Kalimantan Gold raises fund to finance exploration, acquisition

Vancouver-based junior exoloration firm Kalimantan Gold Corporation Limited announced on Wednesday it has raised GBP394,000 from a non-brokered private placement financing in the United Kingdom.

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