First Uranium Corporation T.FIU

Crunching numbers and review of Q3 financials

[lefmike1]

Okay, I had a bit of time on my hands last night and this morning and want to share with you what I have found and determined going froward into Q1/2012  and  total for 2012.

Not sure if this is all that important at this time but this was skipped over by me in reagrds to Uranium production at MWS.

Concurrent with the introduction of the third gold module, the new life of mine tailings facility will be commissioned. The commissioning of the uranium plant is planned for September 2011, however is subject to the successful completion of the Gold Wheaton Completion Test.

This would mean that if they can finalize the MWS/GW  approvals early as now anticipated, they can begin the commissioning of the Uranium plants at MWS also.

Now here are some numbers I was able to crunch,  based on the present situation the present selling price of gold and the ANTICIPATED gold recovery at both MWS and Ezeee.

MWS  they produced roughly  for 2011 fiscal  82,000  ounces of gold from 1,200,000 tons of product milled.  With the new 3rd module on stream they they will mill a minumum   1,800,000 tons of product and recover roughly 125,000  ounces of gold.  125,000 less 25% to GW  (31,250)  Total Gold for FIU from MWS   93,750 Ounces 

125,000  @ (561.00 is the Cash cost and Amortization) is         70,125,000 as a gold recovery cost
 
93,750 @  1500  ( using this number is risky but  whatever)     140,625,000
31,250 @ 400.00  ( GW pays to FIU fop rit's gold)                       12,500,000         
Gross gold cash to FIU                                                                   153,125,000


MWS GROSS profit  ( not including corporate expenses )           83,000,000 

Looks okay so far  but getting the right numbers for the Corporate operating expenses is pretty tough because of Ezee's situation.

Now for Ezeee
 VERY  VERY Rough numbers...

85,600 ounces less the GW 7% 5,600 take  comes to 80,000

80,000  ( the bare minimum they should recover based on last year without the improvement to the hoisting capability  nor improvements to the operation as coulld be expected.


80,000 @ 1500.00                                                                               120,000,000 
  5,600 @   400.00  ( what GW pays for it's portion)                             2,400,000
                                                                                                                 124,000,000
Gross Cash cost as per 2011 fiscal ( please be less)
85,600 ounces @ 1329  * + 50% ( as per the LOM 2012 est.)      113,762, 400        

Ezeee gross profit ( not including corporate expenses )                    10,238,000



Total GROSS profit both operations for fiscal 2012  estimate  is     93,238,000

Not going to calculate operation expenses for office and ammort as this changes like their underwear but I would say that we should expect  that MWS and EZEEE should be totally in the black starting this quarter.  By how much is the question.

In addition  I did not make any calculations for the Uranium production at either mines as this may for this year just be a break even exercise.

[stude]

It was beautiful number Lef but somehow s/p doesn't response to reality of GOLD is going up up up  . Something MUST be wrong , like I said" we are or market ??????????" . We are still in HOPE .

[lefmike1]

Nothing is fundamentaly wrong from what I can see my friend, It seems like money right now is NOT into the gold producers, but the gold itself and the reason for that I think, is many MANY producers got way ahead of themselves in their SP and with FIU's history they are being cautious.  .I see many other producers in the exact same boat as FIU these days,  CRK for one, SGR and

[Hmmmmmmm]

GrinchmikeI agree with you re: history and cautiousness.RIM has put themselves in the same position as FIU. People are now saying RIM has lost credibility for overstating,revising and missing targets....sound familiar? Analysts are saying RIM is now in a "show me" position. I believe FIU is in the "show me"  mode. Soon to be "I told you so" status.

[uranicynic]

The last time I dared to dream of a profitable quarter (January 2011)  we got a dilution. What Lefmike suggests could happen is all very possible, but bitter disappointment are all part of the FIU ownership experience. When that profitable quarter arrives .........look out, skyrockets.

[metalmaniak]

profitability will not come this quarter as EZ is still buring cash, maybe q3 at best. If not by Q4, we in big big trouble.

[narmac]

My money is on the July/August/September quarter for profitability!!  Possibly this quarter we will almost break even to maybe even with some luck and the timing! If gold continues to get support at these levels we all will be farting through silk!!   :o)  Mark my words!!!!! Gold holing up well this morning with the removal of Osama Bin Laden last night !! His remains

[lefmike1]

Ezeee breaking even is really what I said guys,  10 million gross before admin expenses is not a whole lot on sales of 120 million if you ask me.  I don't think Ezeee will be totally proffitable until Q2 or even Q3  but as far as burning cash, with the repairs done to the shaft and Uranium plant  as claimed by taht metal guy where else are they burning cash, apart from