Mar 11 2014
Borneo Resource Investments Ltd. (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 has begun full production on its Ratatotok South gold property. Ratatotok South, which was acquired through Borneo's subsidiary PT Puncak Kalabat in December 2013, becomes the Company's second producing gold mine.
Two successful test runs were completed at Ratatotok South in January and February, setting the stage for full production to begin in March. Approximately 2,500 metric tons of high grade ore have been excavated in the last few weeks and positioned in the heapleach containment area. Up to three processing cycles will be run on the ore to extract all of the gold it contains. At the end of each processing cycle the ore enhanced carbon will be moved from the site to the Company's facilities in Manado for final processing.
"I am very pleased that we were able to move from acquisition, through the processing trials and to full production at Ratatotok South so quickly. Our team was able to fine tune the production process during the trials and our geologists supervised the excavation of a high grade ore body on the property for our first production run," commented Borneo CEO Nils Ollquist.
Mr. Ollquist went on to say, "Our geologists estimate the ore grade to be 2 to 3 grams of gold per metric ton. The estimated production output from 2,500 metric tons of ore for the first full production run is approximately 7 kg of 80% pure gold. Our intention is to continue to upgrade and refine our production capabilities and to expand our portfolio of high quality properties in the area."
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.
Source: http://www.borneore.com/