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 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.
Brookmount Gold (OTC: BMXI) has received a Buy Rating from analyst Theodore R. O'Neill of Litchfield Hills Research, with a price target of $6. The report highlights that BMXI shares are trading at significant discounts compared to peers, with a ~95% discount to sales and ~99% to earnings. The company has shown consistent growth, experiencing double-digit sales and EBITDA increases over the past two years. Notably, adjusted EBITDA has been between 43% and 69% of revenue. In Q3 2022, sales rose by 30% YoY, while EBITDA grew 39% to $7.64 million.
Brookmount Explorations (OTC PINK: BMXI) reported strong Q1 2022 results with a net profit of $1.9 million, a 40% increase from last year, and $4 million in revenue, up 25%. The company's total assets grew to $24.27 million, boosted by increased land rights, while liabilities decreased to $2.2 million. Brookmount finalized a $3 million share offering under Reg A to fund new projects. Operations in Talawaan remain robust, with hopes of resuming heap leaching at Alason by Q3 2022. The company aims for Nasdaq listing through an ongoing audit.
Brookmount Explorations, Inc. (OTC Pink: BMXI) reports a significant financial update for the quarter ending February 28, 2022. The company achieved $4.01 million in revenue from gold sales, a 33% increase compared to the previous year. Net income surged by 46% to over $1.9 million, translating to earnings of $0.11/share. Operations at the Talawaan site remain strong, with Covid-19 restrictions easing in Indonesia, allowing for resumption of activities at the Alason site. The company also acquired a 5000 HA high-grade ore property in Canada, aiming for production in the next year.
Brookmount Explorations, Inc. (OTC Pink: BMXI) has released its annual disclosure statement, reporting $14 million in sales and a net operating profit of $6.6 million for 2021, marking increases of 27% and 16% respectively from the previous year. These figures were achieved despite operational challenges due to the Covid-19 pandemic. The company's strategy of deferring production sales has increased inventory, anticipating better prices in 2022. The firm also plans to expand into North America with a new gold property poised for production.
Brookmount Explorations (OTC PINK: BMXI) has finalized its development plan to expand drilling at the Moosehorn gold property in Canada's Tintina gold belt. The property boasts a confirmed NI 43-101 resource of 39,000 oz. Au, with plans to increase this to 100,000 oz. Au. The total development cost is estimated at $5.5 million, aimed for initial production of 4,000 oz. Au annually starting in 2022, ramping up to 15,000 oz. Au by 2024. Errin Kimball has been appointed Executive Director for North America, enhancing Brookmount's North American market presence.
Brookmount Explorations, Inc. (BMXI) has completed a significant acquisition by securing 100% ownership of the Moosehorn Gold project from Gennex Gold Corp. The project spans approximately 5,000 hectares in the Tintina Gold Belt, containing an estimated resource of 39,000 oz au, with plans to increase this to 100,000 oz by early next year. The company commits at least $1.5 million for drilling and production costs and $1.6 million in deferred cash obligations from the purchase. This acquisition positions Brookmount for potential growth in the North American gold market.
Brookmount Explorations, Inc. (OTC PINK: BMXI) provided an operational update, reporting a 20% increase in sales in Q1 2021, reaching $3.1 million, though net profits fell by 14% to $1.3 million due to a higher tax burden. Mining activities continue positively in Indonesia, but heap leaching at Alason is suspended due to COVID-19 restrictions. The company is expanding operations into developed markets, focusing on the Moosehorn project in Yukon, Canada, with a confirmed resource of 39,000 oz.au. Management is also exploring additional opportunities in North America and Australia.