Borneo Resource Investments announced that it has begun full production at the Ratatotok South gold project in Indonesia. The property, which was acquired through Borneo’s subsidiary PT Puncak Kalabat in December 2013, becomes the company’s second producing gold mine.
Two successful test runs were completed at Ratatotok South in January and February, setting the stage for full production to begin in March. About 2,500 mt of high-grade ore have been excavated in the last few weeks and positioned in the heap leach containment area. Up to three processing cycles will be run on the ore to extract all of the gold it contains.
At the end of each processing cycle, the ore-enhanced carbon will be moved from the site to the company’s facilities in Manado for final processing.
“I am very pleased that we were able to move from acquisition, through the processing trials and to full production at Ratatotok South so quickly. Our team was able to fine tune the production process during the trials and our geologists supervised the excavation of a high-grade ore body on the property for our first production run,” said Borneo CEO Nils Ollquist.
Borneo Resource Investments’ current assets include three gold properties, two of which are producing gold.