With Full Control of Indonesian Assets, Brookmount Gold Expanding Mining Operations
Reno, Nevada, Feb 25, 2025 – Brookmount Gold (sic. Brookmount Explorations Inc.) (OTC: “BMXI”), a gold exploration and production company, is pleased to announce that since acquisition of full control, the Company has successfully mined from a single operating shaft, at an average ore grade of approximately fifteen grams per tonne. This is reflective of the extremely high ore grades available on Brookmount’s fifty-hectare property. The Company is in the process of restarting production of the remaining four shafts, which were in use prior to the takeover.
Brookmount continues to undergo productivity upgrades at its mining sites, with enhanced safety and operational controls, planned infrastructure enhancements, including upgraded mains power supply, improved road access, and expansion and renovation of ore milling and processing infrastructure. Equipment upgrades include the addition of several high-capacity hydraulic drills and rock splitters, jackhammers, air compressors and safety equipment, all of which enhance extraction efficiency. In order to reduce processing time for each production run, management is implementing a revised system for its ball mill capacity which will reduce processing time for each run by 30%.
The region is known for its high-grade gold ore deposits, mostly found in volcanic and hard rock formations. The mine contains some of the highest-grade gold deposits in the world, showing up to thirty grams/tonne from some production cycles. The gold mineralized vein structure on the Company’s property is demonstrating outstanding gold grades, with a current cumulative average grade of raw gold yielding 1.22 oz (34.6g)/tonne. It is estimated that ongoing mining will generate average yields of at least 20g/tonne. Total costs per ounce are approximately $718, making it among the most efficient and profitable gold mining operations, at scale, in the world. In comparison, the highest-grade large-scale gold mining operation in the world is the Fosterville mine in Australia with an average head grade of 28.13g/t.
According to GlobalData, Indonesia is the eighth-largest gold producing country in the world (for 2023). It also has approximately 2,500 tonnes of non-mined gold reserves, placing it 5th or 6th in the world depending on the source. The country had production of over one hundred metric tonnes in 2023, a current market value of $6.5 billion at current prices. Experts expect a steady rise in production for the next several years. Indonesia’s rich mineral resources and favorable geology, featuring complex volcanic formations, make it an attractive destination for mining companies seeking new opportunities in the gold sector.
In 2024 the Company produced approximately eight thousand ounces of 99% pure gold, approximately 10% more than in 2023. This production generated about $18.4 million in revenue and approximately $2 million in gold inventory. With the use of new hydraulic equipment and upgrades to processing methods, management plans to increase production two- to threefold. The largest gold mining operator in the province, operating at industrial scale adjacent to Brookmount’s operations and extracting similar ore, is producing approximately 35,000 ounces of gold annually on a property also fifty hectares in size. This property is the only open-cut gold mining operation in the province and can utilize blasting for rapid ore extraction. In contrast, Brookmount operates on a more discrete and less impactful method of production, taking great care to minimize the Company’s environmental footprint, and works to build and maintain relationships with local councils and communities.
Management believes that the progress achieved during the first month of operation demonstrates the long-term viability of increasing growth and for the Brookmount team in Indonesia to create a world-class gold operation. The gold market has entered a sustained period of price growth, driven by the unstable state of geopolitics worldwide. With gold as a safe haven for investors who seek security, and with limited supply, we believe that Brookmount is perfectly placed to capitalize on its position as an efficient, low-cost producer with significant reserves, to reward its shareholders accordingly. We look forward to providing more exciting updates as the production and revenue from our Indonesian gold mining operations accelerate. The company expects to file year-end financials by March 17 and Q1 financials, for the quarter ending February 28, by mid-April.
About Brookmount Gold
Founded in 2018, Brookmount Gold is a high-growth gold-producing company quoted on OTC Markets in the United States (OTC: BMXI). With operating gold mines in Southeast Asia and exploration and production assets in North America, the company is focused on building production of existing assets to scale, in addition to acquiring and developing additional high-quality gold assets with JORC/NI 43-101 verified resources.
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