Kalimantan Gold (#KLG) - more upbeat exploration results
- 2015-07-17 00:11:54
UK 18:59 Monday, 26 October 2026
Breaking news and expert analysis on fast-moving AIM and LSE listed shares
Shares in volatile AIM loser Kalimantan Gold (KLG) have been showing flickering signs of life as the company reports ‘visual copper mineralisation’ in the first four holes drilled at its Beruang Karang Main (BKM) deposit in the Indonesian portion of Borneo. Based in British Columbia and also quoted on the Toronto Ventures Exchange, the company received its key permit to proceed only a matter of days ago and says it hopes to take BKM to the scoping study stage during 2015, having so far established an inferred resource estimate there of 47 million tonnes with 0.6% copper, for 621.7 million lbs of the metal.
All broker research should be 100% ignored said Tom Winnifrith earlier today HERE. But occasionally a broker produces a report indicating enough upside to make it worth a second read. VSA Resources last week published a speculative buy on Kalimantan Gold (KLG) at 1.53p with a target of 4.1p. Really?
Tony Manini, the Australian mining entrepreneur who has become chief executive of Indonesia-focused Kalimantan Gold (KLG), says he intends to take the volatile AIM-quoted company’s 622 million-lb. Beruang Kanan copper project into production at an annual rate of 20,000 tonnes within two and a half years before taking another copper venture, Kalimantan’s newly-acquired Beutong project in Sumatra, to the stage where it can deliver 80,000 tonnes of copper a year.
So second day back at school and today I will give you my thoughts on the Mining sector which really has had a torrid time for about 3 years now and you have to start thinking it cant keep falling forever..............but that also doesn't mean it is ready to be invested in.
Kalimantan Gold (KLG) has been a perennial jam tomorrow POS stock on the AIM Casino. Directors fees all round. Advisors fees all round. Placing after placing after frigging placing as it hypes up one target, raises cash, moves the goalposts and them raises cash again. All the time it is private investors who get screwed. Let me tell you about the placing it failed to do earlier this week.
Faldi Ismael, chief executive officer of Kalimantan Gold (KLG) says the company can now give prospective ‘partners and shareholders confirmation of the potential’ of its Beruang Kanan (BKM) project in the centre of the Indonesian island of Kalimantan (formerly Borneo) following delivery of a maiden inferred resource for the project. This suggests BKM’s main mineralised zone could hold some 4.7 million tonnes with an average of 0.6 per cent copper, for a potential resource of nearly 622 million lbs of copper.
Shares in perennial AIM non-performer Kalimantan Gold (KLG) spiked last week as broker VSA put out a buy note at 1.1p with a 4.8p target price. But I think VSA has got its maths wrong. I refer to the thorny little issue of cash. Or rather lack of it.
Cripes that seems a tad on the ambitious side does it not? Okay VSA is a retained broker to Kalimantan (KLG) but does analyst Paul Renken really reckon that the shares, now 1.05p, are worth 4.8p. It seems he does and Renken is a sensible fellow and has today published an incredibly detailed 15 page report arguing his case.
Kalimantan Gold (KLG) officially wins the prize of being the stock or market which is most oversold according to the RSI scale that I have ever seen. Indeed, the 0.7/100 reading is simply breath-taking even though this is a relatively illiquid stock and you would expect to see very high and low readings as a matter of course.
Kalimantan Gold (KLG) is listed on the TSX as well as the Cesspit and its quarterlies out today tell a familiar story.
