LOS ANGELES, Oct. 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) announced that the Company has reported net profit of $437k on revenue of $1.04 million for the 3 months to August 31, 2018, representing an increase of 25% and 22% respectively on the comparable results for the prior quarter ended May 31. The stronger result for the period was mostly a reflection of higher contracting revenue from third party processing at the Company’s Talawaan facility. Management will continue to focus on expanding capacity at its heapleaching operations in the Alason area as operating yields continue to improve.
Continuing uncertainty in global markets, as a result of US China trade friction and tighter global monetary policies, has improved the attraction of safe haven investment alternatives such as gold. As a low cost producer based in a politically stable area, management believes the Company is well placed to benefit from what is becoming a more positive environment for the gold price.
The directors confirmed continuation of ongoing efforts to improve yields and expansion of the Company’s reserve of recoverable ore through acquisition of additional high yielding acreage in the region. Developments in this and other initiatives will be shared with our stakeholders in future progress updates.
Brookmount conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia's most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons.
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.
For more information:
Brokers and Analysts:
Chesapeake Group
info@chesapeakegp.com
410 8253930
Brookmount Explorations, Inc.
Tel: 213.266.7661
bmxicorporate@gmail.com