buylowsellhi, UXA have virtually trebled the amount of shares in issue at 10c a share, and counting in some costs, relates to about 9.7c per share to the company.
The GAA purchase was finally settled late on Thursday evening. Costing $5.3m in cash and 5 million shares to the owner.
If the 19c price for the stock was correct before the bid then that equates to a valuation of 12.8c a share.
Only reason for the decline in stock price would be; bearish tone in the speculative mining sector; value put on GAA; and unloading of stock by stags who got the movement in stock price wrong.
Worth holding on to but price may move lower yet.
UXA Price at posting:
9.5¢ Sentiment: ST Sell Disclosure: Held
