Brookmount Gold (OTC Pink: BMXI) is engaged as a junior gold exploration and development company, which holds interests in properties across Indonesia and North America. Shares of the gold mining company are gaining 20% through early trading on Thursday, April 20, 2023. Over the past thirty days, Brookmount Gold has seen average daily volume of 350,243 shares. However, volume of 1.79 million shares or dollar volume of around $363,817, has already exchanged hands through early trading.
Shares of Brookmount Gold Corp. disclosed impressive Q1 2023 financial results, with sales hitting $4.54 million, a 13.1% YoY increase, reflecting continued growth. The company’s diverse gold projects span Indonesia, Canada, and the US. Q1 2023 saw a gross profit of $2.96 million, up 9.99% from Q1 2022. A total comprehensive income of $2.129 million was reported, marking a 10.48% YoY increase. The solid performance is due to ongoing exploration and development of assets, particularly Indonesian projects Talawaan and Manado. Additionally, the recent 70% acquisition of a Canadian gold mining operation has bolstered growth prospects.
CEO Nils Ollquist expressed satisfaction with the robust results, attributing them to asset exploration, development, and the Atlin deal. Brookmount Gold’s positive 2023 outlook is supported by a 16.2% production increase and a focus on acquiring more high-quality gold assets. The company, founded in 2018, is a fast-growing gold producer with mines in Southeast Asia and North American assets. Plans to uplist on the NASDAQ or NYSE American are underway, following a three-year PCAOB Audit completion.
CEO Nils Ollquist said, “We are pleased to report robust financial results for the first quarter of 2023. Our ongoing commitment to exploring and developing our assets, including the recent Atlin deal, has resulted in increased revenue and net income. We are excited about the growth opportunities ahead of us and remain focused on delivering value for our shareholders.”
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