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.

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First Au Ltd

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Comment by mktwatcher1on Nov 05, 2011 11:01am

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Post# 19212287

RE: RE: RE: RE: Sprott Credit Facility for $7.5 Mi

I think what raises concerns about this credit facility is the wording that is in the NR regarding the security for the credit facility. The implication/inference of securing a $7.5 M credit facility with "substantially all the assets" is seeming to outweigh any positives of having access to additional funds without a 20.0M share dilution. I have been a shareholder from early on and am frustrated at not seeing the value of this producing gold mine reflected in the SP.

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