[miningmx.com] — GOLD One International and First Uranium Corporation have signed a binding sales agreement on the transfer of Ezulwini mine, the companies announced on Monday.
Gold One is in the process of acquiring Ezulwini from First Uranium for $70m, following the conclusion of a letter agreement on March 2.
Among other conditions, Gold One requires that the security related to various credit deals against Ezulwini be lifted. For its part, Gold One is required to extend a $10m loan facility to First Uranium until the deal has been completed.
The deal is expected to be finalised by end-June, pending approval from the Competition Commission.
