AIM-listed Indonesia-focused mining company Kalimantan Gold has been granted a further extension of the Forestry Permit for its PT Kalimantan Surya Kencana (KSK) sixth generation contract of work.
The company reported that the extension covered all the priority areas sought when the application was made in autumn 2012. This included the Tumbang Huoi, Baroi and Mansur prospects, which the company said were historically three of the most prospective exploration targets within the contract of work.
Faldi Ismail, Chief Executive Officer of Kalimantan Gold, commented: "The granting of the Forestry Permit extension is a major development. It enables us to now test drill all of our targeted areas within the contract of work, and maximises the scope for a successful outcome to our substantial exploration program."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Kalimantan Gold's share price was up 6.45% to 4.12p at 09:44 on Thursday.
The 30 house price hotspots
While we have seen house prices sliding, these sought-after locations have seen prices jump by at least 5% over the previous 12 months
By John Fitzsimons Published
Working parents will be entitled to 15 hours free childcare for two-year-olds from next year
The government has extended free childcare hours to working parents of two-year olds but it won’t be automatic so make sure you don’t miss out
By Marc Shoffman Published