long termshareholders this is good news. I am not one of them but if financing was not approved just think what the share price would be.
Think about the share price of GLW if financing was not approved. GLW has three gold contracts 2 of which are with first uranium.
Someone wanted to know why fiu had cash crunch well i was booted off site for a while could not answer.
But for one this years income will be 190 million bucks plus or minus GW contract.
But uranium sales cash will not come in until 2011 as it takes 3 months to be payed. my words
AS i said before FIU assets in the ground are worth 8.5 - 10.5 billion,some of the assets are only appriased at 32% of reserves at the EZUL mine.
these fiqures are gold at 850 oz 8.5 billion 32 % of estimated ezul mine.
gold at 1100 oz 10.5 biilion
if gold goes to 2,000 an oz well do the math
Uranium was at 57 lb which is the converastion price
now if U goes to 85-90 lb then things get better.