Bloomberg reported First Uranium Corp. (TSX:FUM) rose to a new three-month high when Mandla Kumalo offered to buy a stake.

As quoted in the market news:

The stock increased 2.2 percent to 1.42 rand by the 5 p.m. close in Johannesburg, the strongest level on a closing basis since Feb. 24. Kumvest (Pty) Ltd., Kumalo’s wholly-owned investment company, offered to buy a 26 percent stake at 37 Canadian cents per share, almost double First Uranium’s closing share price in Toronto on June 8.

Click here to read the full Bloomberg report.