Far East Gold Ltd (ASX:FEG) Announces Strategic Investment Approval
Funding Approval
Far East Gold Ltd (ASX: FEG) announced that it has received confirmation from the Foreign Investment Review Board (FIRB). The FIRB has no objections regarding Tranche 2 and Tranche 3 funding under a conditional share placement agreement with Xingye Gold Mining Company. This approval addresses all conditions related to Tranche 2. However, Tranche 3 remains contingent on shareholder approval at the upcoming Extraordinary General Meeting on 29 November 2024.
Future Development
In light of this milestone, Far East Gold plans to issue shares for Tranche 2 and Tranche 3, pending further shareholder endorsement. CEO Shane Menere stated, “This is another significant milestone which Far East Gold has achieved this year.” He emphasised that collaborating with a successful precious metals producer underlines the potential of FEG’s assets while providing a clear pathway towards project development in 2025.
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