First Au Limited
FAU.AX
Australian Securities Exchange0.01
AUD
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First Au Limited
FAU.AX
(Australian Securities Exchange)
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0.01
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yld
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ROIC.AI
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- Business
- First Au Limited (ASX: FAU) is an Australian-based gold exploration company focused on advancing high-grade gold projects in Western Australia. The company operates within the gold mining sector, targeting resource delineation and development through drilling programs, geophysical surveys, and resource estimation; it offers exploration services including joint venture opportunities and tenement management for junior miners. Founded in 2018 and headquartered in Perth, Australia, First Au maintains operations primarily in the Laverton and Leonora regions of Western Australia, with tenements covering prospective greenstone belts known for multi-million ounce gold systems. Core products and services encompass gold exploration assets such as the Calliope Gold Project, which features high-grade intercepts from recent drilling; the Aurora Gold Project with shallow oxide resources suitable for heap leach potential; and the Wattle Dam Gold Project, a high-grade underground mine formerly operated by Ramelius Resources. The company provides detailed geological modeling, reverse circulation and diamond drilling services, and metallurgical testing to optimize gold recovery rates above 90% for its deposits. Target customers include institutional investors, gold producers seeking satellite deposits, and strategic partners in the Australian mining industry. Recent major developments include the completion of a A$5 million placement to sophisticated investors in late 2024 to fund accelerated drilling at Calliope, marking a significant funding round for resource expansion; strategic alliance discussions with mid-tier gold producers for potential toll-treating or acquisition of its oxide resources; and the launch of a new JORC resource update at Aurora in mid-2025, increasing indicated ounces by 25% through infill drilling. In early 2025, First Au reorganized its tenement portfolio by divesting non-core assets to streamline focus on high-grade hubs, alongside operational changes such as engaging a new EPCM contractor for pilot plant studies at Wattle Dam. These initiatives position the company for production readiness within 18-24 months amid rising gold prices.