{"id":10244,"date":"2012-04-25T04:30:04","date_gmt":"2012-04-25T02:30:04","guid":{"rendered":"http:\/\/www.myza.co.za\/04\/update-2-first-uranium-gets-unsolicited-offer-for-safrica-mine\/"},"modified":"2012-04-25T04:30:04","modified_gmt":"2012-04-25T02:30:04","slug":"update-2-first-uranium-gets-unsolicited-offer-for-safrica-mine","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-first-uranium-gets-unsolicited-offer-for-safrica-mine\/","title":{"rendered":"UPDATE 2-First Uranium gets unsolicited offer for SAfrica mine"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Shareholders&#8217; meeting on June 13 to decide on sale of mine<\/p>\n<p><span><\/span><\/p>\n<p>* First Uranium shares fall 8 pct<\/p>\n<p><span><\/span><\/p>\n<p>April 24 (Reuters) &#8211; Canadian miner First Uranium Corp<br \/>\n said it received another offer for its Ezulwini mine in<br \/>\nSouth Africa as the company looks to liquidate itself to pay off<br \/>\nits debts.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium, which has a market value of about $29<br \/>\nmillion, said on Tuesday Waterpan Mining Corp and Transalloys<br \/>\nLtd offered to pay $80 million for the gold-uranium mine. The<br \/>\noffer includes $10 million to be paid in advance as short-term<br \/>\nbridge financing.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium, whose financial obligations include C$150<br \/>\nmillion ($151.8 million) in convertible debt due in June, last<br \/>\nmonth also put Mine Waste Solutions, its tailings recovery<br \/>\nproject in South Africa, up for sale.<\/p>\n<p><span><\/span><\/p>\n<p>The gold and uranium miner had agreed to sell the Ezulwini<br \/>\nmine to Australian miner Gold One International Ltd for<br \/>\n$70 million. Gold One will also provide a $10 million loan<br \/>\nfacility.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium sold 8,061 ounces of gold in the fourth<br \/>\nquarter from the Ezulwini mine.<\/p>\n<p><span><\/span><\/p>\n<p>A special meeting of First Uranium&#8217;s shareholders will be<br \/>\nheld on June 13 to decide on the sale of the Ezulwini mine and<br \/>\nMine Waste Solutions, the company said in a statement.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium remains committed to Ezulwini&#8217;s sale to Gold<br \/>\nOne but it will let its shareholders decide whether to go ahead<br \/>\nwith the sale agreement, the statement added.<\/p>\n<p><span><\/span><\/p>\n<p>The company&#8217;s shares, which have lost 59 percent of their<br \/>\nvalue in the last three months, were down 8 percent at 11<br \/>\nCanadian cents in afternoon trading on the Toronto Stock<br \/>\nExchange.<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Shareholders&#8217; meeting on June 13 to decide on sale of mine * First Uranium shares fall 8 pct April 24 (Reuters) &#8211; Canadian miner First Uranium Corp said it received another offer for its Ezulwini mine in South Africa as the company looks to liquidate itself to pay off its debts. First Uranium, which [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-10244","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=10244"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/10244\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=10244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=10244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=10244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}