First Uranium Corporation T.FIU

IR is very responsive

[BeeDope]

The $7 dollars share placement was hurting someone real bad. We could be here a while longer if this opportunity suits them. As for the company and it's prospects; excellent from here on out. Bob Tait's answer proves by extension that Miller had pushed fear into the market. 50 Million with this scale of project should not have illicited his dark warnings about the project, driving the shares to a $1.07. Irresponsible!

My question is what is the right number of dollars needed to complete the projects both MWS and Ezulwini.

Bob Tait's answer
Themoney being raised is primarily for MWS as the majority of the capital projectat Ezulwini has now been completed.
Management estimatesthat, based on the current revised and restructured mine plans as discussedunder the Operations Review and Outlook sections of this MD&A, theadditional cash required would be approximately $50 million.

[Attorney30]

Excerpt from February 16, 2010 article in World Nuclear News:Assuming that it will take up to a year to resolve the permitting issue and that development projects at MWS will not restart in the meantime, First Uranium estimates that, based on its current revised and restructured mine plans, it will need to find an extra $50 million in cash. If the permitting issue were to be resolved and MWS

[DirtyLoser]

Yes, I think the $50 million was needed if the project was basically on care and maintenance. Now with the EA, $100 million at minimum is needed for completion. I would say they are looking to raise at least $150 million just in case they do not meet gold wheaton's deadline and if they keep operating at losses. So whomever mentioned that a $200 million credit facility may be an option

[BeeDope]

The caveat which impinged on the cash flow was time wasted waiting for the tailing ponds site approval. Time that MWS was not in production at capacity never actually happened. If you remember they were going to, at the end of March close the gold processing plant #2. An announcement that the construction phase for the ponds has begun would relieve most. They are not broke. The 50 million tops up

[narmac]

Attorney,,,,,,,, "What about the potential 42 million dollar penalty to Gold Wheaton"I have been in the construction management business for over 30 years and as far as penalties are concerned it is a rarity to have them triggered as the mealy mouth small print and the force majeure issues contribute to extensions and all,,,,,,,plus the creditor knows when he can't get blood out of a