Australian (ASX) Stock Market Forum

UXA - UXA Resources

Jump to new
Re: UXA - Uranium Exploration Australia

I have to admit that we have had alot of talk and very little drilling results. My position is quite small so i am prepared to sit this out.
 
Re: UXA - Uranium Exploration Australia

countryboy said:
I have to admit that we have had alot of talk and very little drilling results. My position is quite small so i am prepared to sit this out.
Click to expand...

It's always annoying having to wait for drilling results. This wait could easily go on for two years or more.
 
Re: UXA - Uranium Exploration Australia

Interesting today with the ASX announcement that 24,544,000 shares and 24,900,000 31/3/2008 options are to be released from escrow on 23rd November 2007.
Many of these shares are held by directors and founding green seed capital shareholders. Will they sit tight or go for the cash?
 
Re: UXA - Uranium Exploration Australia

UXA have identified high intensity Drill Target near Olympic Dam in S.A., at their Playford and Playford South East Exploration licences EL3430 and EL3679.

Relative Gravity signature is more intense than at Carrapateena and Prominent Hill.

Absence of magnetic signature indicates potential hematite IOCGU deposit.

Drilling starts in December 2007.

http://www.asx.com.au/asxpdf/20071120/pdf/315xspr6hfxykg.pdf
 
Re: UXA - Uranium Exploration Australia

I thought this was a pretty good announcement today. 100% owned between the OX and roxby.Now i don't want to get into a"lake Torrens "type speculation of the size and potential of this find BUT i am now holding until the new year and may well increase my holding:D
 
Re: UXA - Uranium Exploration Australia

countryboy said:
I thought this was a pretty good announcement today. 100% owned between the OX and roxby.Now i don't want to get into a"lake Torrens "type speculation of the size and potential of this find BUT i am now holding until the new year and may well increase my holding:D
Click to expand...

I managed to add a few shares as the stock price seemed not to react much to the news, quite surprising. Only my guess, but it may well start to move up through the rest of the week.
 
Re: UXA - Uranium Exploration Australia

Investor Presentation for November 2007: http://www.uxa.com.au/InvestorPresentationNovember2007.pdf

The Presentation is worth looking at and it can easily be seen that UXA could hit it rich sometime, however, nothing for certain as yet. Playford and Playford South East, near Olympic Dam is being drilled, starting this December, and looks quite promising.

More interesting, in the next three months, will be whether UXA manage to get their 43.6 million options away at 20 cents each. Shares now at 25 cents have weakened a lot since the placing and shareholder take up about 4 months ago at 35 cents.
 
Re: UXA - Uranium Exploration Australia

this the last of the U stocks i hold . i bought due to location, location, location. bought more at 24c and 25c today...not much but will be happy to sit and watch the drilling unfold. This ann has me optimistic :

Uranium Exploration Australia Limited (ASX: UXA) has identified a high intensity gravity drill target on its 100% owned Playford and Playford S.E. exploration licences (ELs) 3430 and 3679 in South Australia. The iron oxide-copper-gold-uranium (IOCGU) target was discovered during the review and modelling of recent infill gravity survey data.

The Playford prospect is located 65 kilometres (km) northwest of BHP Billiton's Olympic Dam Mine and 86 km southeast of Oxiana's Prominent Hill Mine development mine on the highly prospective Stuart Shelf in the Gawler Craton :cool:
 
Re: UXA - Uranium Exploration Australia

UXA continue to drift in very light trading, 22.5 cents this morning. News that drilling at Playford and Playford East is likely to be put back to January and lack of good news from previous drilling, weighs on the stock.

As mentioned before, it is about 3 months to the conversion of options at 20 cents per share, and a large number of shares came out of escrow at the end of November, and this MAY be the reason, combined with most investors, at present, sitting on their hands.
 
Re: UXA - Uranium Exploration Australia

noirua said:
UXA continue to drift in very light trading, 22.5 cents this morning. News that drilling at Playford and Playford East is likely to be put back to January and lack of good news from previous drilling, weighs on the stock.

As mentioned before, it is about 3 months to the conversion of options at 20 cents per share, and a large number of shares came out of escrow at the end of November, and this MAY be the reason, combined with most investors, at present, sitting on their hands.
Click to expand...

Trading continues to be very light indeed and in danger of going one full day without a single trade. New shares 25,544,000 and 24,900,000, 20 cents 31/3/2008 options, are out of escrow.

Even my small holding could send the stock into reverse, and others may remain concerned at any of the above escrow holders suddenly wishing to unload a bundle.

Perhaps the gamble price on drilling, probably January 2008, and options at 20 cents, are dragging the price down. Shares need to recover a lot to get all these options away.
Maybe best, imho, to wait 'till April 2008.
 
Re: UXA - Uranium Exploration Australia

Uranium Exploration Australia have been placed in pre-open and the trading halt will be in place until Tuesday 11th December pending an announcement.
 
Re: UXA - Uranium Exploration Australia

noirua said:
Uranium Exploration Australia have been placed in pre-open and the trading halt will be in place until Tuesday 11th December pending an announcement.
Click to expand...


AS UXA stock is in trading halt I suppose it's OK to GUESS what the halt could be about.

I notice that Korab Resources (KOR) were going to float off their subsiduary "Uranium Australia (UAU)" in an IPO this year and raise $20 to $30 million. This appears to have been put on hold, probably the weakness in the uranium sector caused this. http://www.brr.com.au/event/KOR/1771/24068/wmp/b3omx7.cokj

It seems probable that KOR may have approached UXA in some form of agreement where UAU could reverse into UXA and be a quoted company. Further shares in the new enterprise could then be issued in a placing and to shareholders of Kores, the latter with priority as mentioned in the IPO of UAU.

http://www.korabresources.com.au
http://uraniumaustralia.com.au
 
Re: UXA - Uranium Exploration Australia

if this was to happen me thinks the SP will drift lower in the short term
1 -offer of shares for their assets or $$$= dilution
2 - more ground to explore and more capital needed to do this

with no results due that i am aware a JV or what you describe sounds the go

They have a good media skills so it may well be nothing special but dressed up to sound great.
 
Re: UXA - Uranium Exploration Australia

As it turns out the "Trading Halt" was just to announce a Farm-in agreement with Reliance Industries of India: http://www.asx.com.au/asxpdf/20071210/pdf/316d7127fl1g3f.pdf

I suppose UXA are getting the money in for sharing the costs on drilling, though why share Playford and Playford S.E. if you are so confident about the airborne results. Needs a bit of thinking about this one.

Shows another is interested in the tenements even if it would be best to find something first at the Playford tenements after so much was said. Better than neutral, but only worth about 10% on the shareprice, imho.
 
Re: UXA - Uranium Exploration Australia

Have Reliance got 49% of all minerals at Playford or just the U?I would have preferred they drill at least one hole before a deal. This could end up like SRL and ARG with 70% going to Straits .The deposit could have been anything....they don't mind chasing the $ this crew.
 
Re: UXA - Uranium Exploration Australia

countryboy said:
Have Reliance got 49% of all minerals at Playford or just the U?I would have preferred they drill at least one hole before a deal. This could end up like SRL and ARG with 70% going to Straits .The deposit could have been anything....they don't mind chasing the $ this crew.
Click to expand...

You'r right countryboy, it does make you wonder whether they signed up the deal before the survey came in or are now not that confident about Playford afterall. Only the MD and the board of directors know the answer to that one and I doubt they'll tell. - noi
 
Re: UXA - Uranium Exploration Australia

Hey noi or cb,

Could one of you explain to me exactly what that escrow release announcement means?

Im interested as to why my investment is suddenly worth 10% more today!

Cheers,

Rhys
 
Re: UXA - Uranium Exploration Australia

The explanation given to me is, ...that UXA need about $50 million to fund all of the current drilling programmes in the Northern Territory, South Australia, Western Australia and NSW. The only sure way to fund these, in a short period of time, is by JV's, where the partner is certain to be able to fund their way in building up their interest in each exploration tenement. Interest is usually in the more promising areas and that which fits with a companies current expertise, which in itself is to the advantage of UXA...
 
Re: UXA - Uranium Exploration Australia

UXA have certainly shifted up a few gears to hit 32 cents this morning from last wednesdays low of 22.5 cents. This is due to the JV with Reliance.

Boardroom Radio in an interview with Mr Patrick Mutz, MD, " India's Reliance Industries Signs Farm-In Agreement with UXA": http://www.brr.com.au/event/UXA/1841/37940
 

Similar threads

System
RIE - Riedel Resources
2
Replies
25
Views
8K
Telamelo
T
R
IRAQ: the Big (neo) Con
Replies
1
Views
5K
basilio
basilio
Top