UXA's 100% owned West Myroodah Tenement, prospective for coal and uranium, has received an uplift with the Rey Resources announcement of higher grade coal than expected at their Duchess Paradise Prospect. This is about 40 kilometres from West Myroodah. REY announced sub-bituminous thermal coal grading 5,539 5,666 Kcal/kg Gar. Total coal reserve is 510 million tonnes.
Rey Resources use a Terex - Highwall Mining System at Duchess Paradise.
UXA announced with their change of name to UXA Resources, a move away from first stage projects in solely uranium exploration. Longer term for UXA but may point to a tie-up with REY Resources further down the line.
UXA Price at posting:
3.5¢ Sentiment: Hold Disclosure: Held