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Pan Asia Metals Ltd. ( (AU:FLG) ) has provided an announcement.
Flagship Minerals has received a second A$1.25 million strategic funding tranche from global mining EPC firm Shandong Xinhai, following completion of due diligence on the Pantanillo Gold Project and investment committee approval, with a Xinhai representative, major shareholder John Zhang, to join Flagship’s board in January to help drive feasibility, funding and mine construction plans. The company has also commenced baseline environmental studies after appointing Chilean consultancy Ambiental Y Sectorial to lead the Environmental Impact Assessment, targeting submission in early 2027, while Chile-based Bmining is finalising conversion of the existing 1.05Moz gold foreign estimate into a JORC 2012-compliant Mineral Resource within three to six weeks, positioning Pantanillo for an accelerated feasibility program and potential resource upgrade through further drilling and testwork in 2026.
More about Pan Asia Metals Ltd.
Flagship Minerals Limited is an ASX-listed resources company focused on developing the Pantanillo Gold Project in Chile’s Maricunga gold belt. The company is working to convert a substantial foreign gold resource estimate into a JORC-compliant Mineral Resource and advance the project through feasibility, environmental approvals and ultimately construction, targeting large-scale oxide gold production.
Average Trading Volume: 403,032
Technical Sentiment Signal: Buy
Current Market Cap: A$52.6M
Learn more about FLG stock on TipRanks’ Stock Analysis page.