Sep 30 2014
Borneo Resource Investments Ltd., (the "Company" or "Borneo") a mining company that mines gold and develops producing gold mining properties in Indonesia, today announced it has completed building its second processing area to extract gold from ore at its Ratatotok complex. The Company has also commenced production at this new heap leach processing area which has the capacity to process 5,000 metric tons of ore per month.
The Company's Ratatotok complex previously had one heap leach processing area that was already operating at full capacity processing 2,500 metric tons of ore per month. With an increase of its production capacity to a monthly total of 7,500 metric tons of ore, Borneo has tripled gold production capacity at its Ratatotok site to approximately 7 - 10 kilograms (245 - 350 ounces) of gold per month.
"This additional capacity enables us to leverage our operations at Ratatotok for a relatively small investment. The technology and low environmental impact of the heap leaching process enables us to scale up production capacity incrementally with minimal requirements for additional labor and materials," stated Borneo CEO, Nils Ollquist.
"We intend to continue to acquire high ore-grade properties adjacent to our existing operations as we scale up production and cash flow from operations. We anticipate this added capacity will increase the momentum in our current revenue and gross profit growth," 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.
Source: http://www.borneore.com/