Australian (ASX) Stock Market Forum

UXA - UXA Resources

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SP is still struggling. Thinking about topping up my holdings while its sitting where it is. I just watched an interview with MD Russel Penny.

FNN
 
frankie_boy said:
SP is still struggling. Thinking about topping up my holdings while its sitting where it is. I just watched an interview with MD Russel Penny.

FNN
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UXA's uranium find at Nabarlek North is only encouraging and will need a lot more drilling and liason with Uranium Equities' who are drilling only a few hundred metres away between their Bullroarer find and UXA's tenement at Nabarlek North.
UXA's find is at shallow depth so 200ppm is a cut-off point and several holes are well above this. However, uranium prices are well down now so many mines producing are marginal.
UXA are testing samples of drilling for HREE and will notify results when they are available from the assay office.
 
After raising $2.5m it at least takes the pressure off for a while. Now UXA can drill away to their heart's delight at Dome5 and later at Myroodah - until the crunch comes later. What's that? Well, they have short term loans to repay; $1,446,000 due in 6 months, $840,000 in 12 months and $1,090,000 in 1 - 2 years (see Annual report).

Never mind though as Dr Penney MD is on extras now should he find a good commercial resource - if it's lucky him, it's lucky shareholders as well. MD is looking to confirm a good wide resource at Dome5 where thay have found high grade lead and zinc and zinc is very much something he knows about.

Hope is left but the pressure is on now and I think it's a good bet on whether UXA wins or time runs out on them. Over 12 months, I go 6/4 'jolly good find', 1/5 'stumbles on some how', 2/1 'surprise low bid', 10/1 'goes bust' and 12/1 'buyer wants GAA' -- sums it all up after 6 years of no commercial finds.
 
noirua said:
After raising $2.5m it at least takes the pressure off for a while. Now UXA can drill away to their heart's delight at Dome5 and later at Myroodah - until the crunch comes later. What's that? Well, they have short term loans to repay; $1,446,000 due in 6 months, $840,000 in 12 months and $1,090,000 in 1 - 2 years (see Annual report).

Never mind though as Dr Penney MD is on extras now should he find a good commercial resource - if it's lucky him, it's lucky shareholders as well. MD is looking to confirm a good wide resource at Dome5 where thay have found high grade lead and zinc and zinc is very much something he knows about.

Hope is left but the pressure is on now and I think it's a good bet on whether UXA wins or time runs out on them. Over 12 months, I go 6/4 'jolly good find', 1/5 'stumbles on some how', 2/1 'surprise low bid', 10/1 'goes bust' and 12/1 'buyer wants GAA' -- sums it all up after 6 years of no commercial finds.
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6 yrs of no commercial finds?

:banghead:
 
frankie_boy said:
6 yrs of no commercial finds?

:banghead:
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Yep, sums it all up really. Go to the website and look at the new presentation link and you will see that UXA's position in exploring for uranium at Nabarlek North, West and Pandamus West look certain to make a Uranium find at some stage.
Uranium mines are difficult to get underway these day but UXA has a 49% partner in India's largest company Reliance Industries. http://www.uxa.com.au

Vote for favorite forum at: http://www.thebull.com.au/the_stockies/forums.html
 
noirua said:
Yep, sums it all up really. Go to the website and look at the new presentation link and you will see that UXA's position in exploring for uranium at Nabarlek North, West and Pandamus West look certain to make a Uranium find at some stage.
Uranium mines are difficult to get underway these day but UXA has a 49% partner in India's largest company Reliance Industries. http://www.uxa.com.au

Vote for favorite forum at: http://www.thebull.com.au/the_stockies/forums.html
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UXA Resources look set in my view to suddenly recover from a terrible fall from 52c to as low as 1.2c - few fall quite this far. Value of their uranium holdings at Pandamus West, Nabarlek North and West, under a JV with Reliance Industries of India should be set for a re-rating in line with the whole uranium sector.
 
noirua said:
UXA Resources look set in my view to suddenly recover from a terrible fall from 52c to as low as 1.2c - few fall quite this far. Value of their uranium holdings at Pandamus West, Nabarlek North and West, under a JV with Reliance Industries of India should be set for a re-rating in line with the whole uranium sector.
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Not yet picked up on as a mini-minnow with vast uranium potential in Arnhem Land.
 
zippy69 said:
Lets hope they get discovered soon and the share price explodes.
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May be next year before any drilling results arrive for uranium, zinc, lead and silver, so the only uplift in results may come from susidiary GAA Wireline Limited at the halfway stage.
 
noirua said:
May be next year before any drilling results arrive for uranium, zinc, lead and silver, so the only uplift in results may come from susidiary GAA Wireline Limited at the halfway stage.
Click to expand...

At last some progress as UXA appear to be heading for an American quote or an outside chance of the sale of their American subsidiary GAA Wireline USA. The presentation over their also stressed the excellent uranium prospects at Nabarlek North and West and Pandamus West.

Finished the week at 1.7c up from 1.2c not long ago.
 
Edit*

Must read properly before posting replies.. :/

I was trying to understand how there is a investment with an Indian company when there has been a ban on Uranium to India. This now being lifted though should see some good trading.
 
UXA are up 30% this week and 60% up on the 0.8c year's low point. Continued interest in La Jolla cove's, an American investor, efforts to publicise and push forward UXA and its American subsidiary GAA Wireline.
UXA drilling at Dome5, NSW, is due for completion about now and assay results are due.
 
seems it always stagnant in 0.01 sometimes up to 0.011 and sometimes down to 0.009...

looking forward to the future of this stock..

any idea anyone?
 
Sergio said:
seems it always stagnant in 0.01 sometimes up to 0.011 and sometimes down to 0.009...

looking forward to the future of this stock..

any idea anyone?
Click to expand...

Results for Dome 5 drilling for lead/zinc/silver are not now due until late March and drilling at Nabarlek for uranium may not happen until later this year. Confidence at Dome 5 is not better than neutral on a commercial find and future drilling in Arnhem Land is yet to come good in a lacklustre sector.

GAA Wireline is different and the company is now bubbling with success. following the Queensland flood setbacks, both in Aus and The States.

Borrowing are a concern and La Jolla Cove are taking up shares instead of dividend payments at around 0.8p a share. Both good and bad, cash going into UXA but dilution is not good news for shareholders at such a low price.
 
noirua said:
Results for Dome 5 drilling for lead/zinc/silver are not now due until late March and drilling at Nabarlek for uranium may not happen until later this year. Confidence at Dome 5 is not better than neutral on a commercial find and future drilling in Arnhem Land is yet to come good in a lacklustre sector.

GAA Wireline is different and the company is now bubbling with success. following the Queensland flood setbacks, both in Aus and The States.

Borrowing are a concern and La Jolla Cove are taking up shares instead of dividend payments at around 0.8p a share. Both good and bad, cash going into UXA but dilution is not good news for shareholders at such a low price.
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Why the sudden increase in volume recently? Any ideas? Are we expecting something soon?
 
UXA Resources have announced a share sale of up to $15,000 per shareholder at 0.73c a share; this to cover future drilling.
Unfortunately shares can be bought in the market easily at 0.7c or sometimes 0.6c. So there is a high chance of failure unless someone takes/builds a big stake by supporting the stock price.

Recent drilling results were poor at Dome 5 though two more holes were drilled in January with assay results due soon. Drilling results from Straights Resources on 9 tenements are also due soon.

Borrowing from La Jolla Cove resulted in them converting debt into UXA stock and forcing the price down. This could happen again.
 
UXA have now moved from 'very high risk' to one that must be unacceptable to most investors.

Market cap at 0.6c is a little over $3 million. New debt over the next three years is $7.55 million and convertible into shares at a 9.8% discount. Looks very adventurous at best.

UXA have taken in addition $1 million from La Jolla Cove which they have converted mainly into shares at a 20% discount; last price 0.49c against a last trade at 0.6c.

UXA have taken a further $750,000 of a $1.5 million further loan from La Jolla.

UXA also have a $3m major debt to banks.

The money will help UXA continue their drilling program. If they fail the lions, tigers, wolves and vultures have taken up position.
 

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