Borneo Resources names Grace as new member of its board of directors
Saturday, June 15 2013 - 06:03 AM WIB
US firm Borneo Resource Investments Ltd reported on Friday the appointment of Grace Sarendatu as new member of its Board of Directors. Grace is a lawyer and notary with over 30 years of experience operating a legal and notarial practice in Minahasa Regency of Sulawesi Province.
Borneo Resource Investments Ltd. is an aggregator of proven precious metal and natural resource concession assets in the Republic of Indonesia.
Grace graduated with a Bachelor of Law degree from the University of Diponegoro in Java, Indonesia, prior to establishing her practice in the city of Manado.
She has been active in coordinating and orchestrating both merger/acquisition and licensing/concession transactions, particularly in the mining industry, in both Sulawesi and Kalimantan.
Grace has provided both legal and notary services to the company ever since Borneo Resources began operations in Indonesia,
Borneo Resource Investments also announced that on June 10, 2013 the company entered into agreements to purchase a 90% ownership interest in PT Puncak Kalabat, an Indonesia corporation (Kalabat).
Nils Ollquist Borneo's Chief Executive Officer commented, "The successful completion of these transactions is a significant milestone for Borneo. For the first time, the Company is in a position to report revenues from operations, which we expect to do this quarter. The acquisition of Kalabat provides a platform for the company to expand our precious metals project portfolio and reaffirms our plans to the expansion of our activities in the region."
Ollquist also said, "Grace Sarendatu has been a member of our team since we first began doing business in Indonesia. By her joining of our Board we are communicating our commitment to the Indonesian business community and further strengthen our relationships in the region."
Although our primary focus over approximately the last six months has been on aggressively pursuing the opportunities on the gold projects, we have not reduced our commitment to coal.
We are in the process of documenting the extension of the concessions for the coal properties currently in our portfolio, seeking additional concessions, and we are actively pursuing coal trading transactions."
Editing by Adianto P. Simamora