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UXA - UXA Resources

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Re: UXA - Uranium Exploration Australia

UXA's cashflow has been affected by ongoing payments to them by Reliance Industries for an interest in a number of ELs and ELAs in South Australia and Northern Territory.. The JV arrangement was for some cash up front, some at stages, and part of ongoing tenement costs and exploration.

Weakness in the Aussie$ against the greenback is good news as uranium is priced per lb in US$s.

I am gussing, that UXA are trying to get a partner for their Ngalia Thrust tenement in the Northern territory. (Crystal Creek being noted by UXA as a uranium find.)
UXA have stated they are seeking partners for their 100% owned tenements in South Australia.

I am an investment gambler at heart and my enthusiasm for UXA is on a gamble basis where I accept losing everything is quite possible.
On the otherhand, don't let me put you off buying UXA as they could strike it lucky like any of the mining minnows - or not of course.
 
Re: UXA - Uranium Exploration Australia

Noirua I can see where you are coming from with the high risk factor but im not easily discouraged lol (a fool and his money are easily parted) But in saying that I have a part of me that has a lot of confidence in UXA but my investment wont happen for a few weeks yet though.
ATM im quite happy to keep watching the market because I think that UXA will drop a little more yet before we see a reprieve
Cheers Doug
 
Re: UXA - Uranium Exploration Australia

Huitzii said:
Noirua I can see where you are coming from with the high risk factor but im not easily discouraged lol (a fool and his money are easily parted) But in saying that I have a part of me that has a lot of confidence in UXA but my investment wont happen for a few weeks yet though.
ATM im quite happy to keep watching the market because I think that UXA will drop a little more yet before we see a reprieve
Cheers Doug
Click to expand...
Most trading has dried up with several days at zero and a wide spread between bid and offer. A few days trades were mainly crossed - same broker for buyer and seller, always a ? in my view, and banned in the USA - so a difficult price to judge.
Company is keeping their cards close to their chest and not commenting on speculation. Back in late trading to check again.
 
Re: UXA - Uranium Exploration Australia

UXA is my gamble stock and I may have overbought. Stock price today at 4.3c up 22% means very little really as someone succumbed to an ask of 4.3c - unless they know something, though I doubt it.

Getting closer now to the second half year that should be increasingly exciting as Myroodah and Yambla are explored. Further update on the uranium find at Crystal Creek is due anytime and the Annie Springs exploration also at Ngalia Thrust.
News on the upgrade of ELA tenements to EL are expected and are part of the JV with Reliance in four Northern Territory areas.
Geoscience have integrated the PFN Tool side into their exploration front and further news is expected.
 
Re: UXA - Uranium Exploration Australia

noirua said:
Chairman Neill Arthur speaks at the AusIMM International Uranium Mining Conference 2010 dinner: http://www.uxa.com.au/Latestnews/UXAsChairmanNeillArthursspeechattheAUSIMMInternationalUrani.aspx

Geoscience and PFN tool side of UXA is to become more based in the United States due to the Henry proposals impacting the business ...

http://www.uxa.com.au
Click to expand...


Good link Noirua

I do know how passionate you are with UXA so thanks for your effort to keep us informed.

Couple of things I noted from UXA Chairman's draft presentation (I however did not like his use of capitalised letters and surely a person of his experience knows it).

Is UXA shying away from exploration to selling of PFN technlogy for others to do the exploration. Then the company should advise its strategy more clearly than merely to speak about PFN.

The draft note you have posted was not published in the ASX. However there is another note published in ASX site purportedly to be presented in Aus IMM Adelaide Conference. Attached and only talks about PFN.

The cash position probably suggests the company is stripped of cash. However the price rise in early June and again on Friday 16 June is a puzzling. I am seculating (sorry for being cynical) if the company's brokers are manipulating the price to get a better weighted average before a SPP (my prediction looking into working capital scenario and there is no definite indication) ?

Further UXA is only explorer and long way to become a profitable producer. Why they are worried for RSPT. I think many companies are taking the opportunity to shelter under RSPT. My opinion and not politically motivated.

UXA is in my watch list. DNH and good luck with your efforts.
http://asx.com.au/asxpdf/20100617/pdf/31qw108d7l0gw6.pdf
 
Re: UXA - Uranium Exploration Australia

As you infer Miner, UXA has like all small explorers cash flow problems to be able to continue exploring and they have quite a lot of expenditure coming up at Myroodah, WA and Yambla, NT in the next 12 months.

UXA had $4 million in the bank at the end of the last quarter and about $3 million in loans.

The reason for buying Geoscience and PFN Tool is solely to increase profitability to cover the cost of exploration. The Henry proposals are causing companies to shelve exploration and interest in Australia, so Geoscience and PFN Tool may return to their roots in the USA.
I notice these Henry proposals are the talk of the mining sector in the USA and Canada.

Interesting to see what happens over the next 12 months.

There is very little trading in UXA stock so the price can move either way quite easily. Move in with $10,000 - $15,000 and you can move the price up yourself about 20% or so.
 
Re: UXA - Uranium Exploration Australia

UXA have announced that their JV tenements with RIL Australia, Nabarlek North (ELA 24868) and nabarlek West (ELA 24564), will be ready to start field work in Sept 2010.

UXA have completed rock chip sampling and stream sediment sampling at Yambla in NT. They will target with geochemical and geophysical surveying later in the year.
Results of rock chip sampling have proved encouraging.
 
Re: UXA - Uranium Exploration Australia

noirua said:
There is very little trading in UXA stock so the price can move either way quite easily. Move in with $10,000 - $15,000 and you can move the price up yourself about 20% or so.
Click to expand...
Or, lose 20% or so. :eek:

Potential temporary floor at 3c but geesh, very untidy. :eek:

Maybe an OK trading stock.

If you could short it.
 

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Re: UXA - Uranium Exploration Australia

kennas said:
Or, lose 20% or so. :eek:

Potential temporary floor at 3c but geesh, very untidy. :eek:

Maybe an OK trading stock.

If you could short it.
Click to expand...

Ah yes, but no - trying to move a stock down is more difficult as my recent effort was ignored. Bid above and offers pour in.

Monday's ASX announcement was encouraging for rock chip sampling at Yambla, NT. Though drilling deeper could reveal poorer results, as it did at Crystal Creek.
I hold quite a lot of stock so will be careful about what I say on the recent rock chip sampling results. Especially as the uranium price has tanked to around US$40 per lb and a few Canadian companies are mothballing mines and raising cash to cover losses or big drops in profitability.
 
Re: UXA - Uranium Exploration Australia

noirua said:
Ah yes, but no - trying to move a stock down is more difficult as my recent effort was ignored. Bid above and offers pour in.

Monday's ASX announcement was encouraging for rock chip sampling at Yambla, NT. Though drilling deeper could reveal poorer results, as it did at Crystal Creek.
I hold quite a lot of stock so will be careful about what I say on the recent rock chip sampling results. Especially as the uranium price has tanked to around US$40 per lb and a few Canadian companies are mothballing mines and raising cash to cover losses or big drops in profitability.
Click to expand...

Dear Noirua

I thought to write on UXA with some of my wishful thoughts.

I believe uranium market is turning. Please look at spot prices. Look at BHPB effort on Yeelirrie mine. Look at Toro Energy and Paladin's story. It is slower than earlier trend but with clean energy thrust the smile is coming back to uranium holders.

Now specific to UXA. I believe many moons ago both of us shared the effect of Reliance on this share. Now both brothers who jointly own more money and assets than Bill Gates and the elder Ambani brother (who presented a jet plane to his wife as birth day present) is very serious to uplift the energy market. the two brothers were rivals until recently they have had a truce to work jointly. That is the money spinning point for some.

I think with this global strategy will enable UXA to be looking very seriously. Look at their petroleum assets. Do you realise Reliance Energy pays more money to its employees including Australian expats than Exxon Mobile or Shell pays ? That probably says their smartness and surely UXA is just a matter of time.

India is just hungry for uranium. Reliance has always manipulated government decisions and they are ruthless business people. It is all about money.

So I am keeping UXA in my watch list as a long term situation. Probably 4- 5 years to be realistic.

I am unsure what others will be saying about UXA and happy to learn others' stories on UXA
 
Re: UXA - Uranium Exploration Australia

I've been watching this one closely aswell but I cant find a clear signal.
Everytime it reaches .04 or .044 it tanks to .03 ish
In retrospect it seems to be good for a short trade
As soon as it hits its bottom of .031 again I think I might jump in for the short trade.
Long term for me will need to see something more positive in the relevant company reports.
DYOR
 
Re: UXA - Uranium Exploration Australia

Huitzii said:
I've been watching this one closely aswell but I cant find a clear signal.
Everytime it reaches .04 or .044 it tanks to .03 ish
In retrospect it seems to be good for a short trade
As soon as it hits its bottom of .031 again I think I might jump in for the short trade.
Long term for me will need to see something more positive in the relevant company reports.
DYOR
Click to expand...

Quite difficult trading this stock, though a few more shares on offer at 3.9c now. I bought 40,000 shares at 3.8c/3.9c and that was the only two trades on Tuesday, apart from a small 'crossing trade'.
No sign of directors buying at these levels, though they scoffed at the low price at 6c a shortwhile back, no support there.

Northern Territory Exploration Up-date: http://www.uxa.com.au/Latestnews/NorthernTerritoryExplorationUp-date.aspx
 
Re: UXA - Uranium Exploration Australia

Miner said:
Dear Noirua

I thought to write on UXA with some of my wishful thoughts.

I believe uranium market is turning. Please look at spot prices. Look at BHPB effort on Yeelirrie mine. Look at Toro Energy and Paladin's story. It is slower than earlier trend but with clean energy thrust the smile is coming back to uranium holders.
Click to expand...

I don't know about a smile; more a case of relief that uranium stayed above US$40 per lb. UXA do have a habit of issuing a release in the month a quarterly report is due.

There seems to be quite a lot of people standing around watching UXA without buying stock; both on bulletin boards and among those I know. So far I don't know a single one who has bought any shares. In away I hope they all miss the boat, though there should still be some time left yet to buy; on the otherhand maybe not.
 
Re: UXA - Uranium Exploration Australia

UXA expect to make an announcement on tests of rock chips collected at Yambla in about two weeks. This will probably be before the 4th quarter report is made public at the end of July.

UXA purchased Geoscience and PFN tool in the last year for A$6.7 million plus 5m shares in UXA and cash, $3 million, is expected to have equalled debt at 30/6/2010.
Present market cap at 3.9c is about $7.1 million.
Myroodah, WA and Yambla, NT are at present being explored.
 
Re: UXA - Uranium Exploration Australia

It's January 31 2008 and the then MD, Mr Patrick Mutz was enthusiastic about their Crystal Creek find and other areas of exploration; but now Patrick Mutz has left and UXA never returned to Boardroom Radio as he promised.

The Crystal Creek find did not produce the excellent results that were hoped for, and the uranium price descended from $130 per lb, not to the alright $90, no, but all the way back to $41.75.

However, the above disappointment may be forgotten if surface samples at Yambla, NT, prove to be the exception this time, a future mine I mean. We can't be blamed for thinking it could be the same again here, hopefully not, aye.

Anyway, we have here the super-confident MD Mr Patrick Mutz, back in 2008: http://www.brr.com.au/event/39624
 
Re: UXA - Uranium Exploration Australia

UXA to acquire stake in Mudjalla Project: http://www.wabusinessnews.com.au/en-story/1/81958/UXA-to-acquire-stake-in-Mudjalla-project

UXA stock has been moving sideways for two months now at the bottom of a long fall from 20c. A lot of exploration and drilling in the second half that looks interesting. Myroodah West looks prospective for thermal coal as well as Uranium where UXA have a $100,000 grant.
UXA are also exploring Myroodah and Yambla at the moment, with further results expected for Yambla next week.
UXA also have JVs with Reliance over three tenements in NT which are thought to be going ahead next year.

Nb: I hold a lot of UXA stock and have been buying in the last few weeks.
 
Re: UXA - Uranium Exploration Australia

UXA have bounced off their lows, down to 3.1c recently, and now up to a 4.5c high for the day.
Confirmation of the move for the PFN Tool purchase into the United States has been the main factor here, as cash reserves moved down to $2.68 million from a tad over $4 million at the end of the previous quarter.
Exploration and Exploration drilling will now continue on many fronts in Western Australia, Northern Territory and South Australia.
A placement or increased borrowing is likely to come sooner than expected, in late 2010 or early 2011.
 

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