Brookmount Gold Shares Key Updates on Indonesian Operations and PCAOB Audit
Reno, Nevada, Jan. 15, 2025 – Brookmount Gold (sic. Brookmount Explorations Inc.) (OTC: BMXI), a gold exploration and production company, provides an update on its ongoing initiatives as it continues to advance its strategic priorities.
Audit Progress and Transparency
The Company anticipates that its PCAOB audit review will be completed within the next 30 days. This follows the finalization of the US GAAP audit process and underscores Brookmount’s commitment to transparency and accountability.
Advancing Operations in Indonesia
Brookmount’s management team is currently on-site in Indonesia, overseeing the commencement of production which follows completion of the transition of full operational control at our Indonesian mine. As anticipated, mining operations began on Saturday with a 24-hour, 3-shift rotation. Production involves a dedicated workforce of 30 contract miners operating across shafts in a key location on the property.
Following completion of the initial smelting process on Saturday, production volumes will be scaled up to a cycle of 4 production runs per month. Management is pleased to confirm that ore extraction rates over the initial three days of mining have been 30% ahead of planned volumes.
The introduction of efficiency measures, including enhanced protective equipment for miners, increased security measures such as CCTV and monitors at shaft locations, appointment of additional shift managers at the site, and introduction of new heavy-duty hydraulic drills, demonstrates Brookmount’s commitment to operational safety and its focus on building a sustainable, efficient mining operation. With January marking the official start of production under new management, full acquisition of our Indonesian mining operation represents a significant step forward in the Company’s growth strategy.
Statement from Management
“We are excited to see the progress at our flagship Indonesian mine and launch full-scale production this month,” commented Nils Ollquist, CEO of Brookmount. “Completion of the takeover of operations will enable the Company to become cash flow positive and generate capital for expansion and improvement of operations as well as amortisation of debt. The introduction of enhanced operating systems and protocols, and a disciplined and focused expansion plan, reflects our commitment to a better and more profitable operation,” said CEO Nils Ollquist.
“Our upcoming investor call will allow us to further connect with investors and discuss key issues such as the Indonesian operational transition, financial audits, and the pathway to listing for BMXI shares. Management remains steadfast in its mission to deliver long-term value for our shareholders.”
Investor Call Reminder
The company wishes to remind its stakeholders about the upcoming investor call, as previously announced through its official channels. This call will serve as a valuable opportunity for the management team to engage directly with stakeholders and provide updates on the company’s progress. Details of the investor call can be found on OTCMarkets at https://www.otcmarkets.com/otcapi/company/dns/news/document/79467/content.
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 acquiring and developing high-quality gold assets with JORC/NI 43-101 verified resources.
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, 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; and 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.