Key Developments: Kalimantan Gold Corporation Ltd (KMGLF.PK)
0.05USD
9 Apr 2013
$-0.03 (-33.95%)
$0.08
$0.05
$0.05
$0.05
10,000
242
$0.11
$0.05
Latest Key Developments (Source: Significant Developments)
Kalimantan Gold Corporation Ltd. Closes Private Placement
Kalimantan Gold Corporation Ltd. announced that it has closed a private placement and issued 6,000,000 common shares at a price of USD0.08 or GBP0.05 per share to raise USD480,000 (GBP300,000) under its private placement financing announced on April 23, 2012 and May 8, 2012. The common shares issued are restricted from trading in Canada through the TSX Venture Exchange until September 10, 2012. The proceeds of the placement, combined with the funds on hand, provide the Company with sufficient working capital to fund operations for 2012 and beyond. Full Article
Kalimantan Gold Corporation Ltd. Confirms Commitments To Private Placement
Kalimantan Gold Corporation Ltd. announced that it has received commitments from investors for 6,000,000 common shares at a price of USD0.08 or GBP0.05 per share to raise USD480,000 (GBP300,000) under its private placement financing announced on April 23, 2012. 800,000 new shares will be issued in Crest. The 5,200,000 shares issued outside of the Crest system in London will have a hold period of four months plus a day from the date of issue. The Company intends to use the proceeds from the private placement to fund its ongoing programs in Indonesia, as well as general working capital purposes. The proceeds of the placement, combined with the funds on hand, provide the Company with sufficient working capital to fund operations for 2012 and beyond. Full Article
Kalimantan Gold Corporation Ltd. Plans Private Placement
Kalimantan Gold Corporation Ltd. announced that it plans to raise up to GBP300,000 from a non-brokered private placement financing from the sale of up to 6,000,000 common shares at a price of GBP0.05 or USD0.08 per share. Insiders may participate in the private placement and the Company may pay finder's fees up to TSX Venture Exchange allowable limits. The Company intends to use the proceeds from the private placement to fund its ongoing programs in Indonesia, as well as general working capital purposes. Full Article
Kalimantan Gold Corporation Ltd. Secures Jelai Forestry Permit
Kalimantan Gold Corporation Ltd. announced that the Minister of Forestry has granted PT Jelai Cahaya Minerals a borrow to use exploration permit for its 100%-owned, Jelai Gold project in north eastern Kalimantan. The permit authorizes the Company to conduct exploration activities over the Mewet and 10 other of the 12 Jelai Gold prospects, comprising 4,675 hectares of the 5,000 hectare IUP and is valid for two years. This fulfills the outstanding condition for the Company's Joint Venture agreement to take effect with Tigers Realm Minerals Pty Ltd (Tigers Realm). As announced on February 15, 2011, pursuant to an option agreement Tigers Realm has the right to earn up to a 70% interest in the Jelai Gold project by meeting certain project expenditure obligations and completing a bankable feasibility study by June 2, 2015, the expiry of the IUP. Tigers Realm's proposed drill program expenditure is USD2 million over the first 18 months with approximately 8,000m of drilling at the Mewet Prospect planned. Full Article
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