The uranium price is so low there isn't that much to be made out of it in the short term. Confidence that any Nabarlek North find close to Bullroarer will be at a shallow depth but a complete gamble on how much uranium is there - confidence levels look below neutral.
Only real plus is Geoscience Wireline GAA with forecast profits in the first half of $500,000 on $3m turnover. GAA is probably valued around $6 to $7 million. The market cap (before rights issue) at 1.7c, for UXA, is $5.9m -- kind of indicates that the drilling side is valued at less than nothing.
UXA Price at posting:
1.7¢ Sentiment: None Disclosure: Held
