The share issue at 10c a share is double the 5c offering to earlier investors. Had UXA decided to make an offering at 5c there would, I think, have been some interest. As it is, in this mining sector, hopefully, they have some persons in mind to take up any shortfall.
Somehow the directors do not seem to have picked up on the fact that many have followed the fortunes of UXA Resources since 2006 and some are holders since those days. An additional option for every two shares convertible at 5c a share up to 2018 might have added a fair bit of extra spice.
All the best to UXA and hopefully the weak Aussie will come to their aid - very best of good fortune...
UXA Price at posting:
0.2¢ Sentiment: None Disclosure: Held
