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UXA - UXA Resources

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Re: UXA - Uranium Exploration Australia

Despite holding a fair percentage of my investments in UXA I can see that the present cash raising from shareholders could create a serious overhang for the company's stock price.

Present market cap at 4.4c a share is $8.8 million (includes shares from a recent placing raising $750,000).

Every shareholder registered at 1st October may purchase up to 375,000 shares ($15,000) and the company looks to raise $2 million. After the China West stock buying interest this is likely to be oversubscribed. How much oversubscription will UXA accept.
From this it can be seen there is an uncertainty that is putting pressure on the share price; down from 5.8c to 4.4c yesterday.
The offer closes at the end of trading on 5th November 2010.
 
Re: UXA - Uranium Exploration Australia

Hmm so do you you think it will go lower than 4 cents per share? I think not, and you must be pretty confident yourself to invest such a relatively* large amount of money it.

I too will buy back in, possibly today
 
Re: UXA - Uranium Exploration Australia

UXA have extended the offer period to 12th November as this followed difficulties in remitting funds from some investors where registrars were not notified of the original extended offer period going out to 5th november.
Take-up so far has not reached the aimed for $2 million as of 2nd November.

UXA notified the arial surveying of Nabarelek and the go-ahead for future drilling of Yambla and Associated Swallow areas including Hof.

popo7: Where did I say UXA would go below 4c a share?
In fact the uranium price is up to US$52 a lb and the zinc price is also stronger. A lot of new stock issued at 4c may well hold the share price back but the only way to buy at 4c remains through the new share issue.
 
Re: UXA - Uranium Exploration Australia

An interesting week ahead, for those who are inspired by very little indeed.

The dash up in the stock price was just China West moving to 5.8% and they're only a tiddler like UXA and also raising cash. Back to normal now as trading high levels drop away.

The cash raising could result in up to 33% more stock being bought at 4c. This will pull the stock down but the multiple areas to be explored throughout most of Australia kind-of auger well in the next few years.

The closing 4.7c stock price on Friday looks fair in the circumstances with little up or downside in the short term.
 
Re: UXA - Uranium Exploration Australia

Despite having no high quality uranium finds and the only find at all at Crystal Creek, UXA should see some further improvement in price as Uranium was shown to have risen to US$53.50 a lb on 1st November - up 28%.
Main uranium prospect is at nabarlek with Pandamus West a more recent show. Much enthusiasm in India over Nabarlek prospects with giant fortune 500 company Reliance involved through their subsidiary RIL Australia.
 
Re: UXA - Uranium Exploration Australia

UXA have just completed an update of their website's front page: http://www.uxa.com.au
The present fund raising exercise at 4c a share ends at 5pm Sydney time on 12th November where shareholders may invest up to $15,000 to raise $2 million.
UXA are at present exploring, updating and drilling at Dome 5 in NSW. This area is particularly known for Gold, Lead, zinc and silver previously discovered by Teck, but not sufficient quantities for a company of their size.
 
Re: UXA - Uranium Exploration Australia

A lot of new shares have arrived on the scene from the $15,000 offer at 4c a share. Upside will be limited for a while and there could be considerable indigestion for a month or so.
 
Re: UXA - Uranium Exploration Australia

noirua said:
A lot of new shares have arrived on the scene from the $15,000 offer at 4c a share. Upside will be limited for a while and there could be considerable indigestion for a month or so.
Click to expand...

Stock looks in decline having closed at just 4.1c a share. The mining sector is down a bit and that hasn't helped, though some may get the chance to pick-up stock at 4c a share this week.
AGM on Thursday
Looking hopeful on the exploration front but it's unclear what some directors are up to, if anything. Excludes MD Dr Russell Penney who appears to be carrying the ship and hopes of a zinc discovery at Zone 5 alone.
 
Re: UXA - Uranium Exploration Australia

Noirua,
Do you have any idea when the results from the yambla stream test may come in ,thanks?
 
Re: UXA - Uranium Exploration Australia

grudgy said:
Noirua,
Do you have any idea when the results from the yambla stream test may come in ,thanks?
Click to expand...

There's no definite date for the results of testing you're awaiting. Testing started for Yambla (U308) and Harts Range (HREE) on 8th November. I'd be surprised if results come in before January, unless they find something very good.
Surface results given in September were very encouraging at Yambla but excellent surface results often lead to not very much at depth.

MD, Dr Russell Penney has been most enthusiastic about Dome 5 with it's zinc prospects. Problem here is depth as I'm sure they'll find zinc but probably close to 1,000 metres deep.

Nabarlek looks the most promising with Reliance (RILA Australia) very confident on a uranium discovery up that way.
 
Re: UXA - Uranium Exploration Australia

The only definite results planned are in first quarter 2011 for drilling at zone 5 for zinc. This drilling is due to complete in December and restart in Qtr 2 2011. MD, Mr Russell Penney is at zone 5 and has been there for a few days - maybe he'll say somthing at the AGM Thursday.

Much of the drilling in very many areas will be stopped until the wet season is finished.
 
Re: UXA - Uranium Exploration Australia

Mining sector has gone down generally, and I have just bought back in with UXA at 0.38. I could not resist the bargain. I am very confident that there is going to be a profitable increase in share price soon.
 
Re: UXA - Uranium Exploration Australia

A 11% drop in the SP today is a bit concerning. Albeit the mining sector is taking a bit of a beating I also thought 0.038 is a good time to buy. lets hope for an upswing in the near future......................after the BIG WET we are meant to have this year
 
Re: UXA - Uranium Exploration Australia

Hit by cash raising and further cash raising in the next 3 months totalling about $5.4 million.
About $1.5 million to purchase a company similar but smaller than Geoscience in America and monthly payments due on the PFN tool purchase.
The drilling company needs to prove itself as the Aussie side was hit by bad weather and the new mining tax in the last financial year.

The next 12 months are crucial for UXA, shortly to become UXA Resources.
 
Re: UXA - Uranium Exploration Australia

I notice that the last distribution by the company came up as UXA Resources which confirms the companies name change since the AGM.

My original comments about UXA and my confidence in the share price has been shattered somewhat. I thought they would stop at the $960,000 placing and $2 million share issue to holders. This would have left, as I thought, the shares requested oversubscribed and some without their full allocation.
However, they are now going for $5.24 million with all applications accepted and a further issue later at a minimum of 80% VWAP.
A different matter altogether and the share price is now under pressure. Maybe some got a few shares more than expected. Also those speculating on a higher price are now unloading some shares.

I thought UXA would trade in the 4.3c - 5c range going forward but may now move in the 3.5c - 4.2c range instead. All a bit disappointing.
 
Re: UXA - Uranium Exploration Australia

UXA shares in issue have increased to 313,200,837 after placings and cash sales to shareholders at 4c a share raising about $5.24 million. [shares closed at 3.7c yesterday]

Only upside is UXA Resources are well cashed up for purchasing a drilling company in the USA for AU$1.9 million and a diverse drilling and exploration programme over the next 18 months or so.

China West's holding has been diluted to just 3.8% and they may wish to use some of their $6 million raised in cash to add more shares to push themselves back to substantial holders - no information on this so far.

Results are awaited on Zone 5, NSW, zinc exploration and Yambla, NT, for uranium / HREE.
 
Re: UXA - Uranium Exploration Australia

Dr Russell Penney MD has increased his holding in UXA Resources to 1,000,000 shares and 3 million options - with a purchase of a further 225,000 shares.
 
Re: UXA - Uranium Exploration Australia

Was scanning the universe of small cap uranium exploration companies, and this stock resonates as an outstanding BUY post raising...exploration is in the right area (rare earths, uranium, zinc etc), stable cash flow to be generated from borehole logging business and in addition to that which has already been raised, incessant insider buying of late, experienced management, tenements in the vicinity of existing proven reserves and corp partners willing to engage with the company and their prospects (i.e. Teck, Reliance, REY, Summit etc)....these are smart companies --> with Gillard recently relaxing our uranium export rules (w/ Russia), thus enabling our uranium to be enriched in Russia, she has alluded to further developing on this and engaging with India...this should be seen as a +ve for UXA with India's largest priv sector investor on board - no coincidence in my mind that they're teaming up with UXA ever since Howard first proposed relaxing our rules re: exporting uranium to countries that are not signatories to the Non-Prolif treaty...all the other major u308 exporting nations (Kazak, Canada namely) have engaged with India, and i expect AUS to do the same very soon...with nuclear renaissance under way, and further reinforced by China's insatiable appetite of late (they continue to mop up commod at basement px's with their trillions of reserves before demand from other countries kicks in and takes the px north - clever eh? and sound familiar a la gold, iron ore etc), this company is a stand out longer term...certainly makes sense to me why there has been a flurry of insider director buying over the course of the past month!
 
Re: UXA - Uranium Exploration Australia

Finding something that is commercial is the problem for so many in the Uranium sector.

Nabarlek is a key area for RILA Australia and UXA Resources and early results should be known in the latter half of 2011. This is probably the most promising area and close to the Ranger Mine.

Zone 5, NSW is UXA's most likely area to find zinc in early exploration (results awaited) and lead, silver and copper later in 2011.

Yambla and Swallows HOF areas are prospective for uranium and HREE, results are expected from December 2010 and later in 2011.

UXA are at present surveying West Myroodah, Canning Basin, WA. WA Government are partly funding drilling for uranium and historical drilling has shown thermal coal of up to 1 metre thickness.

Straights Resources are exploring UXA's 9 tenements in South Australia under a JV arrangement over 10 years.

UXA has a JV at Myroodah on Rey Resources' tenement to explore for uranium with no rights over any coal found. Exploration started in October 2010.

UXA are still evaluating their uranium find at Crystal Creek, Ngalia Thrust, NT; though the find was not as good as expected after very good surface results.

UXA are hoping to cover much of their future drilling costs through Geoscience and PFN Tool both in Australia and Texas. Geoscience Australia was hit by bad weather and the mining tax saga in the last financial year.
 
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