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Update: Far East Gold Continues to Recommend Shareholders Take No Action on Xingye Gold Offer; Shares Up 3%

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(Updates with the stock movement in the headline and last paragraph.)

Far East Gold (ASX:FEG) said Xingye Gold (Hong Kong) Mining dispatched a bidder statement for its offer to acquire all of the company's ordinary shares that it does not already hold for AU$0.13 each in cash, according to a late Thursday filing with the Australian bourse.

Far East Gold reiterated its recommendation that shareholders take no action on the off-market acquisition bid, saying that the offer is opportunistic in both its timing and pricing.

The company's shares rose past 3% in recent Friday trade.

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