Published On: Fri, Sep 5th, 2014

Borneo Resource Investments Ltd (OTCMKTS:BRNE): Announcement of 2Q14 Financial Results

On September 05, 2014, Borneo Resource Investments Ltd. (OTCMKTS:BRNE) announced its financial results for 2Q14 and 1H14 ended June 30, 2014.

Financial Highlights:

During 2Q14, revenues of the company were increased by 160 percent to $0.55 million as compared to 2Q13, and by 46 percent as compared to 1Q14 revenues. Gross profit of the company for 2Q14 was increased by 85 percent to $0.22 million as compared to 2Q13.

For 1H14 revenues of the company were increased by 341 percent to $0.94 million as compared 1H13. Gross profit of the company for 1H14 was increased by 212 percent to $0.37 million as compared to 1H13. As on June 30, 2014, total shareholders’ equity was around $1.47 million.

Operational Highlights:

During 2Q14 at Ratatotok complex the company reached full production capacity with 2,500 metric tons of ore processing. The company started second processing base for additional 5,000 metric tons of ore capacity during the quarter.

Borneo Resource Investments Ltd (OTCMKTS:BRNE)’s CEO, Nils Ollquist commented that increase in revenue and gross profit are due to operating yields at company’s Ratatotok complex which continues to improve and also the performance metrics at Talawaan, which are also progressive. By adding 5,000 more metric tons of processing capacity, the company is developing its Ratatotok complex. As expected, this additional capacity will come on line during the current quarter; the company will be in a position to start mining other parts of its larger Ratatotok complex. And the company expects that this will further increase its current growth trends in gross profits and revenues.

Company Brief:

A mining company, Borneo Resource Investments Ltd (OTCMKTS:BRNE) is engaged in mining gold and development of producing gold mining properties and coal mining properties in the Republic of Indonesia. Current assets of the company include four gold properties and out of these four gold properties, two are producing gold.

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