REY just released the presentation on 24, Nov.In which the high...

REY just released the presentation on 24, Nov.

In which the high lights are:

1, Defined large potential size of basin -511 Mt thermal coal JORC resource

2, 9-11 billion tonnes of exploration target coal (<350m depth)*

REY's total project area is approximately 8,000 square kilometres.

As UXA's Mudjalla project area is approximately 800 square kilometres, and 10 meter's coal intersection already found 500m east of Mudjalla. That's why I believe UXA should have a 1 billion tonnes of coal exploration target for its Mudjalla project.

It's my view that at current share price, UXA's coal and HREE potential is free carried by the SHs with a 300%-1000% upside SP potential.

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Backrouund info:

Mudjalla Coal Potential--(closer than REY to the infrastructure.)

The Canning Coal field basin is located immediately to the east of the Mudjalla project and is currently being drilled by Rey Resources Ltd which has defined a JORC compliant thermal coal resource of 511 million tonne.

Historical data records a 10m drill intersection of coal measures in a hole drilled approximately 500m immediately to the east of EA4/2000 and as the coal strata strike is approximately east-west, it is reasonable to assume that the coal measures extend to the west beneath the Mudjalla project area.