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Far East Gold Ltd (ASX:FEG)

ALERT: Price-sensitive ASX Announcement for FEG
Current share price for FEG : $0.135 -0.025 (-15.63%)+
Announcement
Release
22 Jun 2026 8:16AM
Price at Release
$0.160
Full Release
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Summary
Far East Gold Limited has announced that it achieved a significant milestone by moving to a 51% ownership stake in the Idenburg Gold Project through the completion of Stage One of the Conditional Share Purchase Agreement. The project, located in Papua Province, Indonesia, hosts a substantial inferred mineral resource and presents a clear pathway to increase ownership to 80% upon successful completion and acceptance of the forthcoming Indonesian Feasibility Study. The company is focused on advancing its Scoping Study and aims to finalize the feasibility study by the fourth quarter of 2026, thereby strengthening its strategic position and value for shareholders.
Key Points
  • Far East Gold Limited has completed Stage One of the Conditional Share Purchase Agreement (CSPA) to acquire the Idenburg Gold Project, reaching 51% ownership.
  • The Idenburg Gold Project hosts an inferred mineral resource of approximately 780,000 ounces of gold at an average grade of 3.1 g/t.
  • The company issued AUD $6.5 million worth of shares to Eloquent Enterprises Limited as part of the agreement.
  • A clear pathway to 80% ownership is established, contingent upon the completion and acceptance of the Indonesian Feasibility Study by Q4 2026.
  • The Scoping Study for the Idenburg Project is well advanced and under final review.
  • The completion of the Stage One Earn-In Expenditure exceeded AUD $5,000,000.
  • The company aims to lodge the Feasibility Study documentation with the Indonesian Ministry of Energy and Mineral Resources (ESDM).
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.