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 JohnEStromJron Nov 25, 2011 12:52pm

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Post# 19267621

RE: RE: RE: Recent Mine update

Gaberlunzie,

Thanks for your research and comments, they're very much appreciated. It has always seemed strange that we keep hearing about the excellent drill results Fire River is getting but that does not seem to translate into gold recovered.

Your sleuthing points out two major flaws in their operation - trying to mine too much lower grade ore instead of focusing on the high grade and the inclusion of arsenic in very high levels. That should have been addressed before they began processing the ore since a CIL circuit is a requirement. It his rush to get mining and processing ore Goodwin took shortcuts and we're now paying the price. It doesn't say much for the geological report either. Sloppy and unprofessional from my point of view.

Which makes me wonder what he was thinking and does he really have the experience to run a gold mining operation. Fire River share price continues to drift downward and was the reason he made what I think was a very poor deal with Sprott. If Goodwin can't drill the right ore Fire River is in very big trouble.

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