Brookmount Gold Announces $2.1 Million Net Profit for Q1 2025

Associated Press

16-04-2025

RENO, NV / ACCESS Newswire / April 16, 2025 / Brookmount Explorations, Inc (sic: 'Brookmount Gold') (OTC PINK:BMXI) is pleased to announce that its Indonesian operations reported much better than expected financial performance for the first quarter to February 28, 2025. Revenue was approximately $3.4 million with a net profit of $2.1 million or slightly over .01 Earnings per share (EPS). This highly positive transition to full operational control of the business, beginning in January, was reflective of a steadily increasing gold price and enhanced productivity as Brookmount's own mining activities were undergoing what has been a seamless restructuring under new management.
'We believe that this excellent result endorses our strategy of extracting maximum value from the takeover. We are increasing our staff and our efficiency to take our Indonesian operations to a new and higher level of performance,' commented CEO Nils Ollquist.
Mr. Ollquist continued, 'This month, following recent work undertaken to increase the depth of the main shaft at our primary location to one hundred meter, we are adding an additional mining team of twenty workers to expand shift rotation, Reaching this depth will increase ore grades to above 20 grams/tonne of ore, and facilitate a minimum of three additional horizontal tunnels to be constructed to increase the mineable surface area.'
Mr. Ollquist concluded, 'Our financial projection, based on existing ore grades and planned expansion of production, indicate our performance metrics are ahead of schedule and an endorsement of our decision to move forward with the takeover made last year. Free cash flow generated by our Indonesian operations will be allocated, as a priority, to eliminating the Company's remaining debt, to strengthening the balance sheet and improving our valuation. Further announcements on progress on accelerating Indonesian operations will be made over the few weeks.'
About Brookmount Gold
Founded in 2018, Brookmount Gold is a high-growth gold-producing company quoted on OTC Markets in the United States (OTC: BMXI). With operating gold mines in Southeast Asia and exploration and production assets in North America, the Company is focused on building production of existing assets to scale, in addition to acquiring and developing additional high quality gold assets with JORC/NI 43-101 verified resources.
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.
Investor Relations Contact: [email protected] or 410-825-3930
Website: https://www.brookmountgold.com
Contact: [email protected]
Social Links: Brookmount Gold X (Former Twitter): https://x.com/brookmountgold
SOURCE: Brookmount Explorations, Inc.
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