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First Uranium Steady After Local Authorities Said to 'Withdraw' Gold Reclamation Ops

First Uranium Corp (FIU.TO) is down fractionally at 34.5 cents a share, losing 0.5 cents, after saying the South African Minister of Mineral Resources in South Africa may soon "withdraw" the company's right to operation ts Mine Waste Solutions at its Ezulwini Mine.

The company responded by saying that its legal counsel believes the gold reclamation operation does not constitute mining as defined in South Africa law and accordingly does not require a mining right to operate. The purported ministry notice comes almost simultaneously as First Uranium resumed operations at Ezulwini Friday following an accident earlier this week that killed one employee.

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

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