Well looks like our little ride may be over. Seemed like it was...

Well looks like our little ride may be over. Seemed like it was going to go all the way to 10 cents but people have given up already. Went from more buyers to more sellers within a day. The support volume of 1.6m shares seems to just slide down 10% below what the stock is trading at. I was going to stay for the ride but decided to get off for a while and see what happens. With more rain still hitting Aus this week looks like the GAA venture will bleed a bit more cash reserves. I think they will be luck to break even for the quarter. Next quarter should be a lot better though with the industry in catch up mode. Until then though there will be not much drilling by UXA and cash flow negative leaving investors questioning when it will recover. Yes I will look to get back in but I think it will be in the mid to high 4s within a week. Would be happy for long term investors if this is not the case but I think I will stay side lined for now.
All the best