uxa looking to sell 49% of gaa wireline, page-8

I have been watching UXA for some time now trying to decide if I want to buy or not. Definately not at this stage.

Yes the GFC and bad weather have impacted GAA Wireline. But there is always a wet season and the previous owner must have ridden the downtimes successfully. What is different now?

GAA Wireline is a logging company, that uses various tools to detect resources yes, but these tools are run downhole after the drill rig has drilled the hole, so on UXA exploration sites they would still require the drill rig as well as GAA Logging so no money saving there.

I will be interested to see how UXA repays the Geomech loan IMO it will be La Jolla. So they loan from one to pay another.