Kalimantan Gold may get ?major? partner to develop copper prospect
Thursday, August 27 2009 - 05:39 PM WIB
Vancouver-based junior exploration company Kalimantan Gold Inc reported on Thursday that a major mining company is currently undertaking a detailed technical assessment as a possible step towards a joint venture on its Surya Kencana Contract of Work (KSK) copper prospect in Central Kalimantan.
It did not give detail.
Kalimantan Gold holds 100 percent stake in KSK, a 6th generation Contract of Work comprising a total of 38 mineral prospects within 941 sq km area.
The company also reported that a major company also recently undertook extensive desk and field due diligence on its Jelai epithermal gold project in East Kalimantan but subsequently offered inadequate joint venture terms.
?Therefore our current preferred route is to progress this project alone by initially developing a small scale mine, for which purpose we are considering various financing alternatives,? the company said.(denny)