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UXA - UXA Resources

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Re: UXA - Uranium Exploration Australia

UXA had to dump the takeover of Geoscience Australia as they failed to get the borrowing arrangements agreed. They were profitable at the time of the deal, so UXA are left with no profit making ventures now.

$4 million in the bank as of a few months ago and if they continue drilling at the 2008 rate then it runs out sometime in 2010. 9 months ago there was $7.3 million in the bank.

Ngalia Thrust tenement did at least come up with some uranium, so an outside possibility here. Maybe worth a cent or two on the share price and could run up to 7 cents in the next month or two, imho.

UXA seem interested in obtaining more brownfield sites. Good in one way, but are they saying the present tenements are not that promising now?
At some stage UXA will need more cash, but with the share price so low it could be bad news for current holders. Last rights issue and placing was at 35c and then the stock plunged to a 3.8c low.

Reliance are partners in four joint ventures (EL3430 Playford, EL3679 Playford SE, EL3428 Roxby Downs W, EL3470 Glenside) in South Australia and this is good if they stay on board. But will they? http://www.brr.com.au/event/40470
Above link is dated 29/1/2008 and is an interview with the now retired Managing Director Mr Patrick Mutz, about the joint venture with Reliance.
 
Re: UXA - Uranium Exploration Australia

Two presentations released today by UXA:

http://www.uxa.com.au/Announcements2009.html#mar25

http://www.uxa.com.au/PresentationOnTheRoadToDiscoveryMar2009.pdf

UXA is very actively reviewing opportunities to farm into brownfields (advanced) uranium exploration projects in Australia or overseas
Click to expand...

I found this to be positive point, like you already mentioned noirua it could be them saying they've turned up duds or it could be management positioning themselves for what is going to be increased demand for uranium over the medium term.
 
Re: UXA - Uranium Exploration Australia

Of course the day I sell out it jumps 40% in the next two days.

I still stand by my reasons, as far as I can see they don't any good uranium deposits. Most of it have turned up pretty sour.

The only thing going for them is the JV with Reliance.

This surge could just be sentiment change towards uranium in general.
 
Re: UXA - Uranium Exploration Australia

Hi rhyslivs et al, Stock has taken just under a month to reach 7 cents, and as you said it looks like a general perking up in the uranium sector that has done the trick.
Some trading each day now after a long quiet period.

General Meeting agreed an increase in stock that could well be placed this year. Management are good at talking up the stock price if they get the bit between their teeth.
 
Re: UXA - Uranium Exploration Australia

this my only spec U play.bought in on the strength of the ground they held and its closeness to U mines.this doesn't mean they have u

My spec plays are bit like long shots in a horse race,,great return if they deliver but I am prepared to loose the lot

not sure how long you have been in UXA rhys but i can understand the conclusion you came too
 
Re: UXA - Uranium Exploration Australia

With UXAs MD stating any uranium find would probably not be developed within 10 years, it does query the companies likely cash requirements.
Gold looks like being the only speedier option for this, has not found any uranium, minnow.
Relying very much on their Indian partner Reliance, UXA need a strike fairly soon to bolster cash raising requirement next year.
 
Re: UXA - Uranium Exploration Australia


The "Russel Penney Interview" from April 10th ( some music confusion): http://www.uxa.com.au/MediaArticles.html#april10
 
Re: UXA - Uranium Exploration Australia

UXA are recovering well and are now at 11c, well up on their 3.8c low point. Enthusiasm has risen over the drilling operations at Ngalia Thrust EL24566 (242km²) in the Northern Territory. Positioned between Bigrlyi and Ngalia Walibri.
http://www.uxa.com.au
 
Re: UXA - Uranium Exploration Australia


Uranium find at last, high grade they say at Crystal Creek in the Northern Territory on the Ngalia Thrust tenement: http://www.asx.com.au/asxpdf/20090716/pdf/31jl86j7cdc0wy.pdf
 
Re: UXA - Uranium Exploration Australia

Felix stock price is now up 350% from their low point at 17.5c and 65% down on their high point of 51c - http://www.uxa.com.au

Gamble is on drilling later in the year, when winter is over, as to whether the Crystal Creek find is extensive or not. The find is near Palladin's Ngalia Uranium tenement (not a mine as yet) which is much further progressed since work restarted in 2005.

Much to go for here, no not yet. Much to gamble for here, possibly yes. That about sums it up here - only invest if you are a gambler and willing to lose the lot for possible big gains.
 
Re: UXA - Uranium Exploration Australia

Trading Halt: The shares of Uranium Exploration Australia Limited (UXA) have been placed in pre-open on the ASX at the request of the company.
 
Re: UXA - Uranium Exploration Australia

pending the release of an announcement by the Company of fund raising via a book build

cheers

another quality post brought to you by happytown inc
 
Re: UXA - Uranium Exploration Australia

This cash raising appears to be principally to buy Geoscience for a price not much different to the one aborted earlier this year ($5 million plus 5 million shares). Found some uranium and all of a sudden everyone wants in, at a massive discount however, who wouldn't?

Geoscience profits are a bit of a secret, to me anyway. The website of the company http://geoscience.biz/ avoids the finances completely. Making a profit for sure, afterall, UXA say they are and so they must be.

Looks as if new shareholders and existing shareholders get a bite of the cake at 10c per share (discounted from 17.5c) but a feeling some institutions are in for an immediate profit.

At 13.5c the shares may still go lower still. After all, the find at Crystal Creek, Ngalia Thrust NT may yet come to nothing.
 
Re: UXA - Uranium Exploration Australia

Quite a cash call by UXA in issuing so many new shares at 10c. Stock Xrights is now down to 13c and looks likely to test the 10c placing price.

Existing shareholders can invest up to $15,000 no matter what their share holding - 1,000 shares or 1 million or more - and smaller holders may not have much spare cash and larger holders able to afford above $15,000 - outcome should prove interesting.

I'm not certain buying Geoscience (GAA) for $5 million + 5 million shares is quite the good idea that it's portrayed to be. The mining sector is generally down and I would like to see more information on orders to see if they are likely to remain profitable in this climate.
 
Re: UXA - Uranium Exploration Australia


Try as I might there appears no good forecasts on the profitability of GAA and it's trust the company now. No doubt controlling GAA will please the mighty Reliance Industries, or rather their small Aussie subsidiary, and if the Uranium sector (exploration drilling side) takes off, the influence and availability will be key factors.

Selling to take up the cheaper rights option at 10c may have pounded the UXA stock price. May remain depressed and fall to the placing price or slightly lower.

Drilling at the Crystal Creek at Ngalia Thrust for further uranium will prove an interesting wait and will keep uranium gamblers happy for a while. In the end, if the further results are not that good then all the cash will be used up and we'll be looking at GAAs profitability to support further exploration and drilling.
 
Re: UXA - Uranium Exploration Australia

GAA is the owner of the PFN technology to be used in UXA's exploration program. GAA is a major provider of wire-line logging services to the mining and exploration sectors, with a principle focus on Uranium and more recently coal and coal seam gas. UXA will remain committed to Uranium Exploration.

This acquisition is a significant step forward in the development of the Company.
 
Re: UXA - Uranium Exploration Australia


What were the profits in the last financial year for GAA and are there any forecasts for the future?
If further drilling at Crystal Creek proves not to be commercial, would GAA profitability be good enough to sustain the present drilling programme?

No one doubts UXA's commitment to Uranium Exploration but there remains some financial risk on the drilling programme going forward. As with all small explorers money and the raising of it can be problematic, fortunately UXA's Crystal Creek find has helped fund raising this time.

I continue to hold UXA stock whilst recognizing the significant gamble factor.
 
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