UXA is one of the world's poorest performing stocks having collapsed from 51c to 0.6c. They have now gone for the near impossible with the increased danger of massive dilution becoming a rout.
UXA need to hit it big-time though their past record has been less than terribly unfortunate.
They need Straights Resources to announce a commercial find on the 9-tenements in South Australia, and quickly stop the dilution rot. Other than that, it will be a while before drilling starts again at Nabarlek or for gold and copper near Dome 5.
Needs UXA directors to grab many bulls by the horns to get hold of a 'get out of jail card'.
UXA Price at posting:
0.6¢ Sentiment: None Disclosure: Held