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First Au Ltd V.FAU.H


Primary Symbol: FRSAF

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

Bullboard Posts
Comment by rockport1on Jun 03, 2010 1:05pm
527 Views
Post# 17155023

RE: RE: RE: y do I torture myself and buy this, ag

RE: RE: RE: y do I torture myself and buy this, ag@Gregarious  I think that PFN do not sell FAU based on share price. They simply want to maintain a certain level of shareholdings. They obviously like to participate in the FAU PP's since this gives them warrants in addition to common shares. However, when they participate in PP's or exercise warrants, they need to sell existing common shares to bring them back to the level of FAU holdings they are comfortable with.
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Since they are insiders (and disclose their trades) with significant holdings, they need volume to sell their shares into without crashing the share price. That is why they sell during favorable news releases that should normally increase share price. They become the sellers that absorb all the buying pressure. 
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Perhaps they have sold enough, and therefore we finally get a positive reaction in share price due to the news release as we see today. Let's hope that is the case, since IMO the stock is very undervalued. GLTA, lets hope the share price holds up today.
Bullboard Posts