Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
G&M reports on First Uranium’s (TSE:FIU) shares at an all-time low.
The market news is quoted as saying:
First Uranium lost 9 cents (U.S.) per share in the quarter, 4 cents worse than street estimates, with similarly disappointing cash flow figures. It also dropped its fiscal 2012 gold and uranium production guidance.
First Uranium is developing gold and uranium extraction operations at the underground Ezulwini mine and its Mine Waste Solutions tailings recovery facility, both in South Africa. It has a $150-million (Canadian) convertible debenture expiring in June of next year and another $175-million of debentures due in 2013.
