Here is the opening of the News Release, Everyone concentrated on the numbers put forth by the liars at First Uranium. But look at their catch all excuse to not pay us anything it's in the very frist part of the NEWS RELEASE.. Overlooked by the majority I'm sure due to the excitement of First Uranium's creative accounting show...
In that announcement and in a follow up news release dated April 19, 2012, the
Company provided an expected Pro Forma Use of Proceeds from the completion of
the Transactions and an update, as at April 19, 2012, with respect thereto.
Subsequently, the Company has continued to expend funds for sustaining capital
required for its operations and has experienced operating losses at the Ezulwini
operations and cash flow at the MWS operations has been negatively impacted by
underperformance due to clay handling issues. ( That's a new one, Clay handling issues)
Consequently, the Company has drawn down the US$10 million loan facility provided by Gold One under the terms of that agreement and this amount plus interest is repayable in full upon the
earlier of the termination of the Gold One Agreement and the closing of the
transaction with Gold
HOW convenient, they now create problems with MWS saying it has clay issues and the operation is losing money... when all along it was doing just fine..... This is turning into a circus people, and as Quoted by Barnum adn Bailey Circus guys....
Barnum said "There's a sucker born every minute"
We made one mistake in believing these liars once dont; do it again!