Welcome to our dedicated page for Brookmount Expl news (Ticker: BMXI), a resource for investors and traders seeking the latest updates and insights on Brookmount Expl stock.
Brookmount Gold Corp (Brookmount Explorations, Inc.) (OTC:BMXI) is a gold exploration and production company that regularly issues updates on its mining operations, corporate restructuring, and capital markets activities. This news page aggregates those disclosures, giving readers a single place to review company-issued information about its Southeast Asian mines and North American gold assets.
In its public releases, Brookmount highlights operational developments at its producing gold mines in Southeast Asia, including changes in production levels, investments in equipment, workforce expansion, and efforts to increase ore throughput and efficiency. The company also reports on geological and technical work, such as NI 43-101 report updates for its Moosehorn property in Canada and audit and consulting engagements for its Alaskan properties.
Brookmount’s news flow also covers corporate and financial topics. These include announcements about its Regulation A offering, the use of proceeds to reduce convertible debt and fund mining upgrades, agreements related to the repayment and settlement of convertible notes, and commentary on profitability and cash flow. The company has additionally provided detailed updates on the creation and development of its subsidiary North America Gold, Inc., the transfer of Moosehorn, Atlin, and Macarthur Creek into that entity, and plans for a special share dividend and separate listing.
Visitors can use this page to follow Brookmount’s own descriptions of its strategy, which emphasizes a combination of Southeast Asian production and North American exploration and development. By reviewing the sequence of press releases, readers can track how the company presents its progress on asset transfers, resource validation, audit milestones, and recapitalization steps over time.
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.
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.
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 (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.