"The board believes that the acquisition of GIL represents a significant growth step for the Company??s borehole logging business, allowing UXA to capitalise on its investment in the PFN technology. There are a number of operating uranium mines in the Western US, predominantly mining uranium using the in-situ leach method. These mines and a large number of prospects currently being drilled in the area are exploiting sandstonehosted uranium deposits which inherently suffer from disequilibrium issues which the PFN tool is designed to overcome."
"GAA is the owner of Prompt Fission Neutron (PFN) technology worldwide and is the sole provider in Australia. The PFN is an important tool for the uranium exploration and mining industry worldwide as it overcomes the problem of ??disequilibrium?? which is present in many uranium deposits."
"PFN also has the operational advantage of giving immediate results, without having to wait for laboratory geochemical assay results. The tool has been used extensively in the development of a number of uranium deposits in South Australia and North America and has been responsible for documented cases of significant uranium deposit discoveries previously missed by the traditional gamma logging techniques."
UXA Price at posting:
4.2¢ Sentiment: LT Buy Disclosure: Held
