seems, are to issue their planned drilling programme for 2007 with their Half Yearly Report.
 
Re: UXA - Uranium Exploration Australia

I've just bought a few options at 13/13.5 cents, I'm not sure why really; anyway, I thought I'd buy something in the Summer Sale.
 
Re: UXA - Uranium Exploration Australia

UXA recovered a little to 36 cents, up 3 cents, as the 2007 drilling programme will be announced shortly. The parts of the previous drilling programme that were not completed should be available in the next few weeks.
 
Re: UXA - Uranium Exploration Australia

Pandanus West ( ELA 24565 ) in the Northern Territory, immediately to the west of the Old Pandanus Creek Uranium Mine, currently held by Rio Tinto, in the Westmoreland area.
UXA's Pandanus West ELA is part of the largest sandstone-uranium occurrence in Australia, which extends for over a 50 km strike across N.T./Queensland border.
 
Re: UXA - Uranium Exploration Australia

UXA are strengthening in light trading at 38 cents, up 1 cent. The massive area covered by tenements in S.A. and N.T., and there position, increases the chances for Copper, Gold and Uranium, potential recovery.
 
Re: UXA - Uranium Exploration Australia

noirua said:

I had a look at the report, and very un-impressed. Its been 15 months since this company floated, it has great tenements, but UXA have been unable to find anything worth while during this past 15 months. Even the silver discovered was considered unfeasible.

Management is going at snails pace, takes them forever to get things done. They have about a million dollar left, at the pace UXA is going they probably do a few more dud drills till October before they require another cap raising.

Their is better uranium stocks out there.
 
Re: UXA - Uranium Exploration Australia

mhtrieu said:
I had a look at the report, and very un-impressed. Its been 15 months since this company floated, it has great tenements, but UXA have been unable to find anything worth while during this past 15 months. Even the silver discovered was considered unfeasible.

Management is going at snails pace, takes them forever to get things done. They have about a million dollar left, at the pace UXA is going they probably do a few more dud drills till October before they require another cap raising.

Their is better uranium stocks out there.


Hi, It will be Feb 2008 before Felix are able to draw in a considerable amount of cash, that being the option conversion date. Unless some convert early. There are 45,472,500 options due to be converted at 20 cents to bring in just over $9 million - provided the share price stays over 20 cents.

UXA have $1.6 million in the Bank (31st Dec 06) and spent $3.8 million last year. As you infer, not much left for the remaining period to option conversion.

It's a matter, I suppose, of what you think the tenements are worth and the likelyhood of a major find. UXA have moved to Adelaide and seem to be pinning their hopes on six South Australian Tenements and seven in the Northern Territory. Outside possibilities on a few tenements in Western Australia and NSW.

I was told that many of the current bills, director fees and legal costs, are being paid by the issue of further options.
 
Re: UXA - Uranium Exploration Australia

Just read the presentation, one of the most uninspiring ever. I doubt the company's capability. Look, on page 21, try to do a peer comparison, not only it use the out-of-dated share price, but also, the share prices is not on the same day! And there is no conclusion, or a wishful one " Scope for share price appreciation to better align with peers' valuations ".

With so many board members, old, lazy, and error-prone, and almost useless. I hope they can find something by accident with Lady Luck's help to reward long suffered shareholders!
 
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