Borneo Oil’s gold mining pays off with 19,692 ounces worth RM100mil

KUCHING: Borneo Oil Bhd’s diversification into gold mining activities in Pahang has paid off, with its gold inventory currently worth some RM100mil.

As at March 31, 2016, the group held 18,863 ounces in gold inventory valued at US$24mil or RM94mil (based on an ounce of US$1,280 and exchange rate of US$1 to RM3.9 then), according to the company.