28/11/2012 (Proactive Investors Australia) - Killara Resources (ASX:KRA) has followed an earlier identical placement this month with another raising of $450,000 issuing 5,000,000 shares to an Indonesian family business at $0.09 each.

The strategic investor has substantial business interests in Indonesia spanning palm oil and coal mining, with more than twenty years expertise in the palm oil and coal mining sectors.

At September quarter end, Killara had a cash balance of $1.37 million.

Killara was known to be in advanced discussions with regards to the acquisition/joint venture of two large early stage Coal projects in Kalimantan.

It was also continuing work with its local manganese joint venture partners to complete the environmental impact studies of its 80% owned concession SA in West Timor.