Energy & Mining

Unusual Volume for Imperiled Borneo Resource Investments Ltd (OTCMKTS:BRNE)

Borneo Resource Investments Ltd (OTCMKTS:BRNE)

Shares of Borneo Resource Investments Ltd (OTCMKTS:BRNE) are up over 250% on volumes that are over 60 times their 30-day, daily average. The amount of volume is particularly interesting. Borneo Resource Investments Ltd (OTCMKTS:BRNE) is an aggregator of proven precious metal and natural resource concession assets in the Republic of Indonesia. However, the company currently has no operations and is in a dormant status. It is operating under a receivership order from the Nevada courts where it will present a corporate restructuring plan. Once the restructuring has been approved and completed the company will restart operations.

In the past Borneo Resource Investments Ltd (OTCMKTS:BRNE), according to reports, developed producing gold mining properties as well as coal mining properties in the Republic of Indonesia. Borneo Resource Investments Ltd (OTCMKTS:BRNE) assets included four gold properties, two of which were producing gold. Cash flow-producing investments in gold properties funded Borneo’s operations and investments in gold, while the company developed high value, longer-term investments in thermal “coal concessions,” – properties that can be mined for coal. Borneo Resource Investments Ltd (OTCMKTS:BRNE) reportedly has one coal concession in the Borneo region of Indonesia. Indonesia was the 8th largest gold producing nation in 2012 and the world’s largest exporter of coal, with $25 billion exported in 2012.

According to the company’s last regulatory filing, Borneo Resource Investments Ltd (OTCMKTS:BRNE) had accumulated a deficit of $16,505,665 as of March 31, 2015.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

About the author: James Marion is a University of Houston student studying Business with a concentration in Finance

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James Marion is a University of Houston student studying Business with a concentration in Finance. James has interned with several investment professionals and hopes to pursue a career as a professional stock analyst after graduation.

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