Borneo Triples Gold Production Capacity With Commencement of Production at New Ratatotok Processing Area
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NEW YORK, Sep 29, 2014 - Borneo Resource Investments Ltd. (
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. (
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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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