Feb 10 2014
Borneo Resource Investments Ltd., 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.
Source: http://www.borneore.com/