InvestSMART

First Au Limited (ASX:FAU)

ALERT: Price-sensitive ASX Announcement for FAU
Current share price for FAU : $0.205 0.198 (2,828.57%)+
Announcement
Release
29 Jun 2026 9:14AM
Price at Release
$0.007
Full Release
download
Summary
First Au Limited (FAU) announced its acquisition of the Riverina East Gold Project from Viking Mines Limited, marking a strategic expansion in the Kalgoorlie region. The project encompasses 11 mineral licences and is located near the historically significant First Hit Gold Mine. FAU will pay $1.2 million in cash and $1 million in shares upfront, with additional equity contingent on resource growth. The acquisition aligns with FAU's strategy to enhance its portfolio in the gold-rich districts of Western Australia, specifically targeting high-grade production areas with underexplored potential. Completion of the acquisition is subject to regulatory approvals, with exploration commitments set to boost the asset's value.
Key Points
  • First Au Limited to acquire Riverina East Gold Project.
  • Includes 11 mineral licences from Viking Mines Limited.
  • Located near First Hit Gold Mine in Kalgoorlie region.
  • Upfront payment of $1.2 million cash and $1 million in shares.
  • Additional equity contingent on mineral resource growth.
  • Strategic fit with FAU's focus on high-grade gold areas.
  • Completion pending regulatory approvals.
  • Exploration commitments to enhance project value.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.