Borneo Resource Investments Begins First Gold Production Run at Ratatotok South With 2,500 Metric Tons of High Quality Ore
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BOTHELL, Mar 10, 2014 - Borneo Resource Investments Ltd. (
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. (
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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.
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Investor Relations Contacts:
Borneo Resource Investments Ltd.
R. Scott Chaykin, CFO
schaykin@borneore.com or
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Dilek Mir, Managing Director
310-591-5619