First Uranium, $1.26, symbol FIU on Toronto (Shares outstanding: 166.8 million: Market cap: $210.2 million), produces uranium in South Africa.
In the three months ended December 31, 2009, higher uranium prices pushed up First Uranium’s revenue by 94.3%, to $32 million from $16.5 million. Cash flow was negative $0.05 a share, compared to negative $0.08 a year earlier.
First Uranium has been forced to significantly lower the estimated value of its South African operations in light of cost overruns and permitting issues. The company has cut the value of its Ezulwini mine and its Mine Waste Solutions tailings-recovery operation by half.
First Uranium has agreed to raise $150 million by issuing senior convertible notes. It hopes these funds will help it out of its financial difficulties. However, converting all of the notes from the offering, plus other debt payments and penalties, would result in the issuing of nearly 146.8 million shares — about 88% of the current 166.8 million shares outstanding.
First Uranium’s…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
This privacy policy is applicable to all TSI Network Visitors, Clients, Employees, Suppliers, Web sites, Management, and all other interested parties. Any links to or from our site are not covered by this policy. We encourage you to read the privacy policies of every site that you visit.
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We do not collect or disclose personal information, except when it is provided to us voluntarily by the site/store visitor with their consent.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
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Does TSI Network Use the Information It Receives?
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
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