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Borneo Resource Investments Ltd (OTC: BRNE) Stock On Radar As It Acquires Majority Stake In

Pete Matthews

While there has been no recent news about Borneo Resource Investments Ltd (OTC: BRNE), the company could be one to keep an eye on owing to the developments from August this year. At the time the company had made an announcement about a key deal.

The Transaction

Following a fairly complicated deal, the company managed to acquire a majority stake in Silica Scientific Corporation. Following the closure of the transaction, Borneo Resource Investments held a 95% stake in Silica Scientific. The announcement was made on August 20.

Key Details

In this context, it could be a good idea to take a closer look into the acquisition target. Silica Scientific had been responsible for the financing of four expeditions in Suriname for the search of quartz silica sand of high quality. More importantly, the company succeeded in the activity as it discovered a large deposit. The independent assays that had been completed on the samples revealed silicon dioxide purity of 99.5%

Considering the fact that Borneo Resource Investments is involved in locating and securing natural resource asset opportunities, the transaction was in alignment with its goals. The company is also interested in precious metals, minerals and critical metals. It may be a stock worth tracking. 

Pete Matthews

Pete attended the University of Colorado and still calls the centennial state home. He chases trout in the summer and snowboards in the winter. He is fascinated with the markets and has a strong interest in nanocap stocks and crypto currency.