Far East Gold acquires 90% interest in Reedy Creek Project
Melbourne, Victoria
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February 28, 2024 03:00 PM Eastern Standard Time
Far East Gold Ltd (ASX:FEG) CEO Shane Menere joins Jonathan Jackson in the Proactive studio to discuss the details of the company’s recent acquisition of a 90% interest in the Reedy Creek Project, which the company has described as the ‘missing link’. Menere explains why this addition is crucial for the company and its strategic implications. He covers the proximity of the Reedy Creek Project to Newmont's Mount Coolon Project, highlighting the geological similarities and potential advantages this presents and discusses improvements in the commercial terms for Far East Gold's existing Australian projects, outlining the anticipated benefits. Menere also talks about the company's efforts to obtain exploration status from the Queensland government and the expected news flow to come rom both the company’s Indonesian and Australian assets.
“It was a strategic decision by Far East Gold to acquire the Reedy Creek tenement and now join Hill 212 and Bluegrass Creek into a large single project by securing the ‘missing link’ that covers the identified structural corridor between these projects," Menere said.
"We are excited by the current neighbouring exploration underway by Newmont for them to earn into the Mount Coolon area, reinforcing the remarkable prospectivity of our projects."
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Jonathan Jackson
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