Kalimantan Gold Board Changes and Option Grant
04 July 2013 - 4:00PM
Business Wire
Kalimantan Gold Corporation Limited (the "Company" or “KLG”) is
pleased to announce that it has appointed Dr. Peter John Pollard as
Chairman of the Board and as a Director. Dr. Pollard, who is aged
60, has consulted widely on porphyry copper-gold and iron oxide
copper-gold deposits. He has worked on some of the world's major
porphyry copper-gold deposits including Grasberg (Indonesia),
Escondida Norte (Chile) and Oyu Tolgoi (Mongolia). In addition, he
has consulted on porphyry exploration programs in Australia, China,
Indonesia, Iran, Kazakhstan, Mongolia, Peru, U.S.A. and Vietnam.
Dr. Pollard is a consulting economic geologist with more than 20
years’ experience and has been a technical advisor to the Company
and the Company’s Qualified Person for the purposes of signing off
on NI 43-101 technical data for the past several years. As a result
he is intimately familiar with the Company and its projects. He
holds a PhD from James Cook University, Australia and is a Member
of the Australasian Institute of Mining and Metallurgy and a Fellow
of the Society of Economic Geologists. Prior to his appointment,
Dr. Pollard owned 49,052 common shares and had 150,000 stock
options in the Company. Dr. Pollard’s status is as an independent
director.
Dr. Pollard is currently also a director of Pollard Geological
Services Pty Ltd, Hunter Bay Minerals Inc., G4G Resources Ltd and
Mind2Market Pty Ltd. He was previously a director of Journey
Resources Ltd.
The board change was facilitated following a request by Rahman
Connelly to resign from the Board to pursue other interests. The
Board of Directors takes this opportunity to thank Mr. Connelly for
his unstinting support in all his past roles and particularly in
leading the Company as Chief Executive and negotiating the current
KSK copper joint venture with a subsidiary of Freeport McMoRan
Exploration Company. The Directors wish him well in his next
venture. Mr. Connelly will remain as an advisor to the board.
Peter Bojtos will remain on the Board as a non executive
director. The Board of Directors takes this opportunity to thank
Peter for his time as Chairman and the commitment he brought to the
Chairman’s role.
Mr. Connelly commented, “Having spent 12 years as a Director of
the Company, including six years as it’s CEO, it’s time to move on
as I have fresh business commitments to attend to and, from the
Company’s perspective, the appointment of Peter Pollard will bring
with it a flow of new ideas and perspectives which, as a holder of
a significant number of KLG shares, I welcome. During my time with
KLG I have worked with a marvellous team of people, all of whom I
have learnt from and take this opportunity to say a big ‘thank you’
to each and every one of them.”
Pursuant to the Company’s shareholder approved Stock Option Plan
(the “Plan”), the Directors granted 2,000,000 Incentive Stock
Options (“Options”) to Directors and granted 3,950,000 Options to
employees and consultants on a total of 5,950,000 shares of the
Company’s capital stock, exercisable between July 1, 2013 and July
1, 2018 at a price of $0.10 per share, being the minimum price
allowable under TSX Venture Exchange rules. The options granted
will be subject to any applicable regulatory hold periods.
The number of Options granted to the Directors subject to these
arrangements and their resultant beneficial interests in the
capital of the Company are as follows:
Director
Number Optionsgranted July 1, 2013
Total Optionsgranted pursuant toPlan
Number of commonshares held
Faldi Ismail 500,000
2,300,000 5,106,000 Peter Pollard 300,000
450,000 49,052 Peter Bojtos 400,000 950,000 287,656 Pudji Purbo
300,000 300,000 - Doris Meyer 500,000
1,150,000 941,134
2,000,000
5,150,000
6,383,842
For further information please contact:
Kalimantan GoldFaldi Ismail, +61 (0) 423 206 324Deputy
Chairman and CEOfaldi.ismail@kalimantan.comorGerald Cheyne, +44 (0)
2077311806 / +44 (0) 7717473168Director Corporate
Developmentgerald.cheyne@kalimantan.comorVSA Capital
LimitedKatrina Damouni/ Peter Damouni, +44 20 3005 5005/ +44 20
3005 5007pdamouni@vsacapital.comorRFC Ambrian LimitedStuart
Laing, +61 8 9480 2506KLG's Nominated
Adviserstuart.laing@rfcambrian.com
About Kalimantan Gold
Kalimantan Gold Corporation Limited is a junior exploration
company listed on both the TSX Venture Exchange in Canada and on
AIM in London. The Company has two exploration projects in
Kalimantan: the Jelai epithermal gold project in East Kalimantan
and the KSK Contract of Work in Central Kalimantan with potential
for multiple porphyry copper and gold prospects. For further
information please visit www.kalimantan.com
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.
Kalimantan GoldFaldi Ismail, +61 (0) 423 206 324Deputy
Chairman and CEOfaldi.ismail@kalimantan.comorGerald Cheyne, +44 (0)
2077311806 / +44 (0) 7717473168Director Corporate
Developmentgerald.cheyne@kalimantan.comorVSA Capital
LimitedKatrina Damouni/ Peter Damouni, +44 20 3005 5005/ +44 20
3005 5007pdamouni@vsacapital.comorRFC Ambrian LimitedStuart
Laing, +61 8 9480 2506KLG's Nominated
Adviserstuart.laing@rfcambrian.com
(TSXV:KLG)
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