It seems that two ASX companies involved in the Uranium sector have not put immediately acceptable offers on the table for GAA Wireline Australia, and PFN Tool worldwide excluding The United States and Canada.
UXA are desperate for cash and the directors appear set on continuing to drill at Dome 5 for Zinc, lead and silver. A contrary view is to mothball all drilling at Dome 5 until the sector improves and to include Arnhem land with the low uranium price.
Perhaps UXA would be best to just sit on their 20% interest in 7 tenements in SA with Straights Resources as they pay all of the drilling costs. Overheads need to crash in cost but at least UXA would then be an outfit others may be interested in.
UXA Price at posting:
0.2¢ Sentiment: None Disclosure: Held
