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Far East Gold Ltd ( (AU:FEG) ) just unveiled an announcement.
Far East Gold has confirmed it will retain a 51% interest in the Woyla Project in Aceh, Indonesia, after failing to reach agreement with the vendor on a direct pathway to increase its ownership to 100% without completing a feasibility study. As no feasibility study has been started, the company will pause further exploration at Woyla for now.
Management said the decision reflects current market conditions and a strategic choice to prioritise funding and activity toward the Idenburg Project, which is seen as having a more immediate development pathway. Far East Gold will continue to work with the Woyla vendor to assess potential value-enhancing options for the project while maintaining exposure to any future upside through its existing stake.
The most recent analyst rating on (AU:FEG) stock is a Hold with a A$0.13 price target. To see the full list of analyst forecasts on Far East Gold Ltd stock, see the AU:FEG Stock Forecast page.
More about Far East Gold Ltd
Far East Gold Limited is an ASX-listed copper and gold exploration company with six advanced projects across Australia and Indonesia. The company focuses on identifying and progressing mineral assets with potential for near-term development in key regional mining jurisdictions.
Average Trading Volume: 190,241
Technical Sentiment Signal: Sell
Current Market Cap: A$49.55M
See more data about FEG stock on TipRanks’ Stock Analysis page.