Far East Gold Receives First A$6.4 Million Tranche of Investment from Xingye
Key Points
- Far East Gold has received the first A$6.4 million tranche of a A$10 million investment from private Chinese group Xingye.
- The investment will be used to fund the development of Far East Gold's flagship Hera project in New South Wales, Australia.
- The investment is a significant milestone for Far East Gold and will help to accelerate the development of the Hera project.
Background
Far East Gold is an Australian gold exploration and development company. The company's flagship project is the Hera project in New South Wales, Australia. The Hera project is a large-scale gold project with the potential to produce over 1 million ounces of gold.
Xingye is a private Chinese group with a diverse range of businesses, including mining, real estate, and financial services. Xingye has a strong track record of investing in mining projects in Australia.
The Investment
The investment from Xingye is a significant milestone for Far East Gold. The investment will allow the company to accelerate the development of the Hera project. The Hera project is expected to create jobs and boost the local economy.
The investment from Xingye is a vote of confidence in Far East Gold and the Hera project. The investment will help to ensure that the Hera project is developed in a timely and efficient manner.
The Future
Far East Gold is excited about the future of the Hera project. The company believes that the Hera project has the potential to be a world-class gold mine.
Far East Gold is committed to working with Xingye to develop the Hera project in a responsible and sustainable manner. The company is confident that the Hera project will benefit all stakeholders, including shareholders, employees, and the local community.