There were a number of companies that announced their financial results on Monday, and one of those was Brookmount Explorations Inc. (OTC:BMXI). It could be a good move for investors to consider taking a closer look at the company’s performance this morning.
The company’s performance in the first fiscal quarter was strong, as it ended up with sales of $4.7 million. That reflected an improvement of 4% on the $4.5 million that Brookmount Explorations had generated in sales in the prior year quarter. The company’s net income for the period came in at $2.8 million, which worked out to a year-on-year rise of 12% from the $2.5 million it had generated in the prior year quarter.
The company’s Chief Executive Officer, Nils Ollquist, noted in its news release that it was excited about the continuation of the positive operating performance at its Talawan operations. The CEO went on to add that Brookmount Explorations was also looking forward to bringing its profitable Alason property into production again. In the news release, the company also stated that gold prices had hit a historic high of $2400 per ounce recently. That made the management optimistic with regards to the generation of revenue growth and strong profits at Brookmount Explorations in the future.
Olliquist also stated that there were certain key milestones that the company was looking forward to in the next 60 to 90 days. One of those would be the 3-year PCOAB audit of the company’s operations. For that purpose, Brookmount Explorations had contracted the services of Accell Audit and Hall Chadwick Group. Another significant milestone would be the acquisition of Talawan Mining Operations from the company’s joint venture partner. The closing date for the transaction had been set for June 30, 2024. The CEO expressed excitement at the prospect of taking over the Talawani mine.
