KALIMANTAN GOLD
Kalimantan Gold Corporation Ltd (KGC) is an AIM and TSX-listed junior exploration company focused on exploration in Kalimantan, Indonesia where it has been active for a number of years. The company is exploring for gold and copper in two distinct areas of Kalimantan and is also seeking to acquire a number of coal prospects in the region.
In East Kalimantan, KGC is currently undertaking a 4,000 metre drill programme at its 100%-owned Jelai gold prospect and results to date indicate the potential for a major epithermal gold deposit. This has been confirmed by the economic geologist Dr Peter Pollard in an independent report on the project and the company expects to announce an inferred resource for Jelai in the next few months.
In Central Kalimantan KGC’s Contract of Work (CoW) has multiple copper porphyry prospects which, according to Dr Pollard, still have considerable untested potential. A number of companies have expressed interest in reviewing the KSK data with a view to signing a co-operation agreement.
In addition to its exploration work, KGC supports development in the villages surrounding its project areas through a Foundation, YTS. Villages are encouraged by YTS to plan for the future with the help of a Village Development Fund, the aim being to facilitate self help wherever possible.
Kalimantan Gold completes CDN1.1 million placing
Kalimantan Gold (TSX & AIM: KLG) confirmed that it had raised C$1.1 million in a non-brokered placement of 11 million shares at 10 cents per share
Kalimantan picked up two significant new shareholders. Australian based Macquarie Group purchased 3 million shares while San Francisco based Passport Capital purchased 5 million shares. The remaining 3 million shares were placed with several UK based investors.
"It's a very good result in a challenging market place and the placement was significantly oversubscribed. Energy and in particular coal projects are currently attracting considerable interest around the world and we look forward to working with investors such as Macquarie and Passport as we progress our portfolio of coal
Projects” said Rahman Connelly, CEO of Kalimantan Gold.
Other KALIMANTAN GOLD articles
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11/11/08 Kalimantan Gold gets encouraging initial resource estimate from Jelai gold project vein
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12/05/08 Kalimantan Gold – Audio Interview Transcript
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03/12/07 Developing a pipeline of projects
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25/07/07 Kalimantan Gold: Report from the front line.
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24/07/07 Report from the front line.
Other KALIMANTAN GOLD news
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17/11/08 Kalimantan Gold signs option on coal opportunity in Indonesia
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10/10/08 Kalimantan Gold consolidates copper-gold porphyry project
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29/09/08 Kalimantan Gold intercepts More High-Grade Gold at Jelai Gold Project
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28/07/08 Kalimantan Gold expects maiden resource estimate for Jelai Gold Project by October
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19/05/08 Kalimantan Gold plans to top up its coffers
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15/04/08 Kalimantan Gold commences deep drilling at Jelai Gold
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25/03/08 Kalimantan Gold adds to senior management
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26/02/08 Kalimantan Gold director snaps up shares
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28/01/08 Kalimantan Gold still sees untested potential