Business
Brookmount Gold increased its revenue in 2022 to $16.35 million, or a 16.2% increase, after a strong year of growth and acquisitions
Brookmount Gold increased its revenue in 2022 to $16.35 million, or a 16.2% increase, after a strong year of growth and acquisitions.
About this update from Brookmount Explorations, Inc.
[{"type":"text","content":"\n NEW YORK, March 01, 2023 (GLOBE NEWSWIRE) -- Brookmount Gold (Brookmount Explorations Inc.) (BMXI: US), a leading gold exploration and development company, today announced its financial results for 2022, which yielded a revenue of $16.35 million, or a 16.2% increase over the previous fiscal year. Brookmount Gold reported a net income for 2022 of $7.49 million, a 12.8% increase over that of the latest period. In total, assets have grown to $30.5 million, a 39.1% increase over the last year. \"We are pleased to report strong financial results for 2022,\" said Nils Ollquist, CEO of Brookmount Gold. \"Our continued focus on exploration and development has allowed us to increase our revenue and net income, and we are excited about the growth opportunities ahead of us.\" Brookmount Gold's outlook for 2023 is positive, with the company expecting to continue its growth trajectory, as per market analysts covering the stock. 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 16.2%, as per the annual AVE gold price. In addition, on February 9th, Brookmount agreed to acquire a 75% interest in the Tocantins project, a gold mining operation in Brazil, from Geoblocks Exploration Ltd (\"Geoblocks\"), a company incorporated in the UK, which has entered into a binding agreement to acquire the 75% interest in the Tocantins from its Brazilian owners. Recently, the company announced the appointment of Elpidio Reis (Dual Brazilian and US National), Charles Heather (United Kingdom National), and Lord Christopher Wellesley (United Kingdom National) as Executive Directors as part of the binding agreement to acquire the Brazilian Asset as outlined above. \"We are committed to creating value for our shareholders and are confident in our ability to execute on our strategic objectives in 2023 and beyond,\" said Ollquist. \"We look forward to continuing to grow our business and delivering strong financial results for our investors.\" Founded in 2018, Brookmount Gold is a high-growth gold-producing Company incorporated and quoted on OTC Markets in the United States (OTC: BMXI) (BMXI.US) with operating gold mines in Southeast Asia and exploration and production assets in Nor...