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.

OTCPK:FRSAF - Post by User

First Au Ltd

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Comment by Tomkinson Jun 30, 2012 12:35pm

554 Views

Post# 20072078

RE: RE: RE: RE: RE: RE: Remember this NR

Doubtful, being a financial company, if that was true they would face the fact of holding the property for a long time without a buyer. Something like that would take a substanual amount of time. Watertons share holders my be upset if they operated that way, working with an unknown future. What will be the price of gold in 2 years, what will be the cost of flying in fuel. They do want their money and it is much better for them if FAU pays, rather then gamble on a default.

There are too many varibles for Waterton to operate that way, with which thet have no control over. Financial insitutions repos are sold at a loss usually. They never really get what the asset is valued at.

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