indigestion on cash raising v exploration

Early next week we shall see how much cash was raised in the 4c - up to $15T issue to shareholders. Unfortunately some problem at UXA failed to resolve funds coming in from foreign domains so a bit disappointing there. Maybe UXA dipped out a bit on the secretarial front for some reason.

So the extra shares in issue will be quite a block at 4c a share and some sellers may cause a temporary slide to test the 4c level. However, others will point to increasing uranium prices and others to the fact UXA have no finds of a potential mine at current prices.

So the push and pull scenario looks set for a while. Will Geoscience and PFN Tool, the latter in the States now, manage to push profits onwards - a question mark there as little is known about the Texas profits; can't be banked on and more cash raising may well be needed a lot sooner than expected.

Basically, UXA need a zinc find at Dome 5 in the next 6 months or so; uranium mines take a lot of setting up to get to big profitability - look at loss making Paladin as a ig instance.

Plenty of potential at UXA but very high risk on the 'finding nothing much' side of things.
Changed my sentiment a bit.