LOS ANGELES, July 11, 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 in excess of $350k on revenue of $805k for the 3 months to May 31, 2018. Whilst the reporting period straddles the traditional summer rainy season in northern Indonesia, the Company was able to maintain and improve operating performance as higher processing yields from heap leaching based production offset longer processing cycles induced by the wet conditions.
As discussed in pervious operating updates, the introduction of Chinese trained, highly skilled chemical engineers into the key production areas of northern Minahasa Province over the past year has seen a marked improvement in operating yields with recovery percentages from medium ore grades increasing by up to 50% as the chemical composition of leaching fluid and length of operating cycles are continually fine tuned.
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. Management is also reviewing a number of possible acquisitions in other South East Asian countries, details of which 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 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:
Brookmount Explorations, Inc.