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Far East Gold Ltd (ASX:FEG)

ALERT: Price-sensitive ASX Announcement for FEG
Current share price for FEG : $0.135 -0.02 (-12.90%)+
Announcement
Release
11 Jun 2026 12:08PM
Price at Release
$0.155
Full Release
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Summary
The document pertains to a takeover bid by Xingye Gold (Hong Kong) Mining Company Limited for Far East Gold Ltd (FEG). Xingye, through its wholly owned subsidiary, is offering to acquire all shares of FEG at $0.13 per share in cash. At the time of the bid, Xingye holds a 19.99% share in FEG. The offer addresses the declining market price of FEG shares, the stalled projects, and FEG's financial instability. Shareholders are urged to accept the offer to avoid risks associated with future capital requirements and potential dilution of shares. The Bidder's Statement outlines the offer's terms, conditions, and the associated risks if the offer is not accepted. The offer period commenced on 11 June 2026 and is set to close on 22 July 2026 unless extended.
Key Points
  • Xingye is offering $0.13 cash per FEG share.
  • Xingye holds 19.99% of FEG shares.
  • Offer addresses declining market price and financial instability of FEG.
  • Shareholders face risks of dilution and financial uncertainty if offer is not accepted.
  • Offer period is from 11 June 2026 to 22 July 2026.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.