The cap raising during drilling results reminds me of MEO last year. They did a cap raising during drilling, then announced the hole was a duster and everyone lost 50%.
It is not fair to make comparisons between the two, but this brings back some horrible memories from MEO.
I am angry with UXA now as I do not trust them now. I hate companies that burn existing share holders in cap raisings.
In stark contrast, EVG recently did a cap raising that was above the current share price. They know how to keep share holders on side.
I hope something massive comes from the current drilling program and that I'm eating my words.
Unhappy Toastman.
UXA Price at posting:
3.2¢ Sentiment: None Disclosure: Held
