Australia's First Au rises on plans to buy gold project, premium placement

First Au

21/05/2025 05:14

** Shares of First Au FAU.AX rise 16.7% to A$0.0035, its highest level since late-May 2024

** Metal explorer signs binding term sheet to buy up to 100% interest in Nimba gold project in Liberia from London-listed Hamak Gold's HAMA.L unit

** Also intends to raise A$1 million ($644,400.00) via a placement to fund acquisition

** Placement issue price at A$0.0035 per share, a 16.7% premium to stock's last close

** 2.5 million shares change hands vs 30-day avg volume of 1.9 million shares

** Stock up 75% YTD, including current session's moves

($1 = 1.5518 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))