Brookmount Expl Stock Price, News & Analysis

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.

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.

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.

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.

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.

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.

Brookmount Gold (OTC: BMXI) has signed a binding Memorandum of Understanding (MoU) to acquire a 75% interest in a producing gold mine in Tocantins, Brazil. The acquisition involves a $500,000 initial deposit and $4.5 million in cash upon signing a definitive agreement. Additionally, restricted common stock will be issued, allowing Geoblocks Exploration Ltd to control 49% of Brookmount's fully diluted shares. The Tocantins mine spans over 30,000 hectares and has identified 250,000 troy ounces of near-surface gold. This strategic acquisition aims to bolster Brookmount's gold production capabilities and expand its operations.

Brookmount Gold (OTC: BMXI) has released its financial calendar for the upcoming quarter, highlighting significant dates for earnings and conference calls. Key announcements include:

• Earnings Release: February 28, 2023
• Commentary on Annual Results: March 1, 2023
• Conference Call: March 7, 2023

Additionally, the company has reduced its authorized capital from 2 billion to 200 million shares, aiming for a potential listing on a senior exchange like NYSE American. This move, alongside the completion of 3-year financial audits, signals a commitment to transparency and growth in the gold mining sector.

The Board of Directors of Brookmount Gold (OTC: BMXI) announced the filing for a reduction of its authorized shares with the Secretary of State for Nevada. This move aims to optimize the company's capital structure and enhance shareholder value. The reduction will not affect the outstanding shares or current ownership stakes. CEO Nils Ollquist emphasized that this step is beneficial for shareholders as the company seeks to acquire additional high-quality gold assets in Southeast Asia and North America.