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First Uranium Corporation [JSE:FUM] said on Friday it would sell two assets in South Africa for $405m as the gold and uranium miner scrambles to liquidate itself to pay off its debts.
The company will sell Mine Waste Solutions, a tailings recovery project, to AngloGold Ashanti for $335m in cash.
First Uranium also said it would sell its stake in First Uranium which owns the Ezulwini Mining Co, to Australian miner Gold One International Ltd for $70m.
Gold One will also provide a $10m loan facility to First Uranium.
The company said it is moving ahead with plans to liquidate the company and will use the proceeds to pay its securityholders and shareholders.
Shares of the Toronto-based company were up 3% at 17 Canadian cents on Friday on the Toronto Stock Exchange.
The company will sell Mine Waste Solutions, a tailings recovery project, to AngloGold Ashanti for $335m in cash.
First Uranium also said it would sell its stake in First Uranium which owns the Ezulwini Mining Co, to Australian miner Gold One International Ltd for $70m.
Gold One will also provide a $10m loan facility to First Uranium.
The company said it is moving ahead with plans to liquidate the company and will use the proceeds to pay its securityholders and shareholders.
Shares of the Toronto-based company were up 3% at 17 Canadian cents on Friday on the Toronto Stock Exchange.
