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First Uranium Corporation T.FIU



TSX:FIU - Post by User

Post by dudediligenton Jun 10, 2011 12:21pm
208 Views
Post# 18699544

Globe Article

Globe ArticleThe Globe and Mail reports in its Friday edition that First Uranium (56 Canadian cents) on Wednesday posted weaker-than-expected fiscal fourth quarter results. The Globe's Darcy Keith writes in the Eye On Equities column that Raymond James analyst Bart Jaworski says even though the stock is near an all-time low, "investors should use caution ... given continued uncertainty over liquidity and permitting." First Uranium lost nine U.S. cents a share in the quarter, four U.S. cents worse than Street estimates, with similarly disappointing cash flow figures. It also dropped its fiscal 2012 gold and uranium production guidance. First Uranium is developing gold and uranium extraction operations at the underground Ezulwini mine and its Mine Waste Solutions tailings recovery facility, both in South Africa. It has a $150-million (Canadian) convertible debenture expiring in June of next year and another $175-million (Canadian) of debentures due in 2013. Mr. Jaworski reiterated his "market perform" rating, which The Globe says is equivalent to a "hold." Mr. Jaworski cut his six-month to 12-month price target by 30 Canadian cents to 70 Canadian cents to reflect lowered guidance and higher future financing needs
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