First Uranium Notes ISS Transaction Recommendation


First Uranium Corporation (FIU.TO) noted today that Institutional Shareholder Services ( ISS ), a proxy advisory firm, has recommended that First Uranium shareholders support two asset sales approved by the company's board of directors.

The ISS report concludes that "the proposed transactions…offer relatively certain value which is substantially higher than the current market value of the company's shares".

First Uranium's board of directors recently approved the sale, through two subsidiary holding companies, of its Mine Waste Solutions operation and the Ezulwini mine, to AngloGold Ashanti Ltd. and Gold One International Ltd. for $335 million and $70 million, respectively. Both operations are located in South Africa.

First Uranium shareholders are due to consider the proposed transactions at a special meeting on June 13, 2012.

FIU shares were off half a cent to $0.07 on volume of 418,000.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: ISS

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