Indonesia the next elephant gold find?

Some gold bugs say we have seen the last of the giant gold plays in the world and that its drying up all over. That's why when companies confirm 2 or 3 million ounces it gets a good boost on the market.It wasn't so long ago that Bre-X was bolstering massive claims in Indonesia that foiled some top companies and their executives into putting a lot of money behind the next elephant find. Well we all know how that turned out. I spent a lot of time consulting for mining companies and even ended up with 2 signed share certificates from Mr.Walsh himself. Might be worth something one day.


Well now it seems a lot of companies have decided to go in and poke around the jungle and take a risk on the areas south of the Bre-X claim as well as some other islands. Its ironic that some of these companies may be sitting on the very elephant gold strike that was dreamed about years ago.
Three smaller companies are there now and I want to touch on them and what they are doing since I have followed their stories for some time now. 


EAS started out slowly and was the first one to really have to deal with the disbelief that there is actually a legitimate gold play in Indonesia. The stock price slowly climbed from about 40-50 cents to well over $8 in a short period of time. The company has had some good success but one bad core sent a lot of investors running only to find themselves coming back and buying their shares back.


CTN seemed to have the same story unfolding and I watched and watched and they just didn't seem to get off the ground. That's not to say they won't in Q1 next year but for now they are adding to their claims and dealing with a shortage of qualified workers in Indonesia. I guess if your in this field this probably is not your top pick for working conditions. I think part of the delay also has to deal with the fact that their big initial claim that was supposed to set them apart from everyone else is very hard to get to and there has been more ground work than expected but that's just my guess. A private placement was done at $1 for 5 million shares and an additional 1 million shares at $1.25. That was months ago and I believe they are free to trade those now but it may be tough to find buyers when the company is talking about drilling being months away.


The last company is KLG.V they have a gold, copper and coal play and have been working on projects related to all 3. There stock price is at a very low 8 cents right now and I don't see that lasting much longer. The shares have been eaten up on the AIM and at one point $10 million worth of shares went through the AIM in a few hours with a 100% rise in the share price.  I like all 3 companies on the long term but given the float size of each company and the claims I am still scratching my head that KLG's shares are trading so low.

Check out the company web site. Ask the CEO a few questions hes quick to get back to you as well if you don't get through the first time. http://www.kalimantan.com/s/Home.asp