Borneo, a mining company that mines gold and develops producing gold mines as well as coal mining properties in Indonesia, today announced it has, through its subsidiary PT Puncak Kalabat, executed a Debt Restructuring Agreement with the seller of the "Talawaan Property," a producing gold mine. Borneo had acquired Talawaan for a purchase price of $5,000,000 and owed an aggregate balance of $4,650,000 as of December
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