The right to purchase shares at 0.73c a share by 5th April is an interesting gamble by UXA Resources, but UXA as a company may now be so small by market cap that they need to hive off about 49% of their interests, including the GAA drilling arm, and a further 31% of the Arnhem Land, uranium JV.
I suppose the UXA directors had to do something if they did not want to buy many millions of shares in the market themselves -- not buying themselves raises questions -- however, they may have made what is an attempt to snooker La Jolla Cove Investors.
UXA Price at posting:
0.8¢ Sentiment: None Disclosure: Held
