RE: great article on the deal with AngloThe only thing that worries me is, as the article says:
"Should AngloGold decide to grow its stake, it may at the same time solve a headache of First Uranium by opting to buy-out or restructure the company’s two series of convertible notes,
totalling C$172m and C$150m respectively.
Said RBC Capital Markets in a report dated 15 July: “Based on our forecasts, First Uranium will be
unable to repay the notes and they will most likely remain well out of the money.”
It takes up fiu a total of
39 millions in the interest and related outlays because of the existing of these 2 notees arrangements in last year's financial statement !!!
However, if this issue is solved, then with GW completion test passed, increased production in line and gold price surging, fiu is a very profitable operation, which will equate to a 10 to 15 bagger from its bottoms of 0.38