BOTHELL, WA - February 6, 2014 - Borneo Resource Investments Ltd. (OTCQB: BRNE) (the "Company" or "Borneo"), 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.
About Borneo Resource Investments Ltd.
Borneo Resource Investments Ltd. (OTCQB: BRNE) is a mining company that mines gold and develops producing gold mines as well as coal mining properties in the Republic of Indonesia. Borneo's current assets include three 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.
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. Words such as "believe", "estimate", "will be", "will", "would", "expect", "anticipate", "plan", "project", "intend", "could", "should" or other similar words or expressions often identify forward-looking statements. All statements other than statements of historical fact are forward-looking statements, including, without limitation, statements regarding our outlook, projections, forecasts or trend descriptions. These statements do not guarantee future performance, and we do not undertake to update our forward-looking statements.
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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Related Links: http://www.borneore.com
Investor Relations Contacts:
Borneo Resource Investments Ltd.
R. Scott Chaykin
Corporate Profile, LLC
SOURCE: Borneo Resource Investments Ltd.