NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Brookmount Gold (Brookmount Explorations Inc.) (BMXI: US), a leading gold exploration and development company, today announced its financial results for 2022, which yielded a revenue of $16.35 million, or a 16.2% increase over the previous fiscal year.
Brookmount Gold reported a net income for 2022 of $7.49 million, a 12.8% increase over that of the latest period. In total, assets have grown to $30.5 million, a 39.1% increase over the last year.
"We are pleased to report strong financial results for 2022," said Nils Ollquist, CEO of Brookmount Gold. "Our continued focus on exploration and development has allowed us to increase our revenue and net income, and we are excited about the growth opportunities ahead of us."
Brookmount Gold's outlook for 2023 is positive, with the company expecting to continue its growth trajectory, as per market analysts covering the stock.
The organization, which holds a strong portfolio of exploration and production assets in gold projects in Indonesia (Talawaan and Manado), Canada (Moosehorn), and the United States (McArthur Creek in Alaska), increased its production by 16.2%, as per the annual AVE gold price.
In addition, on February 9th, Brookmount agreed to acquire a 75% interest in the Tocantins project, a gold mining operation in Brazil, from Geoblocks Exploration Ltd ("Geoblocks"), a company incorporated in the UK, which has entered into a binding agreement to acquire the 75% interest in the Tocantins from its Brazilian owners.
Recently, the company announced the appointment of Elpidio Reis (Dual Brazilian and US National), Charles Heather (United Kingdom National), and Lord Christopher Wellesley (United Kingdom National) as Executive Directors as part of the binding agreement to acquire the Brazilian Asset as outlined above.
"We are committed to creating value for our shareholders and are confident in our ability to execute on our strategic objectives in 2023 and beyond," said Ollquist. "We look forward to continuing to grow our business and delivering strong financial results for our investors."
Founded in 2018, Brookmount Gold is a high-growth gold-producing Company incorporated and quoted on OTC Markets in the United States (OTC: BMXI) (BMXI.US) with operating gold mines in Southeast Asia and exploration and production assets in North America. In addition, the company is actively looking to secure additional high-quality gold assets with JORC/NI 43-101 verified resources.
The company is quoted on the OTC Markets but has already announced its intention to file for uplisting in the next few months after the completion of the three-year PCAOB Audit, expected for the next few weeks.
Brookmount Gold's Earnings report can be downloaded at the company's or OTC Markets' websites. Alternatively, investors and stakeholders can also request a copy of the earnings report by contacting the company's investor relations department or emailing their inquiries to the designated email address on the company's website.
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 the 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.
