Brookmount Gold Files Annual Report & Financial Statements for Fiscal Year 2024
Brookmount Gold (BMXI) has released its FY2024 financial results, reporting strong performance with revenue reaching $18.45 million, an 8.1% increase from 2023. The company achieved record gold production of 6,500 ounces and marked twenty-three consecutive profitable quarters.
Key financial highlights include a 3.7% increase in gross profits to $12.35 million and a 4.1% rise in net income to $9.18 million ($0.07 EPS). Total assets grew to $53.63 million, while liabilities decreased to $1.72 million.
Significant operational developments include completing the acquisition of 100% ownership of Indonesian mining operations, valued at $168.7 million through an independent DCF analysis. The company is working with SGS Group for thermal imaging analysis and has initiated a strategy to restructure North American operations into a separate listed entity.
Brookmount Gold (BMXI) ha pubblicato i risultati finanziari per l'anno fiscale 2024, riportando una performance forte con ricavi che hanno raggiunto 18,45 milioni di dollari, un aumento dell'8,1% rispetto al 2023. L'azienda ha ottenuto una produzione record di oro di 6.500 once e ha segnato ventitré trimestri consecutivi di profitti.
I principali punti salienti finanziari includono un aumento del 3,7% nei profitti lordi a 12,35 milioni di dollari e un aumento del 4,1% nel reddito netto a 9,18 milioni di dollari (0,07 dollari per azione). Gli attivi totali sono cresciuti a 53,63 milioni di dollari, mentre le passività sono diminuite a 1,72 milioni di dollari.
Sviluppi operativi significativi includono il completamento dell'acquisizione del 100% delle operazioni minerarie in Indonesia, valutate 168,7 milioni di dollari attraverso un'analisi DCF indipendente. L'azienda sta collaborando con il gruppo SGS per l'analisi termica e ha avviato una strategia per ristrutturare le operazioni in Nord America in un'entità quotata separata.
Brookmount Gold (BMXI) ha publicado sus resultados financieros para el año fiscal 2024, reportando un rendimiento sólido con ingresos que alcanzaron $18.45 millones, un aumento del 8.1% en comparación con 2023. La compañía logró una producción récord de oro de 6,500 onzas y marcó veintitrés trimestres consecutivos de ganancias.
Los aspectos financieros clave incluyen un aumento del 3.7% en las ganancias brutas a $12.35 millones y un aumento del 4.1% en el ingreso neto a $9.18 millones ($0.07 por acción). Los activos totales crecieron a $53.63 millones, mientras que las deudas disminuyeron a $1.72 millones.
Desarrollos operativos significativos incluyen la finalización de la adquisición del 100% de las operaciones mineras en Indonesia, valoradas en $168.7 millones a través de un análisis DCF independiente. La empresa está trabajando con SGS Group para análisis de imágenes térmicas y ha iniciado una estrategia para reestructurar las operaciones en América del Norte en una entidad cotizada separada.
브룩마운트 골드 (BMXI)는 2024 회계연도 재무 결과를 발표하며, 2023년 대비 8.1% 증가한 1845만 달러의 수익으로 강력한 성과를 보고했습니다. 이 회사는 6500온스의 기록적인 금 생산을 달성했으며, 23분기 연속으로 이익을 기록했습니다.
주요 재무 하이라이트로는 총 이익 3.7% 증가로 1235만 달러에 달하고, 순이익 4.1% 증가로 918만 달러(주당 0.07달러)에 이릅니다. 총 자산은 5363만 달러로 증가했으며, 부채는 172만 달러로 감소했습니다.
중요한 운영 개발 사항으로는 독립적인 DCF 분석을 통해 1억 6870만 달러로 평가된 인도네시아 광업 운영의 100% 소유권 인수 완료가 포함됩니다. 이 회사는 SGS 그룹과 협력하여 열화상 분석을 진행하고 있으며, 북미 운영을 별도의 상장 기업으로 재구성하는 전략을 시작했습니다.
Brookmount Gold (BMXI) a publié ses résultats financiers pour l'exercice 2024, rapportant une performance solide avec des revenus atteignant 18,45 millions de dollars, soit une augmentation de 8,1 % par rapport à 2023. L'entreprise a atteint une production record d'or de 6 500 onces et a enregistré vingt-trois trimestres consécutifs de bénéfices.
Les principaux points financiers comprennent une augmentation de 3,7 % des bénéfices bruts à 12,35 millions de dollars et une hausse de 4,1 % du revenu net à 9,18 millions de dollars (0,07 $ par action). Les actifs totaux ont augmenté à 53,63 millions de dollars, tandis que les passifs ont diminué à 1,72 million de dollars.
Les développements opérationnels significatifs comprennent l'achèvement de l'acquisition de 100 % des opérations minières en Indonésie, évaluées à 168,7 millions de dollars par une analyse DCF indépendante. L'entreprise collabore avec le groupe SGS pour une analyse thermique et a initié une stratégie de restructuration des opérations nord-américaines en une entité cotée séparée.
Brookmount Gold (BMXI) hat seine Finanzergebnisse für das Geschäftsjahr 2024 veröffentlicht und dabei eine starke Leistung mit einem Umsatz von 18,45 Millionen Dollar gemeldet, was einem Anstieg von 8,1 % im Vergleich zu 2023 entspricht. Das Unternehmen erzielte eine Rekordproduktion von 6.500 Unzen Gold und verzeichnete dreiundzwanzig aufeinanderfolgende profitable Quartale.
Wichtige finanzielle Höhepunkte umfassen einen Anstieg der Bruttogewinne um 3,7 % auf 12,35 Millionen Dollar und einen Anstieg des Nettogewinns um 4,1 % auf 9,18 Millionen Dollar (0,07 Dollar pro Aktie). Die Gesamtaktiva stiegen auf 53,63 Millionen Dollar, während die Verbindlichkeiten auf 1,72 Millionen Dollar sanken.
Wesentliche betriebliche Entwicklungen umfassen den Abschluss der Übernahme von 100 % der indonesischen Bergbauaktivitäten, die durch eine unabhängige DCF-Analyse mit 168,7 Millionen Dollar bewertet wurden. Das Unternehmen arbeitet mit der SGS-Gruppe an einer thermografischen Analyse und hat eine Strategie zur Umstrukturierung der nordamerikanischen Aktivitäten in eine separate börsennotierte Gesellschaft initiiert.
- Record gold production of 6,500 ounces in 2024
- Revenue increased 8.1% to $18.45 million
- Net income grew 4.1% to $9.18 million
- Total assets increased 26.7% to $53.63 million
- Liabilities decreased 18.1% to $1.72 million
- Acquired 100% ownership of Indonesian mining operations
- Twenty-three consecutive profitable quarters achieved
- Production slowdown in early 2025 due to ownership transition
- Management admits being 'not entirely satisfied' with growth
- Gross profit growth (3.7%) lagged behind revenue growth (8.1%)
RENO, NV / ACCESS Newswire / March 19, 2025 / Brookmount Gold (sic. Brookmount Explorations Inc.) (OTC PINK:BMXI), a gold exploration and production company, is pleased to confirm that it has filed its Annual Report & Financial Statements for the fiscal year ending November 30, 2024, with OTC Markets…
FY 2024 Financial Highlights:
Revenue for twelve months reached
$18.45 million , an increase of8.1% over the corresponding result in 2023 of$17.06 million . Revenue was comprised principally of the direct sale of gold. During 2024 the company mined more gold and the price for gold increased from 2023.
Gross Profits increased
3.7% to$12 ,35 million compared to$11.91 million for fiscal year 2023. .
Net income for 2024 was
$9.18 million or $.07 Earnings Per Share (EPS), based on the outstanding share count on 11/30/24 of 140,225,689. This represents a4.1% increase from the$8.95 million net income achieved in FY23. This is primarily a reflection of increased gold production and higher gold prices, together with a reduced tax provision.
Total Assets increased to
$53.63 million compared to$42 ,32 million on 11/30/23. This is a result of the increased cash flow generated which resulted in substantially more funds being generated and held by the joint venture for reinvestment.
Total Liabilities decreased to
$1.72 million on 11/30/24 compared to$2 ,10 million on 11/30/23, a4.1% decrease. This is a result of a lower negotiated tax burden.
For additional information, please visit www.otcmarkets.com for full filing details.
Nils Ollquist, CEO of Brookmount Gold commented as follows: "We are pleased, but not entirely satisfied, by our growth during the past year. During the current fiscal year, we plan to take full advantage of achieving full operational control of our mining operations in Indonesia, through seeking greater efficiency in our mining activities, expanding our number of operating shafts and improving our ore processing sequence to reduce processing times. While the initial transition process to full ownership of the mine, in the first 2 months of 2025 slowed production, the foundation for incremental growth has now been established. Our objective is that the second half of 2025 will show production higher than the second half of 2024. As the price of gold continues to rise (recently trading above
2024 Operational Highlights
In 2024 the Company mined approximately 6,500 ounces (oz) of gold, a new company record, and has now recorded twenty-three consecutive profitable quarters.
In July, the Company announced a definitive agreement for the acquisition of
100% ownership and control of The Company's mining operations at the Indonesian mine. In December, the Company completed the acquisition and took full operational control. Errin Kimball, Brookmount's Chief Geologist relocated to Indonesia to oversee the process and ensure a smooth transition. In January, the mine was reopened and mining operations recommenced.
The Company commissioned a valuation report from an independent U.S.-based accounting/appraisal firm, to review and endorse a Discounted Cash Flow (DCF) analysis of the Indonesian gold operation's value to justify the purchase. The report ultimately derived a valuation of
$168.7 million , thus paving the way for the purchase and100% control of the mine and its operations. The$168.7 million appraised value is derived from a thorough and comprehensive analysis of historical and projected production, sales, operating expenses, earnings, and ore grades statistics.
With full operational control, the Company now has the right to fully explore and exploit the 50-hectare property, including implementing a drilling program to carry the balance of provable reserves on our financial statements, while also guiding future gold exploitation. The Company is working with SGS Group, the worlds leading Testing, Inspection & Certification company with respect to conducting thermal imaging analysis of ore deposits on the property.
The Company initiated a strategy of restructuring North American operations. Given that the majority of our North American properties are each at, or near, production status, Brookmount is proposing a strategy whereby these properties will be transferred into a separate listed entity to facilitate greater access to project funding and provide an independent listing and valuation platform. The transaction will be structured in such a way that several benefits will accrue to Brookmount, and most importantly, its shareholders.
The Company launched a new social media platform to improve and streamline information delivery and communication with our stakeholders at all levels. This has led to enhanced communication and global visibility creating additional business opportunities for the company.
About Brookmount Gold
Founded in 2018, Brookmount Gold is a high-growth gold-producing company quoted on OTC Markets in the United States (OTC: BMXI). With operating gold mines in Southeast Asia and exploration and production assets in North America, the Company is focused on building production of existing assets to scale, in addition to acquiring and developing additional high quality gold assets with JORC/NI 43-101 verified resources.
Safe Harbor Statements:
Except for the historical information contained herein, certain of the matters discussed in this communication constitute "forward-looking statements" within the meaning of the Securities Litigation Reform Act of 1995. Words such as "may," "might," "will," "should," "could," "anticipate," "estimate," "expect," "predict," "project," "future," "potential," "intend," "seek to," "plan," "assume," "believe," "target," "forecast," "goal," "objective," "continue" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount's common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
Investor Relations Contact: ir@bmxigold.com
Website: https://www.brookmountgold.com Corporate
Contact: corporate@brookmountgold.com
Social Links: Brookmount Gold X (Former Twitter): https://x.com/brookmountgold
SOURCE: Brookmount Explorations, Inc.
View the original press release on ACCESS Newswire
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