Borneo Resource Investments Ltd. Acquires 8,800 hectare Coal Concession
Company adds 6 million estimated metric tonnes of additional high-quality thermal coal reserves in South Kalimantan Province, Indonesia
Borneo Resource Investments Ltd. (BRNE.PK), announced today that it has signed an agreement to acquire 90% of BT Berkat Banua Masanggu which holds a 8,800 hectare (approximately 21,745 acres) thermal coal mining concession in the South Kalimantan Province, Indonesia. The concession contains estimated reserves of approximately 6 million metric tonnes of high-quality thermal coal.
Nils Ollquist, Chairman and CEO of Borneo commented, “Our ongoing efforts in the region continue to give us the opportunity to secure very attractive properties with high quality coal, thus enabling us to continue to expand the Company’s portfolio and increase shareholder value.”
About Borneo Resource Investments Ltd. (BRNE.PK).
Borneo Resource Investments Ltd., and through its wholly-owned subsidiary Interich International Limited, obtains mining concessions to explore and develop coal reserves primarily in the East Kalimantan and West Papua regions of the Republic of Indonesia.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and federal securities laws. For example, we are using forward looking statements when we discuss the indications that the value of our coal reserves. These forward-looking statements are based on the current expectations of the management of Borneo Resource Investments Ltd. only, and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: changes in the price of coal, a change in the estimate of coal on our concessions, an inability to extract the coal reserves and changes in Indonesian law. Except as otherwise required by law, Borneo Resource Investments Ltd. undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
BRNE: Disclosure: StockGuru entered into an investor relations consulting and market awareness contract with a third party investor relations company for coverage of Borneo Resource Investments Ltd. (OTCPK: BRNE). We hold not shares and will not be receiving any shares. To avoid all potential conflicts of interest, we never sell shares into the open market during an active market awareness or investor relations program. This means that as we release new information about a particular client company either on our site or otherwise authored by us, you can be confident we are not selling shares at the same time. StockGuru is not a registered investment adviser or a broker/dealer. StockGuru makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. We expect to be compensated up to ten thousand dollars for coverage. . In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk. StockGuru – 1601 Berwick Drive – McKinney, Texas 75070 – (469) 252-3031.