Investors Agree To Sale First Uranium Assets

Globe and Mail reported dissident investors are now on board to sale First Uranium’s (TSX:FIU) assets just five years after going public.

As quoted in the market news:

The investors’ about-face came just before a June 13 special vote on the asset sales, which would give the struggling Toronto miner $405-million to pay down looming debt that includes $150-million in convertible debentures due at the end of the month.

First Uranium lists on its website only two assets, both in South Africa, and has struck deals to sell both of them. In March, it agreed to sell its Mine Waste Solutions tailings-recovery project to South Africa’s AngloGold Ashanti for $335-million. In April, it reached a deal to sell its Ezulwini mine to Australia’s Gold One International for $70-million.

Click here to read the full Globe and Mail report.