First Uranium: Production Update for the Three Months Ended December 31, 2011
Friday, 27 January 2012 09:07
First Uranium Corporation released its production results for the three months ended December 31, 2011.
For Q3 2012, the Company reported a 5% decrease in gold ounces sold and a 14% decrease in uranium produced compared to the gold ounces sold and uranium produced in Q2 2012. The Company sold 38,548 ounces of gold in Q3 2012 compared to 40,529 ounces of gold in Q2 2012. Uranium produced was 30,887 pounds in Q3 2012 compared to 36,006 pounds in Q2 2012.
Said CEO Deon van der Mescht:
“The third quarter proved particularly challenging from a safety and production perspective, especially for Ezulwini Mine. The three fatal accidents in the latter half of the 2011 calendar year had a significant negative impact on employee morale and productivity. This is reflected in the lower than anticipated production figures which in turn necessitated the restructuring of the Ezulwini Mine in order to secure the future of this operation.”
