Ann: FIRM COMMITMENTS RECEIVED FOR $1.5M IN SHARE PLACEMENT, page-37

From all accounts, it was impossible to get any placement stock for this one.

Given it was done at 2.5c, and the SP has been extremely well supported today at 2.6/2.7c, IMO that story lines up well.

Sure, lots of people would have freaked & sold this morning, I would have also been one of them if it weren't for the overall macro gold environment space. Aussie Gold especially is super hot given AU price is over $2200/oz and just today we have media of large Chinese gold producers on the hunt for WA gold projects (st0ck head article).

Now I'm not saying they're going to acquire FAU, not by a long shot, but it shows that activity in the Aussie Spec gold space is heating right up.

The other thing, FAU already has a decent resource at a decent grade.

Current drilling is extension drilling which is looking to improve the size of the deposit - not exactly a bad thing...

Finally, the WA ground FAU finds itself situated in is surrounded by lots of larger Gold majors which, in this gold climate, would probably want to go on a 'land grab' ... Not saying definitely, but certainly a consideration.

I weighed all that up & decided to suck it up & hold. Even added some more at 2.7 this morning.