WARNING: This is Version 1 of my old archive, so Photos will NOT work and many links will NOT work. But you can find articles by searching on the Titles. There is a lot of information in this archive. Use the SEARCH BAR at the top right. Prior to December 2012; I was a pro-Christian type of Conservative. I was unaware of the mass of Jewish lies in history, especially the lies regarding WW2 and Hitler. So in here you will find pro-Jewish and pro-Israel material. I was definitely WRONG about the Boeremag and Janusz Walus. They were for real.
Original Post Date: 2010-07-30 Time: 16:00:07 Posted By: News Poster
By Allan Seccombe
Johannesburg – FIRST Uranium has enough cash to meet its funding requirements but much hinges on achieving planned gold and uranium production from its Ezulwini mine.
First Uranium owns the Ezulwini mine, which produced 14 120oz of gold and 19 764lb of uranium in the quarter to June.
Mine Waste Solutions, its tailings treatment division, generated 20 215oz of gold in the period.
Under the new leadership of Deon van der Mescht plans for both operations have been revisited, with a view to stepping up production and cutting costs.
“The performance of Ezulwini is key to the success of First Uranium, as the company relies in part on the cash generated from the gold and uranium output at Ezulwini to fund its business plan,” Mr van der Mescht said yesterday.
“Current cash reserves are expected to be sufficient to meet funding requirements at planned economic assumptions.”
The focus has been creating an achievable ramp-up plan for Ezulwini, which is expected to be cash positive after capital expenditure in the March quarter of next year.
The mine is expected to produce 81 000oz of gold in the financial year to March and 117 000lb of uranium.
First Uranium will spend R125m this year on the mine. The average cash cost is 1 182/oz, with it tailing off to 857 in the last quarter of the financial year. Ezulwini will reach peak output of 309 000oz of gold in financial year 2019 and 909 000lb of uranium in 2018.
At Mine Waste Solutions, the plant was able to operate as a dual- stream operation rather than the anticipated single-stream because one of the tailings dams retained its structural integrity.
This integrity combined with a new water use licence means the division can ramp up production to 1,2-million tons per month from 975 000 tons from October this year.
First Uranium is building a new tailings facility and a third module to the gold plant, which will allow Mine Waste Solutions to ramp up output to 1,8-million tons a month in May next year. The total cost for the division is R2,9bn of which R2,24bn has already been spent.
Original Source: 
Original date published: 30 July 2010
Source: http://allafrica.com/stories/201007300673.html?viewall=1