| Tue 26 Jul 2011, 8:09 | | MWNT - Mine Waste Solutions - MWS receives Directive to Cease Operations |
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JSE MWNT
MWNT
MWNT - Mine Waste Solutions - MWS receives Directive to Cease Operations
Mine Waste Solutions (Proprietary) Limited
(Incorporated in the Republic of South Africa)
(Registration number 2000/1443/07)
(a wholly owned subsidiary of First Uranium Corporation)
JSE code MWNT, ISIN: ZAE000156261
("Mine Waste Solutions", "MWS" or "the Company")
NEWS RELEASE - July 26, 2011
MWS receives Directive to Cease Operations
Johannesburg - Mine Waste Solutions (Proprietary) Limited (JSE:MWNT) (ISIN:
ZAE000156261) ("MWS" or "the Company") announced today that the South African
National Nuclear Regulator (the "NNR") issued a directive to the Company to
cease deposition of material on all of the existing tailings storage facilities,
including the new life of mine tailings storage facility, citing alleged issues
regarding pipeline maintenance and non-reporting. The directive may be lifted by
the NNR upon the Company demonstrating its compliance with the terms of the
directive. In the interim, the Company has complied with the directive and
suspended operations. Notwithstanding the above, the Company believes that it
materially complies with the requirements of the NNR Act and as such will be
seeking injunctive relief from the local courts.
For further information, please contact:
Scot Sobey
Executive Vice President
Tel: +27 11 278 7001
Debt Sponsor:Investec Bank Limited
Cautionary Language Regarding Forward-Looking Information
This news release contains and refers to forward-looking information based on
current expectations. All other statements other than statements of historical
fact included in this release are forward-looking statements (or forward-looking
information). The Company`s plans involve various estimates and assumptions and
its business and operations are subject to various risks and uncertainties.
These forward-looking statements are made as of the date hereof and there can be
no assurance that such statements will prove to be accurate, such statements are
subject to significant risks and uncertainties, and actual results and future
events could differ materially from those anticipated in such statements. For
more details on these risks and uncertainties, see the Company`s pre-listing
statement can be downloaded from First Uranium Corporation`s website at
www.firsturanium.com.. Accordingly, readers should not place undue reliance on
forward-looking statements that are included herein, except in accordance with
applicable securities laws.
www.firsturanium.com
Date: 26/07/2011 08:09:39 Produced by the JSE SENS Department.
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