Brookmount Explorations, Inc. Completes Agreement to Expand Revenue Base


LOS ANGELES, Nov. 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) announced that The Company has completed negotiations with a group of locally based gold producers to act as consolidating selling agent for production, sourced from mining operations in Western Minahasa. Under the terms of the proposed arrangement, first announced in August, Brookmount's local operating subsidiary, PT Puncak NAO Alason will consolidate all gold sales of up to 6 independent producers in the Alason District of Western Minahasa and act as selling agent with a view to enhancing sales price leverage with key buyers. Under the terms of the agreement with its partner operators, Puncak will receive a commission in the form of a discount of 1% of the sale price on gold subject to resale and will take responsibility for all marketing and sales.   As foreshadowed in the August announcement, given that current sales of the independent producers covered under the agreement is the equivalent of $1mm per month, or approximately $12mm per annum, The Company’s consolidated revenues, including revenue from its own production, are expected to increase, as a result of this agreement, to approximately $1.3mm per month, ($15.6mm per annum). Initial revenues from the sales aggregation agreement are expected in the first quarter of 2019. The Company can also confirm that it is close to finalizing its initiative of establishing an association of independent gold producers in the region of Western Minahasa. This will assist in the process of standardizing production techniques and provide economies of scale in procurement of equipment and materials used in the production process. Ultimately, leadership of a gold producers association will enhance The Company’s position as a leader in gold production in the region.

Brookmount 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. 

Safe Harbor Statements:

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 & Analysts
Chesapeake Group
info@chesapeakegp.com
410 8253930
Brookmount Explorations, Inc.
Tel: 213.266.7661
bmxicorporate@gmail.com