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- First Au (FAU) begins the week in a trading halt while it plans the details of an upcoming capital raising
- The company will remain in the halt until October 13 or when more details are released, whichever occurs first
- On September 22, First Au began a geological review at the Dogwood Prospect in Victoria to determine the copper-gold potential
- Once the review has wrapped up, the company will undertake exploration works to replicate previous drilling and test mineralisation at depth
- Shares in First Au last traded at 1.4 cents on October 8
First Au (FAU) has begun the week in a trading halt while it plans the details of an upcoming capital raising.
The company will remain in the halt until October 13 or when more details are released, whichever occurs first.
First Au is yet to disclose how much it intends to raise or what it will use the funds for once received.
On September 22, First Au began a geological review at the Dogwood Prospect within the Lachlan Fold Bet in Victoria.
A review of historical exploration shows best intersections of 13.2 metres at 1.33 per cent copper and two metres at eight grams of gold per tonne (g/t).
Furthermore, the United States Geological Survey has suggested that Dogwood is highly prospective.
Once the geological review has wrapped up, First Au will undertake exploration works to replicate previous drilling and test mineralisation at depth.
Shares in First Au last traded at 1.4 cents on October 8. The company has an $8.60 million market cap.
