la jolla cove, page-8

Hi RB, I see it more as a change in position that takes the lid off the stock price - UXA no longer have $2.5 million of stock to sell into the market at 1.5c minimum.

The company MD has said that future drilling at Dome5 is to move the resource to an indicated status by confirming the width of seams and to find further resource in nearby areas on the Dome. Zinc and lead grades are very high and the width of seams will be the indicator to a possible commercial lead and zinc mine.

Fair comment though on a possible 1c stock price as UXA are hoping for a profit at GAA Wireline of $500k in the half year to 31st Dec 2011 and the new logging truck in the States should move profits on to exceed $1.2m in a full year.
The GAA Wireline operation looks a good buy in the States at around $3.2m and included PFN Tools use Worldwide. The operation is fully booked for two years ahead. The weaker AU$ has added value to assets and profitability.
GAA Wireline Australia at $5.7m was indeed expensive and dumped by QLD floods into a heavy loss in the year to June 30th. Now profitable with a nearly fully booked situation for two years ahead.