First Uranium Plans to Sell Ezulwini Mine

First Uranium Corporation (TSX:FIU,JSE:FUM) announced it will seek shareholder agreement to sell the Ezulwini Mine to Gold One International Limited (ASX:GDO).

As quoted in the press release:

A special meeting of the shareholders of the Corporation will be held on June 13, 2012 to consider the Gold One Agreement and the agreement (“AngloGold Agreement”) to sell Mine Waste Solutions to AngloGold Ashanti Limited (“AngloGold”).

The Corporation had received an unsolicited non-binding expression of interest from Waterpan Mining Corporation (“WMC”) and Transalloys (Pty) Ltd. (“Transalloys”), to acquire the Ezulwini Mine, subject to a number of conditions precedent, including the opportunity to have 90 days from May 1, 2012 to undertake a due diligence review of the business. Following that due diligence exercise, WMC and Transalloys envisaged being in a position to make a definitive offer by August 1, 2012.

Click here to read the First Uranium Corporation (TSX:FIU) press release.