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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 JohnEStromJron Nov 11, 2011 2:41pm
191 Views
Post# 19230757

RE: RE: RE: RE: RE: RE: Sprott Credit Facility

RE: RE: RE: RE: RE: RE: Sprott Credit FacilityI'm pretty sure you'll find that Nina LeFleur is very tightly contained about what she's allowed to say. That's a shame as you'll not really be able to get to the bottom of the problem but clearly Fire River's President and COO, Richard Goodwin is not up to the task. HOW can we be needing a loan given we just received almost $ THREE MILLION dollars in less than two months? Why would he give up effective control of the company, using ALL of our assets in a [then] $35 million company for a measly $7.5 million loan? He could have easily used a percentage of our receivables instead he chose to gamble the entire company for a small loan. Why can't he produce dore that can be refined? Why does he ship dore without letting shareholders know? Shipping dore SHOULD be a VERY positive NR event yet Goodwin was silent on this. Fire River needs someone who KNOWS how to run a gold mine and knows how to produce dore that can be refined - and let shareholder know when they are shipping dore to the refiner. I know we may not get paid for dore until refined but since our entire revenue stream is derived from shipping concentrate and dore the least he could do is let US know when it IS shipped. I'm not a happy investor seeing how the share price continues to decline. He is losing OUR money - I don't care about Sprott's money. HOW do you lose money in gold right now when our cost is supposed to be our byproduct [silver] metal? I'm sure not impressed.
Bullboard Posts