Kalimantan Gold (TSX & AIM: KLG) confirmed that it had raised C$1.1 million in a non-brokered placement of 11 million shares at 10 cents per share
Kalimantan picked up two significant new shareholders. Australian based Macquarie Group purchased 3 million shares while San Francisco based Passport Capital purchased 5 million shares. The remaining 3 million shares were placed with several UK based investors.
"It's a very good result in a challenging market place and the placement was significantly oversubscribed. Energy and in particular coal projects are currently attracting considerable interest around the world and we look forward to working with investors such as Macquarie and Passport as we progress our portfolio of coal
Projects” said Rahman Connelly, CEO of Kalimantan Gold.