First Au Limited's successful capital raising

First Au Limited (ASX:FAU) has successfully raised $325,000 through a private placement. The company issued 260,000,000 new fully paid ordinary shares at A$0.001251 each. These shares will be equal to existing shares and are expected to be quoted by 21 November 2024. The funds will support ongoing exploration projects and potential new opportunities.

Overview and future outlook for First Au

First Au Limited has concluded a private placement, securing $325,000 before costs, by issuing 260,000,000 shares at a discount. This capital will be utilized for ongoing exploration at the Gimlet Gold Project and the Victorian Gold Project, along with assessing new projects and general working capital. The new shares will be on par with existing ones and are expected to be listed by 21 November 2024. This initiative aligns with the company's strategy to strengthen its exploration activities and expand its project portfolio.

Executive insights on private placement

The completion of this placement underlines our commitment to advancing our exploration projects and evaluating new opportunities. We appreciate the support from our investors and are excited about the future prospects,' says Daniel Raihani, Chairman.