Kalimantan Gold plans equity financing

Vancouver-based junior exploration firm Kalimantan Gold Corporation Limited announced Thursday it planned plans to raise a minimum of GBP 200,000 and up to GBP 400,000 from a non-brokered private placement financing in the United Kingdom.

The company intends to use the proceeds from the private placement to fund its ongoing Jelai gold exploration and coal acquisition programmes in Indonesia, as well as general working capital purposes, the company said.

Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture Exchange in Canada and on AIM in London. The Company is focused on exploration in Indonesia and currently has rights in two areas: the Jelai epithermal gold prospect in East Kalimantan and the KSK COW copper-gold porphyry prospects in Central Kalimantan. (alex)