| Gold Wheaton Gold Corp. (TSX:GLW) ("GWC") announces that it has entered into an agreement to participate in a financing to be completed by First Uranium Corporation ("FIU"). The financing will consist of a private placement offering (the "Offering") of a minimum of C$125 million and maximum of C$150 million in senior secured convertible notes (the "Notes") due March 31, 2013. GWC has agreed to... |  |
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First Uranium Corp. has had a rough couple of months, as permit problems at its South African mine have ground construction on a new tailings facility to a halt and seriously compromised its financing. However, a recent site visit by Bart Jaworski with Raymond James had the analyst wondering if the problems are all First Uranium’s own doing. |
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| The problems facing First Uranium Corp. have been well documented. Unfortunately, they are not contained to just that company. Gold Wheaton Gold Corp. owns two gold streams from First Uranium's mines, so it is also vulnerable to First Uranium's reduced production and liquidity issues. |  |
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Senior Portfolio Manager Charles Oliver of Sprott Asset Management gives his analyst opinion of Nevsun Resources, First Uranium, Exeter Resources, and Colossus Minerals on October 16, 2009. |
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Adding $107 million to its coffers will allow First Uranium (FIU-T, FUM-J) to speed up construction of the pressure leach portion of its Mine Waste Solutions tailings recovery project in South Africa. The company may also be on the look out for new projects to add to its portfolio. |
March 2010
February 2010