Ann: Mines and Money Presentation Sydney , page-2

A straight forward and well presented compact presentation in Sydney.

Again number one is GAA Wireline that is worth more without UXA than with it. First half predicted $0.5m profit on $2.8m turnover, and fully booked in the USA and Australia for two years ahead.

UXA Resources without GAA Wireline looks like a cash drain. So we have a cash cow peeing the profits down the drain.

UXA still have drilling plans for Pandamus West, Nabarlek North and West. $1.4m left in June 2011 and RIL Australia has 49%. Looks good on the uranium front eventually, but are UXA big enough to carry on without giving up most of their 51%?

Dome 5, NSW, is an effort to get a 5m - 10m tonne Lead, zinc and silver mine, with 10% lead + zinc. A surprise if this one comes off at over 300 metres deep.
They compare Dome 5 with the Cadjeput Zinc mine in WA; I don't think so, as theirs is an average 160 metre depth with resource average thickness 4m.

Then after Dome 5 is Junction Dam, South Australia for Gold and copper. Looks a better prospect. Should they have drilled there first?

As to the Canning Basin, where is the cash going to come from ??????????????

If UXA can not be stopped from drilling then they need to find a good uranium strike at Nabarlek North or loads of zinc and lead at Dome 5!

A good idea GAA funding UXA drilling but so far its only made a $0.7m loss to June 30th and needs to make at least $3 million profit per annum if UXA wishes to survive.

My money is on GAA Wireline surviving well and UXA ending up with small percentage interests in their remaining tenements.
A name change to GAA Wireline Ltd., and UXA Resources put out to grass.