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First Au Ltd V.FAU.H


Primary Symbol: FRSAF

Metals & Mining Industrial Metals & Minerals
First AU Limited is an Australia-based advanced gold and base metals exploration company. The principal activity of the Company is exploration for gold and other metals in its interests in mining tenements located in Western Australia and Victoria. It is engaged in pursuing exploration programs at its Victorian Goldfields Project in East Gippsland and its 100% owned Gimlet Gold project near Kalgoorlie. The Victorian Gold Project is located in the Gippsland region, which is in the historic mining area of Swifts Creek and is focused on the Haunted Stream and Snowstorm Projects. The flagship Haunted Stream Project is located in East Gippsland Victoria (340 kilometers (km) South East of Melbourne). The Company’s Gimlet Gold Project is located approximately 15 km northwest of Kalgoorlie, Western Australia EL26/174 and application M26/849 -9.6 square kilometers. The Snowstorm Prospect is located within the historic Swifts Creek Goldfields in the East Gippsland region.


OTCPK:FRSAF - Post by User

First Au Ltd
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Post by SergeBruneton Jul 11, 2011 4:44pm
457 Views
Post# 18819725

By-products...

By-products...At the copper and silver grades they will be mining, the revenue should be between 80 to 200 USD/MT mined.  At 200 MT/day, that amounts to between 16 to 40 000 $/day or 12 M/year roughly.  That should cover a lot of expenses!
I have tried to get answers from management for about 3 months on the potential impact that the by-product credits will have on their operations, without success.

I believe that they should highlight/disclose this information as this is definitely an important factor in the cost of production and company valuation.

I have difficulty reconciling the above with today's news where they mention 'half' the sales will be from by-products, since this would mean about 50M$ worth of copper & silver per year.

I do not mind having a geologist as a CEO, but a bit more promotional savvy would go a long way.

Have a great day!

SB
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Dealroom for high-potential pre-IPO opportunities