Following successful completion of a test run, Borneo Resource Investments has commenced full production at its recently completed leach pad on the 8 hectare Ratatotok Gold Project in Sulawesi. The property was acquired by the company late last year.
The initial test results showed ore grades significantly higher than anticipated and the company is optimistic that the result for this run will be well in excess of 2kg of 99% pure gold.
Borneo’s CEO Nils Ollquist says, “We are pleased that the commitment, in terms of both investment and time, in our new production facilities will now start to add to our revenue base and offset the shortfall that arose from the write off of the Talawaan investment last year.
“All infrastructure at the new site has been developed turnkey, including levelling and constructing the leach pad itself and building associated facilities including tailing ponds, carbon filtration unit, power generation facilities, water access and plumbing, worker accommodation and security.
“We have refined our production process using the results of the trial run, including running soil testing on ore targeted for excavation and loading, and closer monitoring of the excavation and loading process itself, so that the loaded ore will be of a higher tonnage and of the highest grade.
“We have now created a workable and efficient template for construction, trial and commissioning of new heap leach production facilities.
“Our mining plan calls for completion of an additional 10,000 tonne pad adjacent to our newly completed site by August and to have a total of four large-scale operational leach pads by the end of October. When fully operational these four leach pads will have a targeted output of around 17.5kg of 99% pure gold per 6-7 week cycle. Against this background, we look forward to strong financial results for the balance of the year.”
Borneo Resource Investments is a company that acquires and develops gold mining properties in the Republic of Indonesia. Borneo’s current assets include gold producing properties in the province of Sulawesi which are mined through a low impact and low pollutive process known as heap leaching.