First Uranium begins toll treating gold ore from its Ezulwini Mine
Monday, November 5th, 2007
First Uranium Corporation announce that the Corporation commenced transporting gold ore from the Ezulwini Mine for toll treatment at the Randfontein Estates Limited (“REL”) Doornkop gold plant at the end of October 2007.
Based on Ezulwini Mine start-up schedules for mining uranium and gold, the Corporation expects to ship approximately 5,000 tonnes of ore for toll treatment in November 2007 and steadily increase the quantity to about 25,000 tonnes per month by April 2008, when the Ezulwini Mine’s own gold plant is scheduled to be commissioned. For the next six months mill feed grades are expected to range between 6.5 grams per tonne and 8.0 grams per tonne, although the average gold grade is initially expected to be lower since development ore will be processed first.
“Now that we are shipping ore from the Ezulwini Mine, both of our projects are now in gold production and are contributing to our cash flow”, said Gordon Miller, First Uranium’s President and Chief Executive Officer. “To see the Ezulwini Mine come into production on schedule is particularly gratifying and confirms the confidence we have in the ability of our experienced operating team at this site to meet future milestones on time and on budget. To this end, they are on track with the start-up milestones for the completion of our own gold plant next April and our uranium plant in June.”