re: Ann: Presentation to ProActive Investors ...
As always, an improving presentation by UXA that looks just great. However, those of us following the company closely know that commercial drilling success has eluded the company for about 7 years. Uranium at Crystal Creek hailed by the previous MD as an excellent resource sent the shares to 19cents, and before that a silver strike turned out to be silver from a drill bit.
UXA continue to eat cash and borrow more and more or dilute shareholders very badly indeed. Share pricepPeak was 52 cents and recent floor just 0.6 of a cent - very bad indeed.
GAA Wireline looks a good outfit tagged on to a hopes and dreams outfit UXA Resources.
UXA need to adjust their spending markedly downwards and give up very large percentages of tenements in Arnhem Land and the Canning basin. Hopefully some cash would be forthcoming that the company badly needs, if not they live in hope and tempt disaster, and nothing less.
UXA Price at posting:
0.8¢ Sentiment: None Disclosure: Held
