{"id":8014,"date":"2012-02-16T02:06:02","date_gmt":"2012-02-16T00:06:02","guid":{"rendered":"http:\/\/www.myza.co.za\/02\/first-uranium-eyes-asset-sale-to-pay-off-debt\/"},"modified":"2012-02-16T02:06:02","modified_gmt":"2012-02-16T00:06:02","slug":"first-uranium-eyes-asset-sale-to-pay-off-debt","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/first-uranium-eyes-asset-sale-to-pay-off-debt\/","title":{"rendered":"First Uranium eyes asset sale to pay off debt"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* In talks to sell &#8220;principal assets&#8221;<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Sale proceeds to go to pay debt due this year<\/p>\n<p><span><\/span><\/p>\n<p>* Miner slashes 2012 gold, uranium output forecasts<\/p>\n<p><span><\/span><\/p>\n<p>TORONTO, Feb 15 (Reuters) &#8211; First Uranium is<br \/>\nin talks to sell key assets to pay down debt due later this<br \/>\nyear, the gold and uranium miner said.<\/p>\n<p><span><\/span><\/p>\n<p>The Toronto-based company said late on Tuesday that the sale<br \/>\nof its &#8220;principal assets&#8221; should generate enough cash to meet<br \/>\nits financial obligations, including C$150 million ($150<br \/>\nmillion) in convertible debt due in June.<\/p>\n<p><span><\/span><\/p>\n<p>First Uranium owns the Ezulwini uranium mine and the Mine<br \/>\nWaste Solutions tailings processing facility, both in South<br \/>\nAfrica.<\/p>\n<p><span><\/span><\/p>\n<p>The company&#8217;s shares were flat at 19 Canadian cents on the<br \/>\nToronto Stock Exchange after the market open on Wednesday. First<br \/>\nUranium also reported lower-than-expected third quarter earnings<br \/>\nand slashed its production outlook for its fiscal 2012.<\/p>\n<p><span><\/span><\/p>\n<p>At Mine Waste Solutions, the company now plans to produce<br \/>\n98,000 to 100,000 ounces of gold from a previous forecast of<br \/>\n105,000 to 115,000 ounces.<\/p>\n<p><span><\/span><\/p>\n<p>At Ezulwini, First Uranium said it would not achieve<br \/>\ntargeted gold sales of 70,000 to 80,000 ounces, and it slashed<br \/>\nits uranium sales forecast to 82,000 pounds from a previous<br \/>\n110,000 to 130,000 pounds.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* In talks to sell &#8220;principal assets&#8221; * Sale proceeds to go to pay debt due this year * Miner slashes 2012 gold, uranium output forecasts TORONTO, Feb 15 (Reuters) &#8211; First Uranium is in talks to sell key assets to pay down debt due later this year, the gold and uranium miner said. The [&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-8014","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\/8014","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=8014"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8014\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}