UXA have problems with holdups on drilling and the market is unforgiving in this environment.
Between $1.6 and $1.8 million is ring fenced for their share of exploration in the JV with RIL Australia. That part looks OK.
GAA Wireline Australia will make a loss this year though income from the Texas side should offset this loss by year end. The improvement at GAA Aus will only be due to drilling contracts for UXA at 3 areas in the current year. Thus no contribution from GAA and a big disappointment this is.
Dome 5 is the only near certainty to find zinc and lead. The market isn't expecting much so good results will be uplifting.
Yambla is really an unknown and we will see if the enthusiasm at UXA is borne out by excellent surface nodule results. A very big surprize indded if UXA come up trumps drilling here.
The Myroodah and West Myroodah areas are but forgotten know prospects here so far.
UXA Price at posting:
3.0¢ Sentiment: Hold Disclosure: Held
