Far East Gold Ltd (ASX:FEG, OTC:FEGDF) CEO Shane Menere talks with Proactive’s Tylah Tully about the company’s latest milestone.
The Foreign Investment Review Board (FIRB) has approved the second and third tranches of a funding agreement with strategic partner Xingye Gold (Hong Kong) Mining Company.
Menere explained the significance of Xingye, a global leader in precious metals and tin production, holding a 19.9% placement position in the company.
He highlighted how the partnership aligned with Far East Gold’s transition from exploration to production.
The Idenburg Project, Menere confirmed, has a JORC resource estimate of 540,000 ounces at 4.1 grams per tonne.
Menere emphasised that only 30% of the tenement had been explored, suggesting strong potential for future resource growth.
Far East Gold expects drilling to commence in early 2025, focusing on unlocking the project’s full value.
Additionally, Menere updated on the Trenggalek and Wonogiri projects, noting advancements in exploration and the potential for partnerships to bring them into production.