Kalimantan Gold closes private placement

Coal and metal exploration firm Kalimantan Gold Corporation Limited announced on Thursday that it has raised C$1,290,000 from a non-brokered private placement financing.

The company intends to use the proceeds to fund its ongoing projects 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.(alex)