Business
Brookmount Gold Corp. Reports Financial Results
Brookmount Gold Corp. Reports Financial Results.
About this update from Brookmount Explorations, Inc.
[{"type":"text","content":"BROOKMOUNT GOLD CORPORATION.Brookmount Gold Corp. Reports Financial Results Los Angeles, California--(Newsfile Corp. – July 15, 2022) - Brookmount Gold Corp. (OTC PINK: BMXI) (\"Brookmount\"), a Nevada incorporated company is pleased to provide this update to shareholders on its operational and financial progress.Key Points:· 46% Increase in Net Profit for the comparable period in the prior year· 43% Increase in Revenue for the comparable period in the prior year· Net Profit of $1.9 million· Revenue $4.6 million· Total Assets increased to $26 million· Proceeding with the acquisition on the Alaska (US) side of the Tintina Gold BeltThe Company recently filed its first quarter financial results for the quarter ended 5/31/2022. Highlights included:· The Company continued to record strong operating results during the first quarter, with net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021.This sustained strength in operating performance reflected continuing improvements at the Company’s Talawaan operations, where, in addition to continuing to extract and process ore from high grade seams running across the property, significant upgrades were carried out during the period, with construction of additional processing and crushing capacity and additional reserve acreage acquired.· Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders’ funds increased to $24mm from $21 million over the same period.“The Company continued to make good progress both in our operating results and our expansion initiatives, where we are now moving forward with an acquisition on the Alaska (US) side of the Tintina Gold Belt,” commented Nils Ollquist, CEO. “We will continue to pursue new opportunities for expansion of our precious metals’ platform including th...