First Uranium reports FY2010 annual report
First Uranium, which is a completely mis-named company in light of the fact that most of its revenues are derived from gold sales, reported its fiscal year-end report on a Friday evening. Note their...
View ArticleTrading credit principal for quality – TFSA update
As readers here may remember, my TFSA investment (which I am trying to compound as quickly as possible) was in First Uranium debentures (TSX: FIU.DB), unsecured senior debt, coupon 4.25%, maturing June...
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Figuring out First Uranium’s trading
Over the past five days, First Uranium equity has gone up approximately 50%: Nothing public has happened to the company in the past five days, and the last major piece of news coming out was on October...
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The First Uranium Whiplash
Although I don’t have a stake in the equity of First Uranium (TSX: FIU), I note with some mild amusement how a company can go up and down so rapidly in a short period of time – makes you wonder whether...
View ArticleFirst Uranium – valuation
I don’t know why I find the trading of First Uranium (TSX: FIU) to be this exciting, but it is fairly obvious the market is pricing in a turnaround in its operations. Considering that it couldn’t have...
View ArticleGold Wheaton gets bought
Gold Wheaton (TSX: GLW) sold itself today for 40% cash and 60% stock for about CAD$830 million. The acquiring company is Franco-Nevada Corporation (TSX: FNV). The buyout price caused a jump of about...
View ArticleLearning to read statements faster than others
First Uranium posted a production report for their last quarter. In the Thursday morning very long release contained the words that all equity investors dread: The Company’s current cash resources may...
View ArticleFirst Uranium – Raising equity financing
First Uranium (TSX: FIU) announced they closed a $52 million equity financing at $1/share. They had originally had $46 million subscribed with a $6M greenshoe embedded. This is about a 22% dilution of...
View ArticleCredit coming to a crunch
It is quite evident looking at bond trading that credit is coming to a halt, very quickly. First of all, I notice debentures on various firms are plummeting – most of the underlying companies have lots...
View ArticleThe sad, sad saga of First Uranium comes to a close
First Uranium (TSX: FIU) sold all of its principal assets today, pending shareholder approval. First Uranium had two assets: a profitable Mine Waste Solutions asset, which was sold to AngloGold Ashanti...
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