BOTHELL, WA–(Marketwired – Jul 10, 2014) – Borneo Resource Investments Ltd. (OTCQB: BRNE) (the “Company” or “Borneo”), a mining company that mines gold and develops producing gold mining properties in Indonesia, today announced that the latest production run at its Ratatotok South site has exceeded 2 kilograms of gold on a heap leach base of 2,500 metric tons of ore.
In announcing this result, Borneo CEO Nils Ollquist stated, “We have been steadily building our output levels from our first heap leach base since trials began earlier this year. This latest result confirms that our extraction rate is improving steadily as we fine tune the chemical mix and balance of the ‘irrigation’ process. Our second leach base which will have a capacity of 5,000 metric tons is scheduled for completion by the end of July and should be fully operational by August. This leach base will service all three of our Ratatotok properties.”
“For the balance of 2014 we are working towards bringing our two additional gold properties, at Ratatotok and Ratatotok Southeast, into production as we continue to assess additional gold properties for potential acquisition. We previously announced that we expect quarterly revenues and operating income to increase in the subsequent quarters of 2014 as better extraction rates, weather and efficiency at Ratatotok South are expected to lead to an increase in revenues and productivity. This most recent production run confirms this expectation,” Ollquist concluded.
About Borneo Resource Investments Ltd.
Borneo Resource Investments Ltd. (OTCQB: BRNE) is a mining company that mines gold and develops producing gold mining properties as well as coal mining properties in the Republic of Indonesia. Borneo’s current assets include four 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.
