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An announcement from First AU Ltd. ( (AU:FAU) ) is now available.
First Au Limited has successfully completed a two-tranche private placement, raising $1.56 million to fund the acquisition of the Nimba Gold Project and ongoing drilling activities. The placement involved issuing 440,193,430 new ordinary shares, with shareholder approval obtained for the second tranche, ensuring compliance with listing rules. This capital raise supports the company’s strategic expansion into the highly prospective Nimba Gold Project, potentially enhancing its industry positioning and shareholder value.
More about First AU Ltd.
First Au Limited (ASX: FAU) is an advanced gold and base metals exploration company listed on the Australian Securities Exchange. The company is engaged in exploration programs at its Victorian Goldfields Project in East Gippsland and its Gimlet Gold project near Kalgoorlie. First AU is actively seeking high-quality gold project opportunities globally, aiming to acquire a flagship project to maximize shareholder returns. Recently, the company entered into a joint-venture exploration opportunity to acquire the Nimba Gold Project in Liberia.
Current Market Cap: A$11.42M
Learn more about FAU stock on TipRanks’ Stock Analysis page.