Kalimantan Gold New CEO
21 Avril 2011 - 8:00AM
Marketwired
Kalimantan Gold Corporation Limited (the "Company") (TSX VENTURE:
KLG)(AIM: KLG) is pleased to announce the appointment of Faldi
Ismail to the post of Deputy Chairman and Chief Executive Officer
to replace Rahman Connelly in that position.
Mr. Connelly successfully negotiated joint venture agreements on
the Company's two main assets - the Jelai Gold project and the KSK
Contract of Work in Kalimantan, Indonesia. The Company is very
grateful to Mr. Connelly for his time and efforts over his tenure
in this position and is glad of his willingness to stay on as a
director and remain involved with the Company.
Mr. Ismail joined the Company as a director in September 2009.
Mr. Ismail has specialised in the restructure and recapitalisation
of a wide range of Australian Securities Exchange ("ASX") listed
companies. He has also been instrumental in establishing a number
of new listings on the ASX (with a specific focus in the resources
sector) and has been very active in the Indonesian resources sector
over the past years. Mr. Ismail, like Mr. Connelly, resides in
Australia where he is currently a director of several ASX-Listed
resource companies. Mr. Ismail's energy will be called upon to
guide the Company through this next new and exciting phase of the
Company's life of investigating new property and acquisition
opportunities while overseeing the management of the work programs
on the Company's Jelai Gold project by Tigers Realm Minerals Pty
Ltd. and the KSK CoW porphyry copper/gold project by
Freeport-McMoRan Exploration Corporation.
For the first time since 2008, pursuant to the Company's
shareholder approved Stock Option Plan, the Directors have granted
Incentive Stock Options to Directors, employees and consultants on
4,875,000 shares of the Company's capital stock, exercisable for up
to five years at a price of $0.12 per share, which price is the
last closing price of the Company's shares prior to the date of
grant. The options granted will be subject to any applicable
regulatory hold periods.
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.
This news release contains forward-looking statements that are
based on the Company's current expectations and estimates.
Forward-looking statements are frequently characterized by words
such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "suggest", "indicate" and other similar
words or statements that certain events or conditions "may" or
"will" occur. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that could cause
actual events or results to differ materially from estimated or
anticipated events or results implied or expressed in such
forward-looking statements. Such factors include, among others: the
actual results of current exploration activities; conclusions of
economic evaluations; changes in project parameters as plans
continue to be refined; possible variations in ore grade or
recovery rates; accidents, labour disputes and other risks of the
mining industry; delays in obtaining governmental approvals or
financing; and fluctuations in metal prices. There may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. Any forward-looking statement
speaks only as of the date on which it is made and, except as may
be required by applicable securities laws, the Company disclaims
any intent or obligation to update any forward-looking statement,
whether as a result of new information, future events or results or
otherwise. Forward-looking statements are not guarantees of future
performance and accordingly undue reliance should not be put on
such statements due to the inherent uncertainty therein.
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.
Contacts: Kalimantan Gold Corporation Limited Faldi Ismail
Deputy Chairman and CEO Mobile: +61 (0) 423 206 324
faldi.ismail@otsana.com Kalimantan Gold Corporation Limited Gerald
Cheyne Director Corporate Development 44 (0) 2077311806 OR Mobile:
44 (0) 7717473168 gerald.cheyne@kalimantan.com Alexander David
Securities Limited Bill Sharp OR David Scott 44 (0) 20 7448
9820
(TSXV:KLG)
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