HomeGoldGold One and First Uranium sign binding sales agreement

Gold One and First Uranium sign binding sales agreement

First Uranium’s
Ezulwini gold and
uranium mine “’ sale
to Gold One finalised
Johannesburg, South Africa — 03 April 2012 – Gold One International and First Uranium Corporation have signed a binding sales agreement on the transfer of Ezulwini gold and uranium mine.

Miningmx reports that the companies have announced the conclusion of the transaction, in terms of which Gold One is acquiring the Ezulwini mine from First Uranium for US$70 million, following the conclusion of a letter agreement on 2 March.

Among the conditions, Gold One requires that the security related to various credit deals against Ezulwini be lifted. For its part, Gold One is required to extend a US$10 million loan facility to First Uranium until the deal has been completed.

The transaction is expected to be finalised by the end of June, pending approval from the Competition Commission.

Source: Miningmx. For more information click here.