Far East Gold Ltd (ASX:FEG)

The Third Supplementary Target's Statement issued by Far East Gold Ltd (FEG) on 27 July 2026 addresses the unsolicited takeover bid by Xingye Gold (Hong Kong) Mining Company Limited. FEG's Independent Board Committee advises shareholders to reject Xingye's offer, citing that it is misleading and significantly undervalues the company. The statement highlights multiple reasons for rejection: Xingye's offer price of A$0.13 is far below the assessed value of A$0.324 – A$0.444 per share, and the assertion of FEG's pending insolvency is false. Additionally, the claim that no alternative proposals will emerge is speculative, and substantial interest in FEG's assets exists, evidenced by a non-binding Trenggalek proposal which is comparable to the value Xingye offers. The document also argues that Xingye's actions regarding mining licenses and contractual risks are misleading, and emphasizes that accepting Xingye's offer would mean selling shares at an undervalued price with no ability to participate in future opportunities. Consequently, shareholders are urged to do nothing and reject the bid.