WMC Plans For First Uranium Stake

Mining Weekly reported Waterpan Mining Company an other investors are planning to bid for a controlling stake in First Uranium (TSX:FIU).

As quoted in the market news:

Cash-strapped First Uranium had last month snubbed a potential $80-million offer from a consortium comprising Russia’s Renova group and WMC for the Toronto- and Johannesburg-based company’s Ezulwini gold and uranium mine, located west of the city.

Van der Bijl declined to say whether Renova was involved with the new plan, citing the sensitivity of the matter.

Click here to read the full Mining Weekly report.