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Kalimantan Gold plans new fundraising through private share placing
25 November 2009
Kalimantan Gold is planning to raise up to £350,000 from a private placing of shares priced at 0.029p per share. The company intends to use the proceeds from the deal to fund its ongoing gold and coal exploration programs in Indonesia, as well as general working capital purposes.
Kalimantan Gold is a junior exploration company listed on both the TSX Venture Exchange in Canada and on the London AIM market. The company is active in Indonesia where it has three areas of interest: the Jelai epithermal gold prospect in East Kalimantan; coal opportunities, also in East Kalimantan and a Contract of Work in Central Kalimantan with multiple porphyry copper and gold prospects.
Two weeks ago it reported that analysis of geophysical data from its Contract of Work project in Central Kalimantan had confirmed the potential for major porphyry copper deposits.
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Kalimantan Gold
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