cash, debt, assets; value in tenements

Thanks besttime60 - Value in tenements and exploration is often low due to costs, expenditure etc., and in some cases is really close to zero.

UXA's Fourth Quarter Report is out next week and will probably show cash left ($3 million) as equal to debt. They might do slightly better than that with cash at $3.4 million and debt at $2.8 million, we must wait and see.

Value of assets is difficult to work out and the main ones are Geoscience at $5.3 million including stamp duty (plus 5 million shares in UXA worth $500,000, but now only $200,000) and PFN tool about A$1.3 million
The assets probably valued around $6.8 million and $7.3 million total assets

Profits at Geoscience over 9 months may be about $350 thousand (should be $450 - $500 thousand in full year).

At 3.9c UXA are valued at about $7.1 million market cap.
About the same as the asset value.

Exploration tenements are valued at zero, but markets see further costs in 2010 / 2011 and problems with cash raising in 2011 - may be a bit better if RIL (Reliance of India subsidiary) go for further JV's in Western Australia and UXA can get profits at Geoscience closer to $1 million - a fair chance of these.

Probably undervalued at 3.9c as areas in NT and WA look mildly encouraging, a few areas a bit more than that at Yambla, NT and Myroodah, WA.

Looking to move on to a 5c - 7c valuation though the uranium price at $41.5 per lb has sunk this year.