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Sunday, November 27, 2022

Brookmount Explorations Inc (OTCMKTS: BMXI) Heating Up and Getting Noticed by Investors as Profitable Gold Co Acquires 250 HA Property in the Yukon

Brookmount Explorations Inc (OTCMKTS: BMXI) is making an explosive move up the charts after the Company reported it has acquired a 250 HA property on the Alaska USA side of the Tintina Gold Belt where the Company acquired its Moosehorn property in the Yukon (Canada) last year. The property is situated on McArthur Creek, a significant, gold bearing water course, which is designated as Kenyon Creek in the Yukon part of Tintina, and is effectively adjacent to the Moosehorn property. The McArthur Creek property shares identical topography with Moosehorn, including surface and shallow depth gold, and has previously been successfully mined by the current owner, Errin Kimbal, who joined Brookmounts board as Executive Director immediately. 

BMXI is making a big move up the charts since reversing off $0.03 lows. The stock used to trade well over $1 and popped to highs of $1.50 in late 2020 when the share structure was roughly half of what it is today meaning the stock did maintain a market valuation of nearly $20 million as compared to $1 million today. BMXI has a lot going for it; for Q1 2022 BMXI reported net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021.  Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders’ funds increased to $24mm from $21 million over the same period. As the price of gold continues to rise BMXI should benefit with increased margins and higher revenues. BMXI is also in the process of applying for listing on Nasdaq or NYSE.

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Brookmount Explorations, Inc. Announces Revenue & ProfitBrookmount Explorations Inc (OTCMKTS: BMXI) conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons. The Company has also acquired a significant gold resource in the Yukon, Canada area of the Tintina Gold Belt and is actively expanding its North American investment platform. 

The Company’s operations are carried out through the excavation and processing of volcanic hosted gold bearing ore in 2 separate locations in Sulawesi Province, Republic of Indonesia. The company operates a floatation-based processing facility adjacent to its 25 HA gold reserve situated in a tropical rain forest area close to the airport at Manado regional capital, with surface and subsurface consisting of medium to high grade ore of 1.5-2.5 grams/tonne. Processing equipment at this location comprises a state-of-the-art platform for processing of ore through to smelting of phase 2 finished product which represents gold with a purity level of 99%, and includes ore crushers and ball mills, 5 high-capacity floatation tanks, onsite power generation and plumbing facilities, including tailing ponds, as well as off-site smelting facilities. The Company has invested approximately $500k in an exclusive 20 year operating agreement for this facility, including unrestricted access to the volcanic sediment hosted ore contained in the 25 HA site. 

The Company also owns a heap leach processing facility approximately 3 hours by road from the Manado operation. This facility has been acquired by The Company and comprises 17 HA of ore reserve, in 2 separate titles, together with a 10,000 tonne heap leach pad and associated plumbing with tailing ponds, power generation, carbon filtration unit, and onsite accommodation for workers and security guards. 

The Moosehorn Gold Project in Yukon, Canada comprised an area of approximately 6000 hectares. The site includes an accommodation camp, airstrip, fuel depot and various heavy equipment. 

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BMXI

BMXI is putting out some solid numbers; the Company recently filed its first quarter financial results for the quarter ended 5/31/2022. Highlights included: 

BMXI continued to record strong operating results during the first quarter, with net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021. This sustained strength in operating performance reflected continuing improvements at the Companys Talawaan operations, where, in addition to continuing to extract and process ore from high grade seams running across the property, significant upgrades were carried out during the period, with construction of additional processing and crushing capacity and additional reserve acreage acquired. 

Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders’ funds increased to $24mm from $21 million over the same period. The Company continued to make good progress both in its operating results and its expansion initiatives, where the Company is now moving forward with an acquisition on the Alaska (US) side of the Tintina Gold Belt. 

On July 26 BMXI announced it has reached agreement on the acquisition of an additional property on the Alaska USA side of the Tintina Gold Belt where the Company acquired its Moosehorn property in the Yukon (Canada) last year. Completion of this transaction will represent the first acquisition by Brookmount in the United States and signify an important milestone in the Companys North American investment strategy. 

The property comprising approximately 250 HA of high-grade Au resource, is situated on McArthur Creek, a significant, gold bearing water course, which is designated as Kenyon Creek in the Yukon part of Tintina, and is effectively adjacent to the Moosehorn property. The McArthur Creek property shares identical topography with Moosehorn, including surface and shallow depth gold, and has previously been successfully mined by the current owner, Errin Kimbal, who joined Brookmounts board as Executive Director immediately following the acquisition of Moosehorn last year. The McArthur Creek property also provides direct access to the Trans Alaska highway, facilitating the movement of heavy excavation and mining equipment back and forth on both the Moosehorn and McArthur Creek properties. Consideration for the acquisition will involve the issue, to the vendor, of 1 million shares of stock, together with an agreement to reimburse $300k of development expenses incurred by the vendor on the property since 2016, from initial revenue generated from gold sales, with subsequent net revenue to be distributed on a 60/40 basis to The Company and the vendor. 

In announcing this transaction, Nils Ollquist CEO commented: I am pleased to be able to confirm to our shareholders and followers that we are moving forward with our development plans for our North American operations with an initial, modest move into the US market. The McArthur Creek property is a natural fit for our Tintina expansion, with near term production potential, and will be very much an integral part of our production strategy moving forward. There are additional opportunities in Tintina and other gold areas in the US that Errin will assist us in identifying over the next 12 months as we consolidate our presence in the North American market, a key component in development of our gold production platform. 

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Currently trading at a $1 million market valuation BMXI was trading at a $15 million market valuation 2 years ago with a fraction of today’s revenues. The Company has an attractive looking balance sheet with very little debt of less than $2 million and over $26 million in assets. BMXI is also very profitable which is a rarity on the OTC hence the Company is looking to up list to Nasdaq or NYSE. For Q1 2022 BMXI reported net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021.  Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders’ funds increased to $24mm from $21 million over the same period. The Company also just acquired a 250 HA property on the Alaska USA side of the Tintina Gold Belt where the Company acquired its Moosehorn property in the Yukon (Canada) last year. The property is situated on McArthur Creek, a significant, gold bearing water course, which is designated as Kenyon Creek in the Yukon part of Tintina, and is effectively adjacent to the Moosehorn property. The McArthur Creek property shares identical topography with Moosehorn, including surface and shallow depth gold, and has previously been successfully mined by the current owner, Errin Kimbal, who joined Brookmounts board as Executive Director immediately. At current levels, BMXI has a lot of room for deserved growth. We will be updating on BMXI when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in BMXI either long or short and we have not been compensated for this article

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