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BROOKMOUNT EXPLS INC - BMXI STOCK NEWS

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Brookmount Explorations Inc (BMXI) is a gold-producing and profitable mining company with production operations in Indonesia and investments in North America. Brookmount has announced three important upcoming milestones, including the completion of a multi-year PCAOB audit of financial statements, the buyout of the Talawaan Joint Venture, and the spinoff of North American Gold assets. The company is focused on creating a world-class gold mining company, rewarding shareholders, and improving operational efficiency.

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Brookmount Gold (OTC: BMXI) has completed the acquisition of the Mining Operations in Talawaan, Indonesia, with full operational control starting December 2. The acquisition was partially funded by strategic Australian investors who are shareholders in a major Australian listed gold mining company. This investor group will assist in the development and expansion of the Talawaan operation. The company plans to initiate a comprehensive review and upgrade of site systems, focusing on ore extraction, transport logistics, security protocols, and worker safety measures. The acquisition represents a strategic step toward senior exchange listing and will provide 100% control of cash generated from operations, reducing the need for external financing and note conversion dilution.

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Brookmount Gold (BMXI) has reported record Q2 2024 results from its Talawaan gold mining operations. The company achieved gold sales of $5.4 million and net income of $2.9 million. CEO Nils Ollquist attributed the success to increased focus on a high-yield gold seam, a dedicated workforce, and strong gold demand.

The company has implemented electrical upgrades at the Talawaan Mine to accommodate hydraulic hammers, aiming to further improve production yield. Brookmount has also commissioned Kaufman Rossin, an independent U.S.-based accounting/appraisal firm, to review and endorse a Discounted Cash Flow (DCF) analysis of the Talawaan gold operation's value. The analysis is expected to show a value significantly higher than the proposed acquisition consideration.

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Brookmount Gold (OTC Pink: BMXI) has announced the complete acquisition of its joint venture in Talawaan, gaining 100% ownership and control. CEO Nils Ollquist stated that the agreement allows full management control over the Talawaan operation, including its cash flows, while maintaining a 25% royalty payment to their partners on net earnings. This acquisition empowers Brookmount Gold to explore and exploit the 50-hectare property, with plans to prove reserves and boost production. Chief Geologist Errin Kimball's expertise will be leveraged to optimize reserves and future gold exploitation. More details about the acquisition terms will be available on the company's website.

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Brookmount Gold announces updates on PCAOB audit, joint-venture buyout, and dividend spinoff. The company plans to complete a multi-year PCAOB audit, purchase full control of its Joint-Venture partner at Talawaan, and spin off its North American Gold assets. The CEO highlights the importance of these milestones and their positive impact on the business and shareholders. Brookmount aims to enhance operational efficiency, increase output, and reward loyal investors.

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Brookmount Gold (BMXI:OTCMKTS) announced robust financial results for Q1 2023, reporting sales of $4.54 million, a 13.1% increase from the previous year. The gross profit rose to $2.96 million, showing a 9.99% increase, while total comprehensive income reached $2.13 million, up 10.48% year-over-year. The growth can be attributed to ongoing exploration and development of projects in Indonesia, Canada, and the U.S., including a recent 70% acquisition in the Atlin Gold Belt, Canada. The company, which reported total assets of $30.5 million in 2022, is optimistic about maintaining its growth trajectory as it prepares to uplist to NASDAQ or NYSE American. CEO Nils Ollquist emphasized the commitment to delivering shareholder value.

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Brookmount Gold (OTC: BMXI) has announced the acquisition of a 70% stake in a gold mining operation in the Atlin Gold Belt, British Columbia. The acquisition was completed after comprehensive due diligence and follows a binding agreement signed on August 30, 2022. The Atlin Project spans 100 hectares and has a history of valuable mineral production. Current estimates indicate approximately 76,000 tonnes of likely ore with an average grade of 0.17oz per tonne. Brookmount plans to start operations in Q3 2023 and intends to comply with NI 43-101 standards. The deal includes the issuance of 1 million restricted shares and a cash payment of $25,000. This strategic move aims to enhance efficiency, leveraging proximity to existing projects in Canada and Alaska, and strengthens Brookmount's position as a diverse global gold producer.

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Analyst Theodore R. O’Neill from Litchfield Hills Research has reaffirmed a Buy Rating for Brookmount Gold (OTC: BMXI) with a price target of $6. The report highlights that shares are trading at a significant discount compared to peers: ~96% on sales, ~95% on earnings, and ~89% on book value. The company reported 4Q22 revenue of $3.2MM and EPS of $0.03, which fell short of estimates due to lower sales, attributed to exploration efforts and increased inventory in anticipation of higher gold prices. Brookmount reported a 16.2% revenue increase year-over-year, totaling $16.35MM, and a net income of $7.49MM, reflecting a 12.8% increase.

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Brookmount Gold (OTC: BMXI) announced on March 7, 2023, its plans to uplist to a senior exchange like NYSE or Nasdaq, aiming to enhance liquidity and shareholder value. The company reported a 16.2% revenue increase for 2022, reaching $16.35 million, and a net income rise of 12.8% to $7.49 million. Assets grew 39.1% to $30.5 million. Brookmount also secured a 75% interest in the Tocantins gold mining project in Brazil and appointed three new Executive Directors, reinforcing its growth strategy. CEO Nils Ollquist expressed optimism about future opportunities and the company’s commitment to shareholder value.

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Brookmount Gold (BMXI) reported strong financial results for 2022, achieving $16.35 million in revenue, a 16.2% increase year-over-year. Net income rose by 12.8% to $7.49 million, while total assets increased by 39.1% to $30.5 million. The company also announced a strategic acquisition of a 75% interest in the Tocantins gold project in Brazil from Geoblocks Exploration. This acquisition is expected to enhance its portfolio, building on existing operations in Indonesia, Canada, and the US. CEO Nils Ollquist expressed optimism about continued growth in 2023 and the company’s plan to uplist on OTC Markets after an upcoming audit.

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Brookmount Gold (OTC: BMXI) has appointed Elpidio Reis, Charles Heather, and Lord Christopher Wellesley as new Executive Directors following an agreement to acquire a 75% interest in a gold mine in Tocantins, Brazil. Reis has extensive mining experience, previously working with Rio Tinto and the World Bank. Heather has over 40 years in business and minerals exploration, while Wellesley brings over 30 years of investment banking experience. CEO Nils Ollquist expressed confidence that the new directors will enhance the company's leadership and value proposition. Founded in 2018, Brookmount Gold is focused on gold production and expansion of high-quality assets.

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FAQ

What is the current stock price of BROOKMOUNT EXPLS (BMXI)?

The current stock price of BROOKMOUNT EXPLS (BMXI) is $0.047 as of December 24, 2024.

What is the market cap of BROOKMOUNT EXPLS (BMXI)?

The market cap of BROOKMOUNT EXPLS (BMXI) is approximately 5.6M.

What does Brookmount Explorations Inc do?

Brookmount is a gold-producing mining company with operations in Indonesia and investments in North America.

What are the recent achievements of Brookmount?

Brookmount has completed a multi-year PCAOB audit, is in the process of buying out the Talawaan Joint Venture, and is restructuring its North American Gold assets.

What are the upcoming milestones for Brookmount?

The upcoming milestones for Brookmount include completing the PCAOB audit, finalizing the Talawaan Joint Venture buyout, and spinning off North American Gold assets.

How does Brookmount plan to reward shareholders?

Brookmount plans to use cash flows from operations to reward shareholders for their support and patience over the years.

What is the focus of Brookmount's operations in Indonesia?

Brookmount aims to improve operational efficiency and output in its Indonesian operations.

What is the strategy behind the spinoff of North American Gold assets?

The spinoff of North American Gold assets will create a separate listed entity and provide benefits to Brookmount and its shareholders.

When is Brookmount's investor update conference call scheduled?

The investor update conference call is scheduled for May 8th, 2024.

Who can be contacted for Investor Relations at Brookmount?

For Investor Relations, contact Brookmount Explorations, Inc. (Brookmount Gold) & FastPitch IR at brookmountgold@fastpitchir.com.

What is the purpose of the PCAOB audit for Brookmount?

The completion of the PCAOB audit is crucial for inclusion in the SEC reporting system and uplisting, key priorities for management to boost investor confidence.

How does Brookmount plan to improve production in Indonesia?

Brookmount will use surplus funds to improve production, particularly by testing and developing high ore grade sites.

What benefits will shareholders receive from the spinoff of North American Gold assets?

Shareholders will receive a special dividend in the form of shares and benefit from the financial impact on the Brookmount balance sheet.

BROOKMOUNT EXPLS INC

OTC:BMXI

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5.57M
105.70M
0.9%
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