Highlights
- Far East Gold completed a preliminary scoping study on the Idenburg gold project in Papua, Indonesia.
- An independent expert found Xingye Gold's unsolicited takeover offer neither fair nor reasonable.
- A vendor breach notice and board challenges add to the uncertainty.
Far East Gold
, the gold explorer focused on Indonesia, has completed a scoping study on its Idenburg project while remaining in a public dispute with Xingye Gold (Hong Kong) Mining, whose unsolicited cash offer closed in July. That puts Far East Gold firmly in focus within the ASX Gold Stocks space.
What did the Idenburg study show?
The scoping study was framed as preliminary. The company told the market it has no reasonable basis to report production targets or forecast financial information under ASX rules. The study drew on a resource upgraded in May, classified entirely as Inferred, with the Sua deposit making up most of the ounces.
What does Far East Gold do?
Far East Gold is an ASX-listed gold explorer. Far East Gold sits outside the ASX 300, so its shares tend to move on company-specific news rather than flows tied to the main ASX Indices such as the All Ordinaries. Its most advanced asset is I...