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.
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