Borneo Resource Investments Completes First Full Scale Production Test Run at Its 2nd Producing Gold Mine
06 Fevereiro 2014 - 10:15AM
Marketwired
Borneo Resource Investments Completes First Full Scale Production
Test Run at Its 2nd Producing Gold Mine
Ratatotok South Was Acquired in December 2013 and Is
Contributing Revenues in Q1 2014
BOTHELL, WA--(Marketwired - Feb 6, 2014) - Borneo Resource
Investments Ltd. (OTCQB: BRNE) (the "Company" or "Borneo"), a
mining company that mines gold and develops producing gold mines as
well as coal mining properties in Indonesia, today announced it is
actively mining its Ratatotok South gold property and has
successfully completed its first full scale production test run
there. Ratatotok South was acquired by Borneo in December 2013,
through its subsidiary PT Puncak Kalabat. This is the Company's
second producing gold mine. Borneo commenced mining gold at its
first producing mine, Talawaan, in June of 2013.
Borneo CEO Nils Ollquist commented, "Based on the results of our
production test run, we expect to complete two processing runs per
month on a regular basis at Ratatotok South. We are very encouraged
by the productivity at the mine. The infrastructure and equipment
that came with the property when we purchased it played a key role
in accelerating our time to production. A primary driving
operational goal for us is to begin producing as soon as is
feasible on each of our newly acquired gold mines. Clearly, we've
demonstrated our ability to achieve that."
The 8.5 hectare Ratatotok South property is located in the
middle of a well-established gold reef structure. It is adjacent to
Ratatotok Southeast, which Borneo acquired, also through its
subsidiary PT Puncak Kalabat, in January 2014 and Ratatotok, which
was acquired in March of 2013.
About Borneo Resource Investments Ltd. Borneo Resource
Investments Ltd. (OTCQB: BRNE) is a mining company that mines gold
and develops producing gold mines as well as coal mining properties
in the Republic of Indonesia. Borneo's current assets include three
gold properties, two of which are producing gold. Cash
flow-producing investments in gold properties help fund Borneo's
operations and investments in gold, while the Company develops high
value, longer-term investments in thermal "coal concessions," which
are properties that can be mined for coal. Borneo currently has one
coal concession in the Borneo region of Indonesia. Indonesia was
the 8th largest gold producing nation in 2012 and the world's
largest exporter of coal, with $25 billion exported in 2012.
Forward-Looking Statements This press release contains
forward-looking statements within the meaning of the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and federal securities laws. Words such as "believe", "estimate",
"will be", "will", "would", "expect", "anticipate", "plan",
"project", "intend", "could", "should" or other similar words or
expressions often identify forward-looking statements. All
statements other than statements of historical fact are
forward-looking statements, including, without limitation,
statements regarding our outlook, projections, forecasts or trend
descriptions. These statements do not guarantee future performance,
and we do not undertake to update our forward-looking
statements.
For example, we are using forward looking statements when we
discuss the indications that estimate the potential revenue that
may be generated from this property. These forward-looking
statements are based on the current expectations of the management
of Borneo Resource Investments Ltd. only, and are subject to a
number of factors and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. The following factors, among others, could cause actual
results to differ materially from those described in the
forward-looking statements: changes in the price of natural
resources, a change in the estimate of natural resources on our
concessions, a change in the ability to extract the natural
resources, changes in Indonesian law, risks associated with
counterparty default in any of our agreements and the ability to
acquire funding. Except as otherwise required by law, Borneo
Resource Investments Ltd. undertakes no obligation to publicly
release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect
the occurrence of unanticipated events.
Please join our email distribution list by contacting us at
ir@borneore.com.
Related Links: http://www.borneore.com
Investor Relations Contacts: Borneo Resource Investments Ltd. R.
Scott Chaykin CFO schaykin@borneore.com or Corporate Profile, LLC
Dilek Mir Managing Director 310-591-5619
Borneo Resource Investme... (PK) (USOTC:BRNE)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Borneo Resource Investme... (PK) (USOTC:BRNE)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024
