Straights Resources Limited's drilling on UXA's 9 tenements in...

Straights Resources Limited's drilling on UXA's 9 tenements in South Australia are UXA's only short term hope.

La Jolla Cove have $750,000 more shares to sell into the market, if they want to, and all bought at a 20% discount. UXA may call on a further $750,000 from La Jolla Cove adding further pressure on to the stocks price -- down from 51c to 0.5c -- as 'AussieBulls' say, "this has become intollerable".

UXA may borrow a further $7.55 million on different terms but these may also be used to buy more shares at an 8.8% discount and sold into the market.

Yes! If Straights Resources find nothing commercial and uranium prices stay low then there is no way of stopping the ROT.

UXA may have to go for a consolidation of one share for every 100 held at present = 50c a share.

If there are no commercial finds then GAA Wireline will become a forced sale and in 3 years time there could be so many billion shares in issue it is impossible to calculate.