First Uranium company teeters on the brink of collapse

What will happen to First Uranium? First Uranium is looking at a distress sale of assets to settle upcoming debts, a move that would have a number of implications for shareholders Christy Filen , 22 Feb 2012 JOHANNESBURG (MINEWEB) -
It is no secret that First Uranium is in a pickle. Releasing a forecast that shows its cash will run out by the end of March will be cold comfort to shareholders and creditors alike…. First Uranium has turned to what is conceivably its only option and that is a distress sale of its assets in an effort to settle upcoming debts….. As if this wasn’t enough First Uranium’s Ezulwini operation is not making the gradeand its Mine Waste Solutions (MWS) is fighting licensing issues with environmentalists and the Department of Mineral Resources. In terms of the results of an impairment exercise of the Ezulwini Mine’s assets, an impairment adjustment of $180m was recognised in the company’s financial statements…. ”The Company’s ability to continue as a going concern is dependent upon its ability to bring these proposed transactions to fruition” said First Uranium….. http://www.mineweb.com/mineweb/view/mineweb/en/page34?oid=145826&sn=Detail&pid=102055
No comments yet.
Leave a Reply
-
Archives
- May 2012 (262)
- April 2012 (259)
- March 2012 (342)
- February 2012 (304)
- January 2012 (259)
- December 2011 (274)
- November 2011 (331)
- October 2011 (247)
- September 2011 (272)
- August 2011 (249)
- July 2011 (227)
- June 2011 (195)
-
Categories
- 1
- 1 NUCLEAR ISSUES
- business and costs
- climate change
- ENERGY
- environment
- health
- history
- indigenous issues
- Legal
- marketing of nuclear
- media
- opposition to nuclear
- people
- politics
- politics international
- Religion and ethics
- safety and incidents
- secrets,lies and civil liberties
- spinbuster
- technology
- Uranium
- wastes
- weapons and war
- 2 WORLD
- ACTION
- AFRICA
- AUSTRALIA
- Christina background info
- Christina's notes
- Christina's themes
- general
- Reference
- resources – print
- Resources -audiovicual
-
RSS
Entries RSS
Comments RSS












