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The latest update is out from First AU Ltd. ( (AU:FAU) ).
First Au Limited has entered into a binding Heads of Agreement with AustChina Holdings Limited to divest its Eastern Victorian Goldfield Project. The agreement allows AustChina an exclusive option to acquire the project, enabling First Au to unlock value from non-core assets and focus on its key projects in Liberia and Western Australia. This transaction provides First Au with non-dilutionary funding and retains potential upside exposure through equity in AustChina, potentially benefiting stakeholders by focusing resources on more strategic assets.
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 actively pursuing opportunities at its Gimlet Gold project near Kalgoorlie and has a joint venture with Hamak Gold Limited for the Nimba Gold Project in Liberia.
Average Trading Volume: 12,926,993
Technical Sentiment Signal: Sell
Current Market Cap: A$23.59M
See more insights into FAU stock on TipRanks’ Stock Analysis page.