RE: RE: First Uranium subsidiary advises of purporFri Sep 16 11:27:35 EDT 2011
Dear Valued Investor,
Your lower limit Alert (Price falls to
.31) for FIU has been triggered.
FIU traded down to
.31 on volume of 372,212 shares.
Current price:
.31
Change: -0.04
% Change: -11.43
Volume: 372,212
Open:
.36
Previous close:
.35
Today's high:
.37
Today's low:
.31
My buying price alert for FIU was just hit. I had pulled all my buy orders before it hit the target price. I am not buying because of SA at this time but lowing my buying point. Have to reassess the SA risk. What is happening to this company in SA is very wrong. This is not about management but the govt & the level of corruption. It stinks really bad. It has to be about money. It could also be an attempt to get hold of the assets / takeover. There are some powerful people behind this or this could be normal in SA. Or FIU does not have powerful people to protect it. How do you assess these kind of risks ?
The good thing is that the have not stopped production. They will get unions involved when the workers lose jobs.
MWS is very valuable asset with huge margins of about $1300 /oz. With all the capex & everything in place this operation is spitting out huge profits & things will get better for this part of the operation becasue of the recent expansion. It is the other mine which is an issue at this point.
I would continue to monitor this company. Hope they can deal with these so called regulatory issues. This stock will continue to trade at a discount because of its operation in SA.