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 Snegamookon Jun 26, 2012 3:14pm

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Post# 20056245

RE: Market cap now 8 Million now- sale price?

You dream if you think there is a buyer out there just itching to get this property. This property started production a year ago and is now deeper in debt than it was then. If management does not start turning a profit soon, the market cap will be zero. On the face of it, this venture was a good spec but neither management or the advice it took seems to have been the best and conditions on site turned out to be far worse than expected. I hope the new management can turn the mine around. We'll never learn the details.

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