INTERIM REPORT FOR BUKIT IBAM GOLD PROSPECT AT MUKIM KERATONG, PAHANG Borneo Oil Berhad (“BOB”) is pleased to announce that its wholly-owned subsidiary, Borneo Oil & Gas Corporation Sdn Bhd (“BOG” or “the Company”), has completed the interim exploration works on Zones D and H at Bukit Ibam Gold Prospect and an Interim Report has been prepared and signed off by a “Competent Person”. This announcement is based on an Interim Report that is not in accordance with the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves “JORC Standards”.
The overall potential for this combined area is estimated to be 400,000 tons of ore containing approximately 200kgs of gold with an average grade of between 0.3 and 0.5 g/t Au.
THE ADDITIONAL GOLD MINING LEASE ACQUIRED BY BORNOIL
On 7 th May 2021 Bornoil (BOG) entered into a new mining area following the approval of a New Mining Lease pursuant to the Exclusive Production Sharing Agreement (EPSA) signed on the 11 March 2015 with HDL Global Sdn Bhd. The said new mining lease was part of the mining area measuring approximately 1,200 hectares (3,000 acres) at an area known as Blok A,SKC(H), 1/2001, Hutan Simpan Bukit Ibam Mukim Keratong, Daerah Rompin, Pahang, contracted to HDL by Perbadanan Kemajuan Negeri Pahang on 21st May 2010.
BOG is currently conducting mining works at a mining lease measuring 187 hectares (462.08 acres) and the new mining lease will add another 175.04 hectares (432.53 acres) for the company’s gold mining operations.
BENEFITS OF THE NEW GOLD MINING LEASE TO BORNOIL
The New Mining Lease of 175.04 hectares (432.53 acres) is adjacent to BOG’s Existing ML area of 187 hectares (462.08 acres) BOG will have a total mining area of 362.04 hectares (894.53 acres) at Mukim Keratong, Daerah Rompin, Pahang.
BOG has also recently acquired an interest in a company known as Ratna Pura Sdn Bhd which owns a mining lease measuring 194.14 hectares (479.73 acres) also located at Mukim Keratong, Daerah Rompin, Pahang.
With this New Mining Lease, BOG will operate a combined mining area of 556.18 hectares (1,374.26 acres) at Mukim Keratong, Daerah Rompin, Pahang and at the same time continue exploratory works on the remaining 837.96 hectares (2,070.64 acres) of the Mining Area pursuant to the EPSA.
BOG is able to leverage its expertise on the Mining Area with its present domain knowledge of Mukim Keratong and will also save on the deployment of equipment and machineries to the adjacent New Mining Lease for Mining Works.
" The overall potential for this combined area is estimated to be 400,000 tons of ore containing approximately 200kgs of gold with an average grade of between 0.3 and 0.5 g/t Au. "
Bornoil got found 200 kgs of GOLD !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
036 (BORNOIL) Additional Listing Announcement /Subdivision of Shares 13-05-2022 11:46:39
Additional Listing Announcement /Subdivision of Shares 1. Details of corporate proposal Whether the corporate proposal involves the issuance of new type and new class of securities? N Types of corporate proposal : ESOS Details of corporate proposal : Exercise of Share Options No. of shares issued under this corporate proposal : 22,000,000 Issue price per share ($$) : 0.0230 Par Value ($$) (if applicable) : 0.000 Latest issued share capital after the above corporate proposal In the following Units : 8,233,117,079 Issued Share Capital ($$) : Malaysian Ringgit (MYR) 630,141,979.000 Listing Date : 17/05/2022 Remarks: Hmmmm......
Pursuant to Paragraph 10.06 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad, the Board of Directors of Borneo Oil Berhad ("BOB") wishes to announce that BOB has on 17th May 2022 entered into a Sale of Shares Agreement ("SSA") with MT 23 Resources Ltd for the acquisition of 28,361,208 Ordinary Shares representing 22.49% of the existing equity interest in Makin Teguh Sdn Bhd ("MTSB") for a purchase consideration of RM73,558,063.00.
Please refer to the attachment for further details of the Acquisition. This announcement is dated 17th May 2022.
======== Continue to monitor Directors utilization of company fund Directors plan to issue shares to raise more fund
@UncleFollower.... YES... It said the purchase consideration of RM73.56 million, arrived at a "willing buyer, willing seller" basis, will be satisfied by way of treasury share transfer and cash from internally generated funds.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
OKU_2020
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Posted by OKU_2020 > 2022-04-26 05:27 | Report Abuse
Gold Back Below $1,900; Dollar Flies as Fed Plans to Double Down on Rate Hikes
getting worst