Market cap is now under A$4 million putting UXA in the micro mini cap sector.
UXA have a thriving drilling business in the States and Aus, forecast to make at least A$1 million this year. This business cost about A$8 million and a new drilling truck has been added in America.
Costs are reducing with two directors gone from the main board and UXA spreading the drilling risk and therefore expenses.
The companies MD Dr Russell Penney is more upbeat than those outside the company for the next stage of the drilling campaign at Dome 5 prospective for zinc, lead and silver. A great deal more work has been done with the hope the 3.4m width high grade seam covers the remaining area of the dome.
UXA stock has been sold down steadily and may yet have just thrown up an opportunity.
UXA Price at posting:
1.0¢ Sentiment: ST Buy Disclosure: Held
