Quite busy at the moment so dont have time to go into detail,...

Quite busy at the moment so dont have time to go into detail, but there is a potential red flag for UXC.
check out their half year balance sheet, from memory a significant amount of debt has now become current.

With cash flow being so thin, this may put pressure on the company from its bankers upon refinancing.

I was wondering why they did the 1 in ten bonus share, as this smelled fishy. Generally bonus shares are issued when the share price becomes to expensive (something like csl did a few years ago). But why issue bonus shares now with the share price depressed.
I think the bonus share was declared to create an added incentive to excercise the options.
This suggests to me that they really most of the options excercised in order to raise cash for the current loan.

Now i could be wrong on this i havent spent alot of time on it.
But i have exited my position (at a loss)just after the release of the financials.

There are too many opportunities in decent small caps at the moment to leave my money in an average company such as this. I think management is 'too smart for its own good' and has got caught.