Borneo Resource Investments has commenced construction of a 10,000 tonne leach pad on the recently acquired property adjacent to the original 2500 tonne facility at the Ratatotok processing area. Trial production on the new pad is anticipated later this month with a projected output of 4-6kg of 99% pure gold, valued, at current prices, at between US$160,000 and $240,000.
Site clearing work was expected to be completed by mid-January, following which the leach pad and associated infrastructure, including plumbing, carbon processing facilities and tailing ponds, were to be assembled.
Borneo Resource Investments CEO Nils Ollquist said: “Having established the bona fides of the ore quality on both the Ratatotok properties, we are now making a sustained effort to build production levels to maximize our return from these investments.
“Following the successful trial of the first 10,000 tonne pad, we will construct a second 10,000 tonne facility immediately adjacent. We will also complete the upgrade of the original 2500 tonne pad to 5000 tonnes. On completion of this expansion program, we will be employing a total of 30,000 tonnes of capacity for each three week production cycle. With a tested average ore grade of over 2 grams/tonne, output from the upgraded facilities should approximate 10-15kg per month, or around $400,000 to $600,000 additional monthly revenue.”
Borneo Resource Investments is a mining company that mines gold and develops producing gold mining properties as well as coal mining properties in the Republic of Indonesia. Its current assets include four 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.