The results are more encouraging though we must remember UXA's target is for a 5 million tonne resource at 10% zinc plus lead and silver.
The only result worth looking at is hole 11DF12 - 3 metre interval at 11.80% zinc, 4.04% lead and 62.91ppm silver.
Depth is over 300 metres so it is still a long way from being able to declare a resource and much further from measured and indicated.
I am more excited about the turnaround at Geoscience Wireline with both the Australian and American branches on track for good profits in the 2012 company year to June 2012. Hopefully the second half year will make a contribution to offset the $1.2 million loss in the first half year.
Sentiment, a hold in the short term but should recover well IF markets turnaround.
UXA Price at posting:
2.7¢ Sentiment: Hold Disclosure: Held
