First Au pockets $300,000 via placement

First Au (ASX:FAU) has raised $300,000 via a private placement to fund the assessment of new project opportunities and for general working capital. 

The company will issue 200 million new fully paid ordinary shares at $0.0015 per share to strategic professional and sophisticated investors. 

Shares will be issued without shareholder approval and is expected to occur on 5 December 2023. 

First Au notes that there are no cash commissions arising from funds raised in the placement. 

First Au is an ASX-listed gold and base metals explorer focused on discoveries at its Victorian Goldfields project and its wholly owned Gimlet Gold project.

Write to Aaliyah Rogan at Mining.com.au     

Images: First Au
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Written By Aaliyah Rogan
Relocated from the East Coast in New Zealand to Queensland Australia, Aaliyah is a fervent journalist who has a passion for storytelling. When Aaliyah isn’t writing stories, she is either spending time with friends and family or down at the beach.