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First Uranium Corporation T.FIU



TSX:FIU - Post by User

Post by idunnobuton Aug 16, 2011 10:25pm
201 Views
Post# 18949958

no news is good news

no news is good newsThere is no reason to assume bad news. It's unlikely that FIU would have any difficulty producing the quarterly financial and production information, and it's likely that they are waiting to hear from Franco Nevada on the MWS testing. If FIU released results and said nothing about the MWS testing, it would look bad. If FIU released results and made assumptions that FN would approve the testing. FN could then make some kind of statement about the test results, and FIU would look bad.

I want FIU to wait until they either have a specific date for announcing the results of the MWS tests, or combine the announcement of the test results with their quarterly results.

I believe FN would take any opportunity to make FIU management look like idiots. As a FIU shareholder, FN is not my favorite organization in the world for what they've done. I choose to blame this delay on FN until I hear otherwise.

My guess is that FIU has submitted results to FN, but FN is refusing to approve the results or indicate otherwise until they have to. We may be waiting until September when FN has to claim penalties or issue their approval.

BTW: did anybody else pick up on the facts from FN results that FIU produced almost 30,000 oz of Au from MWS in the quarter, and also pre-paid more then the minimum required Ezulwini gold to FN? If FN can make $8.1M from 25% of MWS, how much does FIU make? If FIU can pay $7.9M to FN from Ezulwini, how much more of the 20,000 oz owed for 2011 do they have left to pay?
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