poor FIU....however when they make this sale vekselberg i see it jumping. Anyone even considering buying?
FIU - First Uranium Corp - Page 4
the question is why? what is the payout you get for investing in a 100% loser (aka chance of winning is 1%)
..a 10-20-30% MAXX rise...
not worth a dime...
at the end its jerks upward will continue to move down.its going to go bankrupt 100%
that being said you have the ENTIREEEEE uranium sector trading at 1/2 price
in particular..the BEST 2 being, UUU (my fav) and cameco (cameco doesnt have much reason to run upanymore as earnings is done)
you have UUU a 'penny stock'..trading near book value and is one of the few companies making profit that isnt BHP or cameco (the rest of the sector is -)
uuu is the only that has close ties to russian, aust, khaz and canadian uranium fields (canada is going to go through more nuclear expansions soon)..
UUU is also backed by russian gov-ARMZ
all these reasons means UUU will get 10-20% moves easy!
* UUU is planning on buying mantra (the worst problem it has now)
(Reuters) - Canadian miner First Uranium Corp (Toronto:FIU.TO- News) said Kumvest Pvt Ltd will offer to buy a 26 percent stake in the company at 37 Canadian cents per share, a premium of almost 95 percent to the stock's Friday close, if some conditions are met.
Sandton, Johannesburg-based Kumvest, a holding company with a diversified portfolio of public and private companies, is owned by financier Mandla "Bear" Kumalo, according to the company's website.
Kumvest's conditions include an opposition by First Uranium shareholders to the sale of the company's Ezulwini mine to Gold One International Ltd, and the appointment of a new management team.
"Based upon limited due diligence of Kumvest the board of directors of FIU has determined that Kumvest styles itself as a holding company but can find no specific information about its interests," First Uranium said.
In April, the company said Waterpan Mining Corp and Transalloys Ltd offered to pay $80 million for its gold-uranium mine in South Africa.
First Uranium shares closed at 19 Canadian cents on the Toronto Stock Exchange on Friday.
(Reporting by Maneesha Tiwari in Bangalore; Editing by Joyjeet Das)