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First AU Ltd. ( (AU:FAU) ) has provided an update.
First Au Limited has achieved full ownership of the Victorian Goldfields Project, a significant gold asset in an underexplored gold belt, by acquiring the remaining 20% stake. The company is also divesting non-core assets to strengthen its balance sheet and focus on high-potential targets. In Liberia, FAU has entered a binding agreement to earn up to a 70% interest in the Nimba Gold Project, with plans to raise A$1 million to support this venture. The Nimba Project is strategically located near major gold mines and offers promising exploration potential. Additionally, FAU has committed to a drill-for-equity program at the Gimlet Project in Australia, aiming to upgrade resources and optimize future mining studies.
More about First AU Ltd.
First Au Limited (ASX: FAU) operates in the mining industry, focusing on gold exploration and development. The company is primarily engaged in projects located in Victoria, Australia, and Liberia, West Africa, targeting high-grade gold mineralization in underexplored regions.
Current Market Cap: A$10.38M
For detailed information about FAU stock, go to TipRanks’ Stock Analysis page.