First Uranium Corporation T.FIU

What's really going on

[Critical_Mass]

I think one only needs to look at the price of the 2012 debentures to get what is going on.  When this deal was announced it spiked close to par and has been slowly moving down since.  The bid is currently at 87.  And likely will move lower.   If I bought this, I would  be panicking too.  It doesn't take a leap that a few interested parties would  be too, and think spamming our board here to try and mislead and scare us into voting yes is a good idea.

For those of you new.  We have had multiple posters here creating new accounts and talking to themselves to support their cause.  Airgaddafi, and anonymous are the same person, which he/she even admitted several months ago.  Not to mention that guy Stockhouse outed more recently, and was trying to ban for creating hundreds of new accounts and talking to himself to try and manipulate stocks.  I forgot his name, but it shouldn't be hard to find the link again, and anyone who has been here for some time I'm sure remembers this.  They said he was active on fiu. 

It does not take much of a leap, to think one of the multiple new poster coming here, posting in close frequency of each other, and parroting each other's arguments with brand new accounts, are in fact either the same person, or a few related parties paid to mislead and influence us to their ends.  Creating new accounts and then disappearing when their poor arguments are exposed and they are in turn each discredited by their lies, only to start the same thing again under a new alias. 

Well it won't work.  Only a small fraction of stockholders are here, and they are solidly on our side.  And we will be taking our arguments, and the facts directly to all stockholders.  And with Sprott and the other funds already on our side, we will defeat you.  In the meantime, I will continue to be entertained by some of the obvious lies, and laughable arguments that have been posted recently to confuse us.

So instead of working to scare us into voting yes, I would suggest your time would be better spent, communicating with Gold One and AGA, and convincing them to improve their offer.

[Hmmmmmmm]

Critical, you realize that the debenture holders are a very fickle bunch? Currently they are yelling "take the offer, take the offer". In 2 months, when they hold a billion shares of FIU @ .14 they'll be crying "better offer, better offer". Sucks to be them. Must be very confusing. At least we have a solid direction!

[pillio24]

or maybe its because there are no other bids as of yet. Chinese and Russian investors are trying to get their hands on as many uranium and gold mining companies as they can, yet there are no other bids. Leads me to believe that these assets aren't worth as much as you think they are. When you get too emotionally attached to an investment you begin to look at what could or should happen instead

[Hmmmmmmm]

No Pillio I like my argument better. Debenture holders used to think they had cash in hand. When these deals are rejected they will have paper in hand.

[pillio24]

And so will you and I. A bunch of worthless paper.

[Hmmmmmmm]

Who knows Pillio how the market will react, the NAV will actually improve. The share swap for debt is a wash...but, given that situation, there will be a lot more of us after mgmt's heads than there are now. That's a bonus for us!!

[pillio24]

A company with no capital and huge amounts of debt? I highly doubt the nav will improve! I do agree there will be alot more investors that wont be very happy with mgmt. But thats not gonna be enough to get our money back.

[Critical_Mass]

Yeah, how their tune will change then.  I totally agree they won't think it's such a great deal at that point too.   Well the price isn't set yet.  So yeah it maybe a billion, and it may be a lot less. It is just a guess now. And we have more time then everyone realizes as one of the covenants the bond holders have to agree to is to extend the debt several months

[Hmmmmmmm]

NAV = assets-liabilities current = 700M-320M = 380M Future = 700M-170m = 530M

[chillyballs]

@ Pillio.....Re-read my post... don't see any mention on 'morons' in any of them.... opinions are good.... it is the ethics I question... you are very defensive.... I think you are pegged where you should be.....  

[pillio24]

And where is the funding going to come from to operate the mine? Are you going to take a trip to S.A and run the mine by yourself?

[pillio24]

Are u going to get a few of your friends together and head down to south africa with a shovel?

[Hmmmmmmm]

Pillio - am I going to run the mine by myself?    Results wouldn't be much worse if I did. Funding??? $60M annually from MWS isn't anything to sneeze at. Close Ez if not profitable.    

[Critical_Mass]

What are you talking about pillao?  That makes no sense. The mine funds itself and has been for sometime now. They already have a mining team in place that is doing just fine there with MWS.  They don't need replacing.

[pillio24]

Yes, but what the cost to get the minerals out of the ground?

[Hmmmmmmm]

With that question I know you're not informed.  

[pillio24]

How can you say the mine funds itself. If it did do you think the company would have burned through so much cash. What about the layoffs? Do you think the company would lay off that much of its work force if it didnt have to? 

[pillio24]

Well then educate me and let me know how much it cost.

[Critical_Mass]

You do relize FIU has two properties right? One very profitable, and one losing money trying to ramp up and most of our cash burn has come because we have still been finishing building these projects, which are now just finished. From the last quarter.  MWS results. Total ounces of gold sold  25,142 Average Cash Cost per ounce of gold sold ($)(e)  (613) Gross profit 14,919 Page7 FIU

[valuearb]

Assets as of 12/31 were $623M, where did you get $700M? Even knocking out the derivative liabilities, I still get $369M in liabilities, so tangible equity would be $250m-ish today, not $380M. And then if we convert, we'd have $400M-ish. But of course, if you can't just ignore the derivative liability, since it represents a significant amount of gold the company has to pay out if you

[valuearb]

You realize this ignores capital expenditures, interest, and taxes, don't you? It's my understanding that Mine equipment and construction doesn't last forever, and reguarly need reinvestment. Deducting CapEx to get to a more standard measure of free cash flow, MWS would have netted about $11M before tax last quarter. After interest payments, $3M per quarter, or $12M per year, pre-tax

[lefmike1]

Obviously your math is FAULTY   The shares can go opposite,  remember, AGA is not going ot sit by and watch their 20% of this company go,  the shares will very well ris eto what AGA  initially paid for them in the first place.  Please don;t insult us by sayign that one comapny cannot dictate teh share price.. Do you for a second want us to believe that the present share

[Hmmmmmmm]

Assets as of 12/31 were $623M, where did you get $700M? ESTIMATED NET ASSET VALUE (NAV)/SHARE Projects %Own'ship $MM $/Share C$/sh %NAV Ezulwini 100.0% $276.4 .24 .24 38.4% MWS 100.0% $443.3 .38 .38 61.6% Actually NAV = $720M per RBC Dec. 19/11 Even knocking out the derivative liabilities, I still get $369M in liabilities, Notes 167.7 Debentures 147.7 As