URANIUM Exploration Australia (UXA) has announced that it is currently undergoing a capital raising to spur ongoing exploration and is also set to acquire mining services company, Geoscience Associates (GAA).
The company says the raised funds will be particularly focused on aggressively evaluating its newly discovered uranium discovery at Ngalia Thrust in the Northern Territory.
In terms of the acquisition, Managing Director of UXA, Russell Penney says the purchase of the business and assets of GAA represents a significant step forward for UXA and its development.
Penney claims the acquisition will provide the company with ongoing cashflow to support its uranium exploration activities.
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