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first uranium Waterpan plans buyout offer

June 4 2012 at 05:00am

Waterpan Mining Consortium was raising funds to bid for all the shares of Toronto-based First Uranium, the consortium said on Friday. A First Uranium investor had pledged to support Waterpan if it made an offer, the consortium added. Waterpan would make an offer by the middle of next week or “walk away completely”, said director Chopper van der Bijl. First Uranium’s local shares increased 30 percent to 69c on the JSE in one deal on Friday. – Bloomberg


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