Proactiveinvestors Australia

UXA Resources is well known for its 'first mover advantage' in the Stuart Shelf, with the company strategy now being validated following the discovery of one of the best IOCG exploration holes in the area in recent years.

Want to ask CEO's probing questions? Proactive Investors provides the forum. Next up in Melbourne is UXA Resources, Tangiers Petroleum, KBL Mining, Globe Metals & Mining and Altona Mining.

UXA Resources has established partnerships with some of the largest mining companies in the world, while also having a three pronged project exploration strategy. This focus by UXA has now attracted a New York investor managed by The Lind Partners LLC.

For those who were unable to attend the UXA Resources presentation at the 'Stars in 2012 Series' series in Sydney last night, Proactive Investors brings you the Question and Answers between Dr. Russell Penney and the audience.

With 3,300 square kilometres of tenements in the world class copper gold area that hosts BHP's Olympic Dam and OZ Minerals' Prominent Hill projects, UXA is strategically positioned and ready to ramp up exploration in the area.

With the appointment of an Engineering, Procurement and Construction contractor and the high possibility that a Supplemental Environmental Impact Statement will be issued in November, Peninsula Energy’s Ross Project of the Lance Uranium Projects remains on track for full permitting later this year.

Peak Resources is on track to become the next major rare earth supplier from the Ngualla project in Tanzania. The company has produced two refined rare earth products at ANSTO Minerals - which importantly are in saleable form and available for evaluation by target customers.

The completed Scoping Study for the Mansa manganese project has demonstrated positive project economics as the project moves closer to production in a matter of weeks. Budgeted costs of delivering a CIF product are between $190 and $210 per tonne, in line with its expectations.

The start of the second phase drilling at Mt Forrest iron project puts Mindax on the path to potentially expand both the iron base as well as life of the mine. Importantly, it also has promise for the proposed partnership with Hong Kong-based Perpetual Mining, that could see the company invest $52 million.

The $5.1 million received is part of a planned $10 million investment by Owen Hegarty's EMR Capital in Highfield Resources to develop its advanced potash projects in Spain.