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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Comment by JohnEStromJron Jan 17, 2012 4:16pm

194 Views

Post# 19414020

RE: RE: RE: RE: Fire River to only make quarterly

I'm sorry to say that I do, in fact, own shares. I wish I didn't and did sell half about 5 months ago.

I'm glad you're confident in Fire River and wish you success - but I have trouble with a company that is secretive and does not keep shareholders advised. Tell us, how does one do due diligence? Is thre an N143-101 we can rely on? Do we really have any verifiable gold in the ground? Announcing they would only update every quarter does not give me much comfort especially after we just discovered they had already mined their richest ore. Ninty years ago - which I do not believe - leaving us with a greatly reduced amount of ore.

Management prattles on about drilling as they need more ore - great if you can do it but I don't think they can or will. And their pronouncement of producing 50,000 ounces per year - where did they pull that number from? A responsible company keeps shareholders updated which give those interested in investing a level of confidence whereas a secretive company does the reverse. Fire River is a very secretive company - to its own shareholders and that's not a positive when thinking about investing. I would LOVE to sell my shares but they're worth less than half what I paid so I'm stuck - but I don't have to like it. I'll venture there are a lot more that are also underwater with this company that those that are above water. Anyway, I'm not impressed with Richard Goodwin nor with Fire River's performance.

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