Five key facts to know about First Au Limited (ASX:FAU) - Kalkine Media

Highlights

• First Au Limited has its prime focus on building a strong project portfolio with major discoveries in its gold and base metal assets in Victoria, Western Australia, and South Australia
• The results of historic work and geological settings have brought forth the prospectivity of the projects that the company is developing
• FAU believes its projects based in Victoria and South Australia pave the way for greater opportunities for exploration success
• Two of FAU’s projects, one in Western Australia and another in South Australia, have been listed in the ‘Top 10’ rankings of the 2021 Fraser Institute

First Au Limited (ASX:FAU) is an ASX-listed diversified explorer with its prime focus on gold and base metals in Victoria, Western Australia, and South Australia. The company has been making great moves to build a strong project portfolio with major discoveries in its gold and base metal assets.

Today, in this article, we will delve into some crucial details about the company and see how they influence the positioning of the firm in the overall mining industry.

1. Corporate strategy:

First Au believes in using advanced thinking and techniques for exploration and utilising the skillset and knowledge of its experienced team to the fullest to grow its portfolio. The company makes the most of new exploration opportunities via strategic tenement pegging of new ground and joint ventures and acquisitions in the prime mineral provinces of the country.

The company ascertains it has enough working capital for holding exploration campaigns as and when required across regions. 

To know how FAU performed in the September 2022 quarter, click here.

2. Quality holdings:

Image Source: Company Website

The results of historic work and geological settings have brought forth the prospectivity of the projects the company is developing.

Projects in the orogenic gold belts of Victoria, be it Snowstorm, Haunted Stream, Dargo, or Dogwood, have been delivering strong results, as per the company updates. For the past two years, the company has been focusing on the activities at these project sites, demonstrating the potential for material discovery.

Moreover, the company’s projects based in Victoria and South Australia have been comparatively less explored. The company believes these projects pave the way for greater opportunities for exploration success. Also, promising early-stage exploration results have been delivered from the areas of the Gimlet tenement. The company will take the essential measures for follow-up by drilling.

To know about the latest developments across the company’s projects, click here

3. Well-regarded jurisdictions:

The company has project holdings in renowned mining jurisdictions. It has projects in three states across the country that are well appointed by facilities enabling quick access to labour and services. All the project locations have a long history of mining. Notably, two of FAU’s projects, one in Western Australia and another in South Australia, have been listed in the ‘Top 10’ rankings of the 2021 Fraser Institute.

4. Committed management team:

FAU boasts a robust team of professionals and experts with extensive experience in the junior resources sector.

• Ryan Skeen, Chief Executive Officer of the company, holds immense experience and great knowledge about the financial and economic markets. The company believes he offers valuable investment and strategic advice in intricate situations. He also serves as a Non-Executive Director of Heavy Rare Earths Limited (ASX:HRE).
• Michael Quinert, a Non-Executive Director, holds a specialisation in helping organisations across sectors to get listed on the Australian Stock Exchange. He also serves as Chairman of West Wits Mining Limited (ASX:WWI), which has active gold mining activities in Indonesia, Australia, and South Africa.
• Damon O’Meara, a Non-Executive Director, has dedicated around 40 years of his life to the mining industry. He founded Outback Trees of Australia after working in exploration for decades. His firm works with key mining firms, namely Woodside, BHP, Rio Tinto, Atlas Iron, FMG, Chevron, and BC Iron.

5. A pool of opportunities:

The company is confident that with the obtained results and given the quality of the exploration ground, it has a fair opportunity for exploration success in all projects. However, further drilling is required in some areas at the Gimlet project site. This further increases the scope of amplifying the resource.

FAU’s future plans include measures to be taken for returning to and boosting shareholder value at Gimlet, considering its location with access to infrastructure and services.  

Stock information: FAU shares were trading at AU$0.005 apiece on 30 November 2022.