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UPDATE 1-First Uranium Q2 gold production jumps 56 percent
October 20, 2010 / 2:13 PM / 7 years ago

UPDATE 1-First Uranium Q2 gold production jumps 56 percent

* MWS produces 18,598 oz of gold vs 13,422 oz last year

* Ezulwini mine produced 14,820 oz vs 7,952 oz

* Shares rise more than 13 percent

Oct 20 (Reuters) - Canada’s First Uranium Corp’s FIU.TO FUMJ.J second-quarter gold production jumped 56 percent as gold grade improved, sending its shares up more than 13 percent.

The gold and uranium miner, which has mines in South Africa, said it produced 18,598 ounces of gold from the Mine Waste Solutions (MWS) in the second quarter of fiscal 2011, compared with 13,422 ounces, a year ago.

For the quarter ended Sept 30, Ezulwini mine produced 14,820 ounces of gold, compared with 7,952 ounces, a year ago.

The Ezulwini mine also produced 31,408 pounds in the form of uranium. The company did not produce any uranium in the same period last year.

On Aug 31, the company had announced the temporary shutdown of its Ezulwini uranium plant for column replacement, which was expected to be completed by year end.

Shares of the company, which have lost 19 percent of their value since Aug 31, were trading up 8 percent at 80 Canadian cents Wednesday on the Toronto Stock Exchange.

It touched a session high of 84 Canadian cents. (Reporting by Aftab Ahmed in Bangalore; Editing by Vyas Mohan) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

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