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BROOKMOUNT GOLD POSTS A 30% SALES INCREASE AND STRONG ASSET GROWTH IN THE THIRD QUARTER OF 2022
Oct 20, 2022
BROOKMOUNT GOLD POSTS A 30% SALES INCREASE AND STRONG ASSET GROWTH IN THE THIRD QUARTER OF 2022
PR Newswire
NEW YORK, Oct. 20, 2022
NEW YORK, Oct. 20, 2022 /PRNewswire/ - Brookmount Gold (Brookmount Explorations, Inc.) (BMXI: US), an American issuer with operating gold mines in Southeast Asia and exploration and production assets in North America, posted a 30% increase in sales in the third quarter of 2022, as compared to the same period last year.
During the quarter, the company's revenue grew to $4.53 million, up from $3.49 million recorded in Q3 2021.
The earnings results for the reporting period June 1st-August 31st, filed this week with OTC Markets, indicate that the company's EBITDA grew over 39% during the Q1-Q3 2022, up to $7.64 million, compared with the same three months of 2021.
Founded in 2017, Brookmount Gold is a high-growth gold-producing company incorporated and listed in the United States.
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 34%, as per the 90-day AVE gold price.
As an outcome of the financial strategy pursued by Brookmount in the past 12 months, its liabilities lessened by 57% and are already under one million dollars.
"We are very pleased with the results recorded this quarter and the strong growth of our assets. Brookmount Gold continues to focus on its strategy to become a strong player in the gold mining ecosystem," said Nils Ollquist, its CEO.
"Our management team aims to generate wealth for our shareholders. To that end, we will continue to intensify our capabilities at the gold production facilities we operate," he explained.
In aggregate terms, the year's first three quarters showed strong growth and solid performance.
By August 31st, 2022, Brookmount's sales for the nine months were at $13.15 million, or a 36% increase over the first nine months of 2021.
In the same period, year on year, its EBITDA increased by 34.6% to $2.698 million.
In addition, its total assets are now $28.13 million, well over the Q1-Q3 2021 period, while liabilities were reduced by 57%, proof of the success of the management's strategy, focused on generating profitable returns by way of innovation, internationalization, and financial prudence.
Brookmount operates according to a clear ESG mandate and is committed to supporting local communities in the areas where it works.
Led by a seasoned team of professionals with years in the industry, it follows strict environmental-care processes to exploit its gold production facilities, seeking profitability while supporting local communities.
The company is actively looking to secure additional high-quality gold assets, with JORC/NI 43-101 verified reserves, in the developed gold markets of North America and Australia.
Brookmount operates around three pillars: developing robust gold mining systems to boost revenue, a clear international asset acquisition strategy, and strengthening liquidity through transparency.
In times of market turmoil, gold is a safe haven asset mainly unaffected by inflation. Its high demand helps keep prices stable and provides some protection against economic downturns.
For additional information on the company's operations, please visit brookmountgold.com and https://www.otcmarkets.com/stock/BMXI/
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SOURCE BROOKMOUNT GOLD