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 thebakeron Feb 20, 2012 10:01am

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Post# 19557188

RE: Would sprott ever want to run FAU ?

You are right, Sprott does not run goldmines. They invest money with the idea of making a return on their investment. If the loan payments are not made, they could get the ultimate return. Millions of dollars worth of infastructure, and a gold mine, with gold, that is ready to produce, if managed properly. As you point out, they have a number of junior gold producers in their portfolio. One of them would likely be willing to take over this operation and make money for Sprott. Their return on their investment gets a lot bigger. They could care less about the shareholders left holding the bag. You can believe what you like. You can be as sure as all get out. I believe that when the money is in my pocket, it is a sure thing, and not before.

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