As we continue with another particularly volatile trading week amidst a trade war, there are certain companies that are going to continue to be on the radars of investors, and one of those could be Borneo Resource Investments Ltd. (OTC: BRNE). On Monday, it hit the news wires after an announcement with regards to its subsidiary unit Silica Scientific Corporation.
The Announcement
Borneo Resource Investments announced yesterday that Silica Scientific had been successful in inking a mining agreement with the Suriname corporation Suku Passi. The agreement in question had been inked on February 1, 2025. As per the terms of the mining agreement, Silica Scientific would be awarded an exclusive license for the purpose of exploration, testing, washing, grading, sales, and export of silica sand from the Concession 815-A project of Suku located in Suriname.
Further Details
As per the provisions of the agreement, Silica Scientific would function as the contractor of Suku. It was also announced in the news release that Suku had as many as four concessions for gold as well as other minerals. It should be noted in this context that Silica Scientific had been involved in the removal of silica from the 9845-hectare concession in the past.
Management Quote
Mr. C. Robert Ripplinger, President of the Company, commented, “I am thrilled and humbled to be able to secure such a high-quality silica sand concession, especially for our first acquisition. What an incredible opportunity for us to begin operations and with people we have a great relationship with, in a part of the world we know well. This week we began shipping the auger drilling equipment from the USA for the sampling program and look forward to sharing the results in the future. We will utilize the results of the sampling program to prepare an NI43-101 on the asset that will indicate the value of the project.”
