Geoscience Australia was purchased in August 2008 for A$5.3 million inc stamp duty plus 5 million share in UXA (10c at the time). PFN for use in Australia was purchased 25/1/10 for US$1,271,380. PFN USA was purchased on 12/8/2010 for US$1,875,000.
Geoscience (now part of GAA Wireline) had a turnover expectation of A$5 million in a full year. Bad weather since has scuppered this expectation. There is no guidance to the likely turnover of the USA side.
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On the JV with RIL Australia. In January 2008 RIL paid UXA A$2.3 million for their 51% share of a number of tenements. UXA had A$1.6 million still retained in August 2010 that must be spent on surveying and drilling tenements under the JV.
UXA Price at posting:
4.5¢ Sentiment: ST Buy Disclosure: Held