First Au Raises $5.6m to Drive Western Australian Gold Strategy

First AU Ltd. ( (AU:FAU) ) has issued an update.

First Au Limited has completed a $5.6 million capital raising via a placement of 560 million new shares at $0.01 each, including $600,000 in director subscriptions, with one free attaching option for every two new shares subject to shareholder approval. The funds will be used to advance exploration at the Gimlet Gold Project, evaluate additional Western Australian gold opportunities and provide working capital, supporting the company’s strategic refocus on a concentrated Western Australian gold strategy and strengthening its capacity to progress Gimlet as its flagship asset within the Eastern Goldfields.

The most recent analyst rating on (AU:FAU) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on First AU Ltd. stock, see the AU:FAU Stock Forecast page.

More about First AU Ltd.

First Au Limited (ASX: FAU) is an advanced gold and base metals exploration company listed on the ASX, focused on pursuing gold opportunities in Western Australia. Its flagship asset is the 100%-owned Gimlet Gold Project near Kalgoorlie, which hosts a mineral resource of 119,600 ounces at a grade of 3.15 g/t gold, positioning the company within the Eastern Goldfields region.

Average Trading Volume: 23,044,083

Technical Sentiment Signal: Sell

Current Market Cap: A$28.84M

See more data about FAU stock on TipRanks’ Stock Analysis page.