First Uranium cuts 2012 gold production estimates

TSX- and JSE-listed First Uranium on Thursday lowered its gold production forecast for 2012 and said it would not achieve its gold and uranium sales target for the financial year. The company, which warned late last year it might lay off 1 850 people at its Ezulwini mine, downgraded its gold output forecast for the year to between 98 000 oz and 100 000 oz. This is down from a previous guidance of between 105 000 oz and 115 000 oz.

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