First Au to Acquire 80% Stake in the Victoria Goldfields, Stocks up 37%

  • Jun 03, 2020 AEST
  • Team Kalkine

First Au Limited (ASX:FAU) announced the signing of a binding agreement to acquire 80% stake of Victorian Goldfields Pty Ltd (“Vic Gold”) which holds 5 Exploration License Applications at the Victorian Goldfields Project in East Gippsland, Victoria.

First Au gains an early access to the prospective ground in Eastern Australia. Historically recorded mining production suggest the mining activity dates back to 1880s with ore being extracted at gold grades exceeding 1 ounce per tonne (>31.1 grams per tonne). The tenement application area stretches over 2,250 square kilometres with one of the tenements anticipated to potentially host Au-Cu porphyry.

The acquisition will further strengthen the geological team at the First Au with the addition of Ian Neilson, a highly renowned structural geologist, as a consultant. Following the acquisition Mr Gavin England will serve as the Technical Director leading the technical team at the Victoria Goldfields project.

First Au traded at $0.015 a share at 12:26 AEST on 3 June 2020, an increase of ~37% against previous close, with a market capitalisation of $4.48 Million.


The website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The article has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. All pictures are copyright to their respective owner(s). does not claim ownership of any of the pictures displayed on this website unless stated otherwise. Some of the images used on this website are taken from the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image.


There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.

As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK