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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 thebakeron Feb 21, 2012 11:05am
180 Views
Post# 19560965

RE: RE: RE: RE: RE: RE: Gold Bulls Expand as Pauls

RE: RE: RE: RE: RE: RE: Gold Bulls Expand as Pauls

Sclarda, other than the fact that you are in, and staying in for now, I am not sure what you are trying to say. In one statement you say that Sprott would get the assets, which I believe to be true, and have stated. Their shares would be meaningless, as they own everything.

You go on to say that you do not think they would go through the hassles of trying to sell or run the operation. If I had $7.5 million tied up in something, I certainly would try to get something back. The assets and the gold that is there are definitely worth something.

I cannot say for certain that it is poor management, or circumstances, that are causing the problems, but there are problems. I do not think they were prepared. That reflects on management. I hope they can get on track and make us some money, but they are losing my confidence. Fortunately for me, I do not have a lot at stake.

Bullboard Posts