1120 access of undefined property coverimg1 - UILoader

Hello, I read through all questions I could find regarding this issue, but none could help my with specific situation.

UILoader is on frame one, instance name double and triple checked (even changed the object name, worth a try), targeting should be fine too.

I'm sorta lost here, what am I missing?

package
{
	import flash.display.MovieClip;
	import se.svt.caspar.ICommunicationManager;
	import se.svt.caspar.IRegisteredDataSharer;
	import se.svt.caspar.template.CasparTemplate;
      
	public class CoverIMGLoader extends CasparTemplate
	{
		private const customParameterDescription:XML = 	
		<parameters>
	   		<parameter id="coverIMG" type="string" info="File URL for cover image" />
		</parameters>;
		
		override public function SetData(xmlData:XML):void 
		{			
		   for each (var element:XML in xmlData.children())
		   {
			  if (element.@id == "coverIMG") 		
			  {
				  coverimg1.source = element.data.@value.toString();
			  }
		   }
		   super.SetData(xmlData);		
		}
	}
}