First Au Limited (ASX:FAU) Releases Quarterly Activities Report
Exploration Updates
First Au Limited continued its exploration activities at the Gimlet Gold Project in Western Australia, reviewing options to generate shareholder value. At the Victorian Gold Project, the company signed a Deed of Variation for PL007319, extending the option term by 12 months and increasing interest to 100% upon payment of $250,000. Additionally, First Au submitted a partial surrender request for Exploration Licence EL5422, retaining 99 graticular sections.
Corporate Update
The board saw changes with Quentin Charaud joining as a Non-Executive Director and Daniel Raihani transitioning to Non-Executive Chairman. Xavier Braud resigned from the board effective 29 October 2024. On 26 November 2024, First Au successfully raised $325,000 through the issuance of 260,000,000 new ordinary shares to professional investors, with funds directed towards working capital and new project assessments.
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