Far East Gold Ltd has received the final subscription of A$4.78 million from Xingye Gold Hong Kong Mining Company, completing a total strategic investment of A$14.67 million.
As a result, Xingye now holds a 19.99% stake in the company.
The investment strengthens Far East Gold’s financial position, supporting its 2025 exploration plans, with a primary focus on four potential Tier-1 assets.
The company described the transaction as a significant milestone and a key step in unlocking asset value. The recent Idenburg acquisition attracted interest from multiple strategic investors, with Xingye identified as the preferred partner for asset development.
All three investment tranches were priced at A$0.20 per share, representing a 47% premium to the July and August 2024 placement and share purchase plan.
Far East Gold has welcomed Xingye as a strategic partner and looks forward to progressing exploration efforts in 2025.