on the road to significant uranium discoveries, page-6

obviously UXA hasn't got the resources to turn an elephant into an olympic dam, but that's the whole point. they are, like every other explorer, a target for a predator. the majors don't bother to explore anymore and have really spent little on exploration over the past 20 years rather preferring to buy the little guys for a variety of obvious reasons. the trouble with UTO is that they're major prospects are in u308 mining unfriendly states - WA and QLD (for the most past) which could make a discovery a problem. UXA is strategically focused on SA and NT where mining is permitted and known deposits recognized.