FirstAu Expands Western Australian Gold Portfolio with Strategic Riverina East Acquisition
FirstAu Limited (ASX: FAU) has agreed to acquire the Riverina East Gold Project from Viking Mines (ASX: VKA), significantly strengthening its gold exploration portfolio in Western Australia. The acquisition includes 11 mineral licences and one exploration licence application covering approximately 255km² in the Eastern Goldfields, including the historic First Hit Gold Mine, which previously produced around 30,000 ounces of gold at an average grade of 7.7g/t. The transaction also secures the highly prospective Bifrost prospect and provides exposure to a well-established mining district near existing processing infrastructure and the Riverina Gold Mine.
The acquisition carries an upfront consideration of AU$2.2 million, comprising AU$1.2 million in cash and AU$1.0 million in FirstAu shares, with up to AU$2.8 million in additional performance-based equity linked to drilling and resource milestones over five years. FirstAu has also committed to a minimum AU$500,000 drilling program within the first year following completion. The company believes the acquisition aligns with its strategy of building a high-quality gold portfolio through disciplined exploration and targeted project acquisitions, subject to customary regulatory approvals.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au
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FirstAu Expands Western Australian Gold Portfolio with Strategic Riverina East Acquisition
FirstAu Limited (ASX: FAU) has agreed to acquire the Riverina East Gold Project from Viking Mines (ASX: VKA), significantly strengthening its gold exploration portfolio in Western Australia. The acquisition includes 11 mineral licences and one exploration licence application covering approximately 255km² in the Eastern Goldfields, including the historic First Hit Gold Mine, which previously produced around 30,000 ounces of gold at an average grade of 7.7g/t. The transaction also secures the highly prospective Bifrost prospect and provides exposure to a well-established mining district near existing processing infrastructure and the Riverina Gold Mine.
The acquisition carries an upfront consideration of AU$2.2 million, comprising AU$1.2 million in cash and AU$1.0 million in FirstAu shares, with up to AU$2.8 million in additional performance-based equity linked to drilling and resource milestones over five years. FirstAu has also committed to a minimum AU$500,000 drilling program within the first year following completion. The company believes the acquisition aligns with its strategy of building a high-quality gold portfolio through disciplined exploration and targeted project acquisitions, subject to customary regulatory approvals.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au