Far East Gold Ltd (ASX: FEG) has reaffirmed its rejection of the takeover approach from Xingye Gold (Hong Kong) Mining Company Limited, after independent adviser Lonergan Edwards & Associates issued a follow-up report maintaining its original conclusion that the proposal is neither fair nor reasonable.
The advisory firm's valuation of the company, ranging between roughly 32 and 44 cents per share, remains far above both the standing offer of 13 cents and the higher conditional price of 15 cents that would only apply if the bidder secures majority control by 21 July 2026. Directors argue the timing is deliberately opportunistic, coming just as the flagship Papua-based gold project nears completion of its scoping work and moves toward a feasibility study that could lift the company's stake to 80 percent. The adviser also dismissed the bidder's technical criticisms of several tenements as unsupported by independent analysis. Shareholders have been urged to take no action, with the offer period now running until late July.
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Independent Board Committee Rejects Xingye's Revised Bid, Calls Valuation Gap Unchanged
Far East Gold Ltd (ASX: FEG) has reaffirmed its rejection of the takeover approach from Xingye Gold (Hong Kong) Mining Company Limited, after independent adviser Lonergan Edwards & Associates issued a follow-up report maintaining its original conclusion that the proposal is neither fair nor reasonable.
The advisory firm's valuation of the company, ranging between roughly 32 and 44 cents per share, remains far above both the standing offer of 13 cents and the higher conditional price of 15 cents that would only apply if the bidder secures majority control by 21 July 2026. Directors argue the timing is deliberately opportunistic, coming just as the flagship Papua-based gold project nears completion of its scoping work and moves toward a feasibility study that could lift the company's stake to 80 percent. The adviser also dismissed the bidder's technical criticisms of several tenements as unsupported by independent analysis. Shareholders have been urged to take no action, with the offer period now running until late July.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au