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- First Au has agreed to Octava’s request of extending the latter’s listing date on the ASX up to 14 September 2022.
- Earlier, Octava had lodged a prospectus for the initial public offering and its listing on the ASX.
- As per the JVFI, Octava may earn up to 80% stake in the Talga project, with the remaining being held by FAU.
In its latest update on the Talga Project Joint Venture and Farm-In Agreement (JVFI), First Au Limited (ASX:FAU) reported that its JV partner, Octava Minerals Limited (previously named 8 AU Limited) has sought an extension for its listing on the ASX.
First Au has agreed to the request and Octava would now be required to list on the ASX by 14 September 2022. Previously on 23 March 2022, First Au had reported that Octava would be required to list on the ASX by 12 August 2022.
Must Read: First Au (ASX:FAU) shareholders approve Talga Project JVFI agreement
In June, First Au shareholders had approved the transaction with Octava at its 2022 annual general meeting. Octava had also lodged a prospectus for the initial public offering and its listing on the ASX with ASIC.
Source: FAU Presentation
As per the JVFI, Octava may earn up to 80% stake in the Talga project, with the remaining being held by FAU. Following the transaction, Octava will be solely responsible for managing and exploring the tenements. This will enable FAU to focus on its other mineral projects especially its Victorian gold projects.
Read Here: First Au Limited (ASX:FAU) secures AU$900,000 in funding commitments