Gold mining company Borneo Resource Investments Ltd (OTCMKTS:BRNE) has been largely dormant in terms of news for many years. However, that did not stop the company’s stock from suffering from a strong selloff yesterday. The Borneo Research Investment stock tanked by as much as 45% as a result of the selloff yesterday and in this regard, it should be noted that it appeared completely random.
The last time any news emerged about the gold mining company was back in 2014. Due to the dearth of any news about the company it might be a good move to take a look at the news from all those year ago.
The company, which primarily operates in Indonesia, announced back on September 29, 2014 that it had been successful in completing the second processing area. Borneo Research Investment noted that the processing area is meant for the extraction of gold from the ore that was situated at the Ratatotok complex.
It might have been a fairly significant development for Borneo Research Investment but at the same time it should be remembered that it is highly unlikely that the events from September 2014 had any bearing on the selloff in the company’s stock yesterday.