Johannesburg, South Africa — 30 July 2012 – Toronto and JSE-listed First Uranium has announced that the closing date of the proposed sale of its Ezulwini mining operations to Gold One International for US$70 million is today‚ and that the transaction is expected to go through on this Wednesday 1 August 2012.
“All of the documents required to conclude the Gold One transaction were delivered today to Edward Nathan Sonnenbergs as closing document stakeholder‚ and the purchase price was delivered to Computershare Trust Company of Canada as purchase price stakeholder‚” First Uranium said in a statement issued here.
Fin24 reports that this transaction forms part of First Uranium’s US$405 million plan to repay its debt. It has also sold its gold and uranium tailings treatment business‚ Mine Waste Solutions‚ to AngloGold Ashanti for US$335 million.
The transactions with AngloGold Ashanti and Gold One mark the end of the embattled and debt-laden miner‚ which reached a point where it could no longer continue without either greatly diluting existing shareholders or going into bankruptcy.
Source: Fin24. For more information, click here.