{"id":11288,"date":"2012-06-09T11:06:48","date_gmt":"2012-06-09T09:06:48","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/update-1-investor-offers-to-buy-26-pct-stake-in-first-uranium\/"},"modified":"2012-06-09T11:06:48","modified_gmt":"2012-06-09T09:06:48","slug":"update-1-investor-offers-to-buy-26-pct-stake-in-first-uranium","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-investor-offers-to-buy-26-pct-stake-in-first-uranium\/","title":{"rendered":"UPDATE 1-Investor offers to buy 26 pct stake in First Uranium"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">June 8<\/span> (Reuters) &#8211; Canadian miner First Uranium Corp<br \/>\n said Kumvest Pvt Ltd will offer to buy a 26 percent<br \/>\nstake in the company at 37 Canadian cents per share, a premium<br \/>\nof almost 95 percent to the stock&#8217;s Friday close, if some<br \/>\nconditions are met.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>Sandton, Johannesburg-based Kumvest, a holding company with<br \/>\na diversified portfolio of public and private companies, is<br \/>\nowned by financier Mandla &#8220;Bear&#8221; Kumalo, according to the<br \/>\ncompany&#8217;s website.<\/p>\n<p><span><\/span><\/p>\n<p>Kumvest&#8217;s conditions include an opposition by First Uranium<br \/>\nshareholders to the sale of the company&#8217;s Ezulwini mine to Gold<br \/>\nOne International Ltd, and the appointment of a new management<br \/>\nteam.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Based upon limited due diligence of Kumvest the board of<br \/>\ndirectors of FIU has determined that Kumvest styles itself as a<br \/>\nholding company but can find no specific information about its<br \/>\ninterests,&#8221; First Uranium said.<\/p>\n<p><span><\/span><\/p>\n<p>In April, the company said Waterpan Mining Corp and<br \/>\nTransalloys Ltd offered to pay $80 million for its gold-uranium<br \/>\nmine in South Africa.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium shares closed at 19 Canadian cents on the<br \/>\nToronto Stock Exchange on Friday.<\/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>June 8 (Reuters) &#8211; Canadian miner First Uranium Corp said Kumvest Pvt Ltd will offer to buy a 26 percent stake in the company at 37 Canadian cents per share, a premium of almost 95 percent to the stock&#8217;s Friday close, if some conditions are met. Sandton, Johannesburg-based Kumvest, a holding company with a diversified [&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-11288","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\/11288","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=11288"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11288\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11288"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11288"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11288"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}