First Uranium to sell two South African assets for $405 mln, Mar 2, 2012 (Reuters) – First Uranium Corp said it would sell two assets in South Africa for $405 million, as the gold and uranium miner scrambles to liquidate itself to pay off its debts.
The company will sell Mine Waste Solutions, a tailings recovery project, to South Africa-based AngloGold Ashanti Ltd for $335 million in cash.
First Uranium also said it would sell its stake in First Uranium Ltd, which owns the Ezulwini Mining Co, to Australian miner Gold One International Ltd for $70 million. Gold One will also provide a $10 million loan facility to First Uranium.
The company said it is moving ahead with plans to liquidate the company and will use the proceeds to pay its securityholders and shareholders…. http://af.reuters.com/article/investingNews/idAFJOE8210CP20120302?feedType=RSS&feedName=investingNews