BOTHELL (Yosefardi) – Borneo Resource Investments Ltd., a mining company that mines gold and develops producing gold mines in Indonesia, posted revenues of $380,000 in first quarter ending March this year, compared to no revenue in the same period of last year.
In first quarter of this year, the company operated two producing gold mines, Talawaan and Ratatotok South.
Borneo have moved into 2014 with four gold properties, two of which are now in production and the other two slated to begin production in the third quarter of 2014.
In January it acquired Ratatotok Southeast, a 15 hectare producing gold mine. This was a very strategic acquisition because Ratatotok Southeast is one of three contiguous properties Borneo now owns in one of the richest gold reserve areas in Indonesia, creating economies of scale in production in its mining operations.
Borneo currently also 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.