You must have doubts about the Lind loans, wangjanglang?
At the moment UXA have loans secured for $7.5m from Lind and have $6.5m to draw on after September and UXA have 1y 9months to draw this down.
The main concern is the remaining La Jolla Cove loans that can be converted into UXA shares at a 20% discount. The last $250k can only be converted at 0.4c.
UXA have repaid the majority of their Bank debt and will soon only have La Jolla Cove and Lind debt, excluding GAA Wireline.
UXA Price at posting:
0.2¢ Sentiment: None Disclosure: Held
