Far East Gold (ASX:FEG) signs conditional share purchase agreement for idenburg gold project

Far East Gold Ltd (ASX:FEG) has announced the signing of a Conditional Share Purchase Plan (CSPA) with PT Iriana Mutiara Idenburg (IMI) for the acquisition of the advanced high grade highly prospective Idenburg gold project, a 95,280 Ha Contract of Work (CoW) located in Papua province of Indonesia. This agreement allows the Company to take an initial 51% ownership of Idenburg, subject to satisfaction of conditions precedent.

Executive Commentary on Idenburg Gold Project Acquisition

The Managing Director, Shane Menere, expressed his excitement about the acquisition, stating, 'The Idenburg acquisition catapults FEG into the realm of a Tier 1 world class asset holding portfolio. This is very exciting times for Far East Gold.'

Summary of Idenburg Gold Project Acquisition

Far East Gold (ASX:FEG) has signed a Conditional Share Purchase Agreement (CSPA) for the acquisition of the highly prospective 95,280 Ha Idenburg gold project in Papua, Indonesia. The company is set to take an initial 51% ownership of Idenburg, subject to satisfaction of conditions precedent. The project is located in a province hosting world class multi-million-ounce gold and copper deposits, and the acquisition positions FEG for rapid company-wide project development. The commercial terms outline the progression to 80% and 100% ownership, with milestone payments tied to future gold production. The Managing Director's positive outlook reflects the company's ambitions and goals for the Idenburg gold project.