Flagship Minerals (ASX:FLG) has received the second $1.3 million strategic investment tranche from global engineering, procurement and construction group Shandong Xinhai Mining Technology & Equipment, following the completion of Xinhai’s due diligence at the Pantanillo Gold Project in Chile.
The milestone follows a mid-December site visit by a five-member Xinhai technical delegation and subsequent approval by Xinhai's investment committee, bringing Xinhai's total strategic allocation to $2.5 million.
As part of the partnership, Xinhai will nominate senior representative and major shareholder Zhongyi (John) Zhang to join Flagship’s board in January 2026, providing mineral processing, engineering and mine construction expertise aimed at accelerating feasibility, funding and development pathways.