The mining sector is woefully beaten up with majors like BHP seriously looking at their asset base. Despite being on the floor there may still be total obliteration to follow for many more in the sector. All this means that there is no hurrying required as far as UXA getting back to market is concerned and zero requirement to expend capital on fruitless drilling.
Any upside here is if UXA can pursuade companies to use their money to drill for a few years in return for a big stake in any future mine that may result. Always some hope finding a near surface uranium discovery such as the Nabarlek mine - ho hum, former Chairman Neill Arthur never had any luck in the past and who says the present director trio will do any better.
Only good plus for Aussie miners is the low Aussie$ against the US$. So there is hope down the line but it may be as long a trip as Adelaide to Darwin via Alice Springs, yes, a good point, and Alice Springs is a fair trip across outback scrub land to the port of Darwin.
UXA Price at posting:
0.0¢ Sentiment: None Disclosure: Held
