Xingye Silver & Tin Mining Launches AU$38-Million Takeover of Far East Gold

MT Newswires Live

05/28

Inner Mongolia Xingye Silver & Tin Mining (SHE:000426) said its Hong Kong subsidiary has launched a voluntary full takeover offer for ASX-listed Far East Gold (ASX:FEG).

The offer price of AU$0.13 per share represents a total consideration of AU$38 million, according to a Thursday filing with the Shenzhen bourse.

Far East Gold holds six exploration-stage mining projects across Indonesia and Australia.

Shares of the mining company were down 4% in recent trade.

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