Far East Gold (ASX:FEG) has announced that 1,200,000 unlisted performance rights have vested, and have been exercised into an equivalent number of fully paid ordinary shares.
These shares will be subject to 24 month escrow, and the company has complied with the Corporations Act 2001 (Cth), as well as Chapter 2M of the same Act and section 674.
The company is a gold and copper explorer with three projects in Indonesia and three in Australia, and is led by co-founder Justin Werner, MD of Nickel Industries (ASX: NIC).
It has recently achieved first-ever drilling in September 2022, with bonanza grade assay results of up to 119 g/t gold and 1,176 g/t silver.