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| | Mon Nov 30, 2009
Kalimantan's Third Quarter Report
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| | Attached are the Consolidated Balance Sheets, Consolidated Statements of Operations and Deficit, and Consolidated Statements of Cash Flows (unaudited - prepared by management) of Kalimantan Gold Corporation Limited (the "Company") for the nine months ended September 30, 2009. The Third Quarter Report is available for viewing on www.sedar.com or www.kalimantan.com.
The highlights of the third quarter and up to November 25, 2009 include:
- KSK CoW: airborne magnetic data re-processed using advanced inversion techniques identified multiple buried magnetic bodies that are coincident with surface geochemistry, geology and previous drilling results confirming the potential for major porphyry copper deposits within the KSK CoW.
- Jelai Gold project: in recent months four companies have completed comprehensive reviews of the project and advanced negotiations are underway with one potential partner
- IBP Coal project: advanced negotiations are in process for the sale of an 80% interest in the IBP Coal Concession
- Peter Bojtos, a director of the Company, was appointed non-executive chairman of the board upon the retirement and resignation of Murray Clapham as a director. Mr. Faldi Ismail was welcomed as a new director.
- On November 25, 2009 the Company's Broker, Alexander David Securities Limited, raised £350,000 from a private placement financing from the sale of 12,068,965 common shares at a price of £0.029 per share. Finders' fees on the private placement will be paid within TSX Venture Exchange guidelines. Subject to receipt of regulatory approval, the shares are scheduled to be issued on December 1, 2009 into the Crest system on the London Stock Exchange AIM market to settle for payment on December 14, 2009.
For further information please visit www.kalimantan.com or contact:
Rahman Connelly
Chief Executive Officer
+61 418116955 |
Gerald Cheyne
Corporate Development
+44 (0) 207 731 1806 |
Nick Cottam
Public Relations
+ 44 (0) 1394 384115 |
Alexander David Securities Limited
Bill Sharp/ David Scott
+44 (0) 20 7448 9820 |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
RFC Corporate Finance Ltd acts as KLG's Nominated Adviser for the purposes of its AIM listing, contact Stuart Laing, ph: +618 9480 2506 or email: stuartl@rfc.com.au.
KALIMANTAN GOLD CORPORATION LIMITED
See Nature of Operations - Note 1
CONSOLIDATED INTERIM BALANCE SHEETS
(a development stage company)
(In United States Dollars)
Approved by the Board of Directors
| /s/ Faldi Ismail |
/s/ Rahman Connelly |
| Faldi Ismail |
Rahman Connelly |
The accompanying notes form an integral part of the consolidated financial statements
KALIMANTAN GOLD CORPORATION LIMITED
See Nature of Operations -- Note 1
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS, COMPREHENSIVE LOSS AND DEFICIT
(a development stage company)
(In United States Dollars)
Approved by the Board of Directors
The accompanying notes form an integral part of the consolidated financial statements
KALIMANTAN GOLD CORPORATION LIMITED
See Nature of Operations -- Note 1
INTERIM CONSOLIDATED STATEMENTS OF OPERATIONS, COMPREHENSIVE LOSS AND DEFICIT
(a development stage company)
(In United States Dollars)
Approved by the Board of Directors
The accompanying notes form an integral part of the consolidated financial statements
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