Borneo's Gold Production at Ratatotok South Is in Line With Improved Extraction Rates
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BOTHELL, Jul 10, 2014 - Borneo Resource Investments Ltd. (
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.
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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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