URANIUM Exploration Australia has bought mining services group Geoscience Associates for $5.3 million as well as 5 million UXA shares.
The company says the acquisition will provide it with a cashflow which will help fund its ongoing uranium exploration programs in the Northern Territory and South Australia. While, UXA says it will enhance their growth outlook.
Russell Penney managing director of UXA said that given “Geoscience’s unique services are becoming increasingly popular within the domestic uranium, coal seam gas and coal exploration sectors, UXA anticipates high growth in revenues”.
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