UXA - UXA Resources

[noirua]

Re: UXA - Uranium Exploration Australia

Market depth this morning showed 160,000 shares bid at 5.7c (long before market official opening) with a lowest offer at 5.5c for just 18,000 shares. After the 750,000 trade at 5.6c late yesterday there MAY be someone picking up stock.

Bought some stock today but finding only 3,500 shares offered at 5.8c (up 0.5c from the low earlier in the week). Not keen to push price up yet.
Stock has Reliance as its major partner at 8 tenements in SA and NT. The WA Myroodah exploration starts later in the year and the Crystal Creek uranium find is being evaluated further. Geoscience with its PFN tool purchase are 100% owned by UXA.

 

[countryboy]

Re: UXA - Uranium Exploration Australia

noira i admire your reslience and patience with this stock. i only check it out when you post! i agree with an earlier observation that may be they were better off pushing the focus to mining services then finding the stuff themselves.

increased volume is worth looking at

 

[noirua]

Re: UXA - Uranium Exploration Australia

noira i admire your reslience and patience with this stock. i only check it out when you post! i agree with an earlier observation that may be they were better off pushing the focus to mining services then finding the stuff themselves.

increased volume is worth looking at

Hi countryboy, I seemed to get a bit mixed up in my trading today and rounded up my stock in the first buy, and then only got part of the second purchase and will probably round up again next week - I hate having odd amounts of stock.
My main reason for buying is that the shares, IMHO, have little in the price for a possible strike and are at asset purchase value plus cash.
Moved up from a low of 5.3c to 5.9c this week but with low trading it may not mean that much. Was interested as trades for 100,000, 200,000 and 750,000 came in during the week and were always a fraction above the previous trade.

 

[noirua]

Re: UXA - Uranium Exploration Australia

Will add to my holding in UXA today to round up my holding - providing nothing unexpected happens. Trading bid 5.9c - offer 6.1c Thursday close and I will show my hand so you can check my trade - wont place trade until market opens as someone beat me last time and cocked up my trades. As my trading is online from across the pond, something might go wrong.

*Back in a moment when I've double checked the number as my maths could be wrong.

**OK, I'm back. Should be 98,029 shares, though my broker (having to use my UK broker at the moment) doesn't give me much leeway as it says I've only £3,746.37 ($6,090 approx) left in my account.

Taking a chance really but may be mildly interesting, who knows - noi

 

[noirua]

Re: UXA - Uranium Exploration Australia

Will add to my holding in UXA today to round up my holding - providing nothing unexpected happens. Trading bid 5.9c - offer 6.1c Thursday close and I will show my hand so you can check my trade - wont place trade until market opens as someone beat me last time and cocked up my trades. As my trading is online from across the pond, something might go wrong.

*Back in a moment when I've double checked the number as my maths could be wrong.

**OK, I'm back. Should be 98,029 shares, though my broker (having to use my UK broker at the moment) doesn't give me much leeway as it says I've only £3,746.37 ($6,090 approx) left in my account.

Taking a chance really but may be mildly interesting, who knows - noi

*** Bid now placed for 98,029 shares in Uranium Exploration Australia Limited at 6c a share - at approximately 10-15am.

 

[noirua]

Re: UXA - Uranium Exploration Australia

*** Bid now placed for 98,029 shares in Uranium Exploration Australia Limited at 6c a share - at approximately 10-15am.

Trade was executed at 10.34am for 98,029 shares at 6c a share. Will continue to buy shares - proof needed I know - once my Aussie broker has satisfied a question raised.

 

[countryboy]

Re: UXA - Uranium Exploration Australia

easter is a great time to sit back enjoy a comfortable read. i digested most papers and was pleased to see a theme of selling U to india in few ( probably same article rehashed thru several papers) Our arrangement with Reliance is very small for the indian company but significant if we can find some uranium. (I also hold a parcel of BWN who are in bed with another indian company..i think the tax man is also occupying the same bed) looking long term for this relationship to blossum.
i will continue to hold UXA comfortable that my new strategey/philosophy is supported by some young business journalists who scored the job of writing over the easter period.

 

[noirua]

Re: UXA - Uranium Exploration Australia

ASX announcement of an agreement between UXA and CUL (Cullen Resources) to explore in the Harts Range in Yambia (within EL 26142) about 140Km east of Alice Springs. UXA are managers of the exploration.
UXA will spend $800,000 over 3 years to earn 75%, and have an option to pull out after expending $150,000.

UXA have said that they plan to aggressively explore this tenement covering a geophysical survey, field sampling and shallow drilling.
Field work will begin at the end of April and shallow drilling in late 2010.

The area surrounds and is of similar geology and uranium prospectivity to the Yambia project.

 

[noirua]

Re: UXA - Uranium Exploration Australia

UXAs present financial position does point to fund raising again: Especially as the cost of buying Geoscience was A$5.29 million (all paid in cash) and the cost of purchasing the PFN tool rights from the Americans cost A$1.34 million (25% with a loan and 75% paid in cash by UXA).

UXA are likely to wait for the next runup in the stock as they did in 2009 to raise further cash. This time they may need less with Geoscience contributing some profit.

Capital raising in 2009 was at 10c a share (now standing at 5.5c) and raised A$5.26 million from sophisticated investors and A$3.4 million from shareholders in a capital raising exercise.

Cash in the bank was at A$5.81 million at 31st Dec '09 and compared to A$4.069 million at 31st Dec 2008: Loss from trading was A$2.39 million compared to A$1.76 million in the previous half year.

UXA expenditure is A$750,000 over 2 years at Myroodah, W.A. (may pullout after spending A$250,000) and A$800,000 over 3 years at Yambla, NT (may pull out after spending A$150,000).

UXA have some costs with a tenements JV with a subsidiary of Reliance and ongoing costs at the Ngalia Thrust, NT tenement.

3rd quarter results are out at the end of April 2010.

 

[noirua]

Re: UXA - Uranium Exploration Australia

UXAs third quarter report was inline with expectations.
All SA 100% owned tenements are put on hold awaiting partners in drilling the tenements.
Exploration at Yambla J/V awaits ground drying out after heavy rains.
Exploration at Myroodah will start in May due to heavy rain.
Exploration at 4 ELAs (Three Hills, Mt Barry, Lake Torress and Nantilla) - JVs with Reliance - in NT await go ahead from land council.
Evaluation of Crystal Creek continues and exploration at Annie Springs, NT.
Drilling dropped off at Geoscience due to heavy and persistant rain, and was a bit disappointing.
Cash fell to about $4 million after paying part of the cost of the PFN Tool Co in the USA.

 

[noirua]

Re: UXA - Uranium Exploration Australia

Company is keeping many things close to their chest. Former MD Patrick Mutz is now with Deep Yellow, and Toro Energy abandoning the Napperby Project could leave an opening for UXA who retain Patrick Mutz on an advisory basis.
UXAs purchase of Geoscience was the brain-child of Patrick Mutz.
The UXA directors are not saying anything at the moment.

 

[noirua]

Re: UXA - Uranium Exploration Australia

Uranium Exploration Australia Limited (UXA) have now completely updated their website at: http://www.uxa.com.au

 

[countryboy]

Re: UXA - Uranium Exploration Australia

they dont mind using the share price as a measure of success ?? front and centre with an up /down call beside it and at the bottom of the page a chart heading slowly south. Most companies place a wee link in the corners to the ASX site.

 

[noirua]

Re: UXA - Uranium Exploration Australia

they dont mind using the share price as a measure of success ?? front and centre with an up /down call beside it and at the bottom of the page a chart heading slowly south. Most companies place a wee link in the corners to the ASX site.

A very good point. If I wanted to drive the share price down I'd put the poor stock performance on the front page. That's only my thinking; surely not!
On the otherhand, maybe they have good news up their sleeves and want to show a spike in the stock price; surely not!

At the moment UXA are still evaluating their Crystal Creek tenement; the uranium price has tanked so my guessing is that they are up-the-creek on that one. The Annie Springs area on the same Ngalia tenement is still being evaluated.

Later in the year UXA will be drilling their JV areas at Myroodah and Yambla. They seem to be hoping for near surface uranium as previous figures are in the 400ppm range and deeper mines need around 1,000ppm to be feasible in these markets.

UXA have some JVs with Reliance and a number of ELAs that look promising.
All the other 100% owned tenements have been dropped for the time being.

 

[Miner]

Re: UXA - Uranium Exploration Australia

they dont mind using the share price as a measure of success ?? front and centre with an up /down call beside it and at the bottom of the page a chart heading slowly south. Most companies place a wee link in the corners to the ASX site.

Country Boy
Congratulations for batting to partner the stand alone innings (good one) by Noriua.
Nothing on UXA but thought to cheer up the thread appreciating how lonely but active Noriua has been in this thread.

Good work folks

 

[Huitzii]

Re: UXA - Uranium Exploration Australia

Hi everyone im new here and a new investor.
I have been watching UXA very closely over the last few months and think I may be making an investment with them in the near future (about a month or so) probably about 300,000 shares im thinking.
Noirua you may well have another batting partner lol
IMHO the recent advances by UXA with GEO and the PFN tool are a huge step in the right direction in finding what they are looking for.
ATM they are being pushed around with many variables including the EURO and china,but if UXA is to be successfull they will need more backing than they allready have from RIL,which im sure they will achieve.
Patrick Mutz is a must for UXA to retain as an advisor if it is all to come together for them later this year and into the future.
Well thats all that I have to say ATM and im hoping to hear from you all
Cheers Huitzii

 

[noirua]

Re: UXA - Uranium Exploration Australia

Hi everyon, Thanks for the comments. Tough times in the mining sector these days unless Henry, and Rudd and Co decide to leave it 'till later as far as introducing the mining super-tax is concerned.

I notice there is no sign of director buying at these low levels and directors were exasperated about the share price at 6c, well it's now 4c. Unless they add stock themselves I doubt the 4c level will hold today.

A well set up company are UXA, though they face further cash raising in 2011 unless they curtail exploration further and build on their Geoscience purchase.

A fair gamble are UXA on exploration in the second half of the year. Yes a gamble.

 

[Huitzii]

Re: UXA - Uranium Exploration Australia

I have a couple of negatives besides the super tax and economic climate which have been niggling at my brain.

Does anyone know what happened with UXA's assets between the years of 2008 and 2009 according to their annual reports in 2008 they had 10.6M in total assets and in 2009 there was 4.7M in total assets, 6 million in assets disappeared without any major purchases or sales that I can see.

Also another thing that is bugging me is the admin running costs in this financial year, being 1.76M in the 9 months ending March 2010 compared to the exploration cost of 1.01M in the same period.

I realise and agree that UXA is a gamble in the next 18 months but hey im a gambler, I set up my online trading account yesterday as im away from home for a good part of the next month.

Any info on my concerns would be greatly appreciated as it seem that noirua knows more about UXA than most so please share your knowledge as I want to learn as much as possible about UXA.

Like I said in my previous post,I like where UXA seems to be heading with their aggressive approach but i still have some concerns that I need to be clear in my head before I throw any hard earned cash their way
Cheers Huitzii

 

[noirua]

Re: UXA - Uranium Exploration Australia

Hi Huitzii et al, Firstly I notice that UXA finished Friday at bid $0.038 for 41,589 shares; next lowest offer was $0.047 for 192,928 shares. Probably means nothing but it caused me to cancel a market opening bid at $0.04. Will come in late on Monday.
UXA directors have always replied to my emails but give not much away. No clues to what is going on.

UXA bought Geoscience ($5.29 million; $5.599 million including stamp duty) and PFN Tool ($1.23 million) during the last trading year, and raised funds in a placing and rights issue.
This makes it difficult to work out the true value of UXA.

UXA made a $96,000 profit from Geoscience in the second quarter and it looks as if profits in a full year should reach $400,000 - $450,000.

Cash was about $4 million at the end of the second quarter, with debt at around $3.16 million.
It looks as if explorartion and office expenditure will run at close to $4 million per annum - at a guess.
If we take Geoscience at cost, PFN tool, and cash remaining (allowing for debt) this is at 4.1c a share at 31st March.

The future drilling at Myroodah and Yambla; uranium find at Crystal Creek and JV with Reliance are valued at zero. A matter of opinion as to whether this is right with expenditure going forward.

UXA are affected by lower uranium prices and the Henry proposals. Value is difficult to estimate.

Nb. My holding in UXA is considerable in my portfolio. I am buying stock and due to low turnover this may affect the stock price.

 

[Huitzii]

Re: UXA - Uranium Exploration Australia

Thanks for your input noirua.
Atm there are critical concerns with the Euro and the Yuan this could possibly see a short term fall in the Aussie dollar and depending on the outcome in China it could very well affect our exports to china and in turn see the all ords fall below 3800 ,this makes me a little nervous because if this does happen (just a speculation) we could see a further drop in confidence with current volume trade pushing prices as far down as .035 or so over the next few weeks.

I understand now where some of UXA's costs are at but it doesnt explain the 2008 /2009 cash flow but as you say they hold their cards very close to their chest.

I done a little playing with simple moving averages earlier on this evening and it showed no immediate positive changes, so at the moment and over the next few weeks it would probably pay for me to just watch everything closely to try and pinpoint the best entry point.
I am looking at both short and long term with UXA ,hoping that the short term investment will help to lessen the burden on the long term commitment, that would be the perfect scenario but as we know speculation is often far from being perfect.
Cheers Doug