BOTHELL (Yosefardi) – Borneo Resource Investments Ltd., a mining company that mines gold and develops producing gold mining properties in Indonesia, reported that the latest production run at its Ratatotok South site has exceeded 2 kilograms of gold on a heap leach base of 2,500 metric tons of ore.
For the balance of 2014 the company is working towards bringing its two additional gold properties, at Ratatotok and Ratatotok Southeast, into production as it continues to assess additional gold properties for potential acquisition.
The company previously expected 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.
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.