Hi  all,an issue raised by Goldbull22 Where the money went:...

 

 

Hi  all,

an issue raised by Goldbull22

 

Where the money went: Quarter 3 2018, July  1 to  Sep  30 2018:

 

FAU  Income  and  Expenditures  JULY 1  to  DEC  31  (estimated)   2018
Cash raise  through Capital Raising	EXPENDITURE  TYPES
June  30  2018 $6,216,000  less costs $5,880,000	Exploration & Evaluation	Administration & Corporate Costs
Q3 Cash & Cash Equivalents at Beginning of Period $5,124,000.00	Q3 $493,000	Q3 $650,000 Of which paid to directors and associates $163,000  -  25.1%	Q3  Interest Received $29,000.00
Q3 Cash & Cash Equivalents at End  of Period 4,033,000.00 Thus spent   $1,091,000	Q4 (estimated) $616,000	Q4 (estimated) $323,000

Source:  ASX  Cashflow 3^rd Quarter  September 30 2018, issued October  25   2018, 5 pages.

 

 

Those who, most likely,  influenced the selection of FAU’s initial tenements.

 

R. Develins ex Chairman of Atlas Iron – re:  Emu Creek Project (up to 70% farm in with Atlas Iron)

Denis & Damon O’Meara – WA prospectors for decades

Brian Richardson, exploration manager, expertise in the Pilbara and Eastern Goldfields region (Gimlet and Talga).

Brett Keillor, supporting geologist.

 

Source:  guesstimate from ASX:  July 17 2018  FAU Presentation, 15  pages.

 

 

Cheers

 

Bluequartz