Data provided by iNet BFA
Loading...
See More

First Uranium completes Ezulwini sale

Jul 30 2012 10:10 I-Net Bridge

Related Articles

First Uranium receives Ezulweni buyout bid

First Uranium to sell two SA assets

First Uranium cuts 2012 forecast

Num wants First Uranium CEO to be fired

First Uranium reports sales rise

First Uranium seeks to block counter-bid

 

Johannesburg - Toronto and Johannesburg-listed First Uranium [JSE:FUM] announced that the closing date of the proposed sale of its Ezulwini Mining operations to Gold One International [JSE:GDO] for $70m occurred today‚ and said the transaction was expected to go through on August 1 2012.

“Today‚ all of the documents required to conclude the Gold One transaction were delivered to Edward Nathan Sonnenbergs as closing document stakeholder‚ and the purchase price was delivered to Computershare Trust Company of Canada as purchase price stakeholder‚” First Uranium said.

This transaction forms part of First Uranium’s $405m plan to repay its debt.

It also sold its gold and uranium tailings treatment business‚ Mine Waste Solutions‚ to AngloGold Ashanti [JSE:ANG] for $335m.

The transactions with AngloGold Ashanti and Gold One mark the end of the embattled and debt-laden miner‚ which reached a point where it could no longer continue without either greatly diluting existing shareholders or going into bankruptcy.

 
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

A cash flow crunch often occurs in small businesses trying to balance cash coming in with cash going out. Watch this video to help you improve.
 
 

OneRandMan learns how money really works

National Savings Month is not only this month, it is every month from your very first salary slip, an expert warns OneRandMan and all South Africans.

 
 

Start saving...

Time the key for retirement saving
Dummy's guide to saving
Save money with affordable account
All about endowments

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...