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You fell for that?
But yet the male millionssssss and the ceo bought stock at .125
Hmmmm hmmmmm
They don't have estimated resources and certainly don't have any reserves estimates either. Usually, mining companies map and sample workings, drill, do lots and lots of assays, and conduct feasibility studies. And issue technical reports so that their investors are kept informed and to attract new investors.
BMXI? ..not so much.
BTW...they reported grams of gold per 50 kg bag. Weird way to report the grade of the ore....and extremely misleading. The ore in those bags is "hand-cobbed" which means only the best-looking chunks are bagged. So, that material is NOT representative of the mined material.
This company fits right into that old Calgary scene.....
An exploration company that does no exploration. A mining company that discloses next to nothing.....no grades, tonnages, recovery rates, cost per ounce, ounces produced. No technical reports whatsoever.
They don't seem to even know the geology of their only producing mine. Volcanic hosted sediments? What is that?
Can you explain the skeletons?
Being late with signings, or late with NEWS, are not surprising. Having skeletons reminds me of the old Calgary Scam market.
we were promised more information on the details of the buyout. Why can't these guys get their crap together
Lol…you just reminded me of The Shining…
It's his job and character being as he is. Hope Nils will correct him accordingly.
Now you’re not being real at all…the skeletons of the past have nothing to do with the audit that’s coming…speaking of getting real, why not fess up what your agenda is…you spend way too much time here and you’re beginning to look like just another phony.
A "draft" audit was promised, not an actual audit. The actual audit will get pushed out and pushed out.....forever.
There will be no audit. Wayyyyy too many skeletons in their closet.
$BMXI Audit in final stages after delays to the site visit due to airport closures caused by volcanic activity in close proximity to Manado… “Management is pleased to report that the bulk of paperwork and reporting requirements/compliance issues arising from the 2021/22…
— Brookmount Gold (@brookmountgold) June 13, 2024
But we are trading in the mid 8's and how did you arrive at July 15th which I hope you are correct on that.
Vol seems to have picked up a little, but is it to the down side oif so who is selling?
So the audit should be completed by July 15th if I can count correctly?
There is so much FUD on this board, but the shares that Nils just bought made me question my own doubts. This board is strange with the crazy positive posts and DD, while simultaneously having gitreal et al. make some valid points; I'm honestly not sure where I stand. It does seem like 9's are the base though, for now anyways.
I don't understand where he's coming from with all those posts
Value is determined by market makers, Kenny G made us aware of that fact lol
I would say regurgitation of new/old facts and BMXI press releases of non current information in my humble opinion.
Of course, the value is left to the reader. There is ample material to read. Just need to sift through repetitive links sometimes, and outdated BMXI information and press releases.
what are the Value of Wolf's posts
It's good to see you are not posting your BMXI opinions. That relegates you to posting and re-posting old company news and regurgitating facts. Reminds me of Chicken Little and the Boy Who Cried Wolf. Thanks for not interjecting your opinions. Boxed yourself in didn't ya? imho
Oh, thanks for the facts on BMXI, but can you bring up more current facts that are not four to seven years old? How does old management play into BMXI in 2024? Looking for your opinion.
Hey Pumpkin.... were you able to get any of those "cHeApiEs" under .10?
It appears no one is falling for your pumps anymore.
Pure manipulation
I say turn the whole market grey and knock off this market maker bullshit….any takers???
Would an independent review & filing of Reserves & Resources be required for a junior miner to complete a PCAOB audit for uplisting
For a junior mining company to complete a PCAOB audit for uplisting, the independent review and filing of Reserves and Resources can be an essential part of the process, especially since this information is critical for investors and can impact the financial statements. Here are some details regarding the requirements and the role of Reserves and Resources in the audit and uplisting process:
Importance of Reserves and Resources
Asset Valuation: The value of the mining company's assets heavily depends on the estimated Reserves and Resources. Accurate and independently verified estimates are essential for correct asset valuation on the financial statements.
Investment Decisions: Investors rely on Reserves and Resources estimates to make informed investment decisions. These estimates help assess the company's potential profitability and future cash flows.
Regulatory Compliance: Regulatory bodies, such as the SEC, require mining companies to disclose their Reserves and Resources according to specific standards (e.g., SEC's Regulation S-K, Subpart 1300).
Independent Review and Reporting
Qualified Person (QP): The company should engage a Qualified Person (QP) to independently review and verify the Reserves and Resources. A QP is typically a geologist, engineer, or other professional with relevant expertise and experience.
Technical Report: The QP prepares a technical report that provides detailed information on the Reserves and Resources, including methodology, data used, and assumptions made. This report must comply with relevant standards, such as NI 43-101 (Canadian standards) or JORC Code (Australian standards), depending on the jurisdiction.
Audit Integration: The PCAOB-registered audit firm will incorporate the independent review of Reserves and Resources into the overall audit process. This may involve validating the methodologies used and ensuring the estimates align with financial reporting standards.
Filing Requirements
SEC Filings: If the company is seeking to uplist on a U.S. exchange, it must comply with the SEC's disclosure requirements for mining companies. This includes filing the technical report prepared by the QP along with the financial statements.
Exchange Requirements: The specific exchange (e.g., NASDAQ, NYSE) may have additional requirements for the disclosure of Reserves and Resources. The company must ensure compliance with these requirements as part of the uplisting application.
Conclusion
Yes, an independent review and filing of Reserves and Resources are typically required for a junior mining company to complete a PCAOB audit for uplisting. This process involves engaging a Qualified Person to prepare a technical report, ensuring that the audit firm incorporates this review into the audit process, and filing the necessary reports with the SEC and the exchange. Accurate and independently verified Reserves and Resources estimates are crucial for the valuation of the company's assets and for providing investors with reliable information.
$BMXI's $Uplisting $Reality
* Currently traded companies qualifying solely under the Market Value Standard must meet the $75 million market value of listed securities and the $4 bid price requirement for 90 consecutive trading days before applying.Jan 2, 2024
To regain compliance, the company's common shares must have a closing bid price of at least $1 per share for a minimum of 10 consecutive business days, at which point the matter will be closed.Apr 24, 2024
Corporate Services
OTCQB
View the complete list of OTCQB Eligibility Requirements Reporting Requirements Meet one of the following Reporting Standards : SEC Reporting Standard Eligibility Requirements Audited Annual Financials (PCAOB Audit required for U.S. Bank Reporting Standard International Reporting Standard Alternative Reporting Standard Timely disclosure of material news Corporate Governance Requirements that includes at least two Independent Directors Have an Audit Committee, a majority of the members of which are Independent Directors Verification Requirements OTCQB Release 7 - April 16, 2019 OTCQB Release 6 - September 4, 2018 OTCQB Release 5 - April 19, 2018 OTCQB Release 4 - October 16, 2017 OTCQB
What is a competent person report for mining?
A Competent Person's Report is a document providing an independent and transparent assessment of the exploration results, mineral resources, and mineral reserves of a company's assets.
It would be nice to see more people selling on this news. MM could raise the ask on BMXI by the end of the day to set in motion a new uptrend. imho
The audit filing is more likely with this signed buyout. The company continues to legitimize operations. I can see why a two year audit was agreed upon. Cash is coming into BMXI coffers. Money talks and innuendoes walk. imho
The company is already worth $45 mill with liabilities removed. We should be at $.40 easily.
With the potential for gold to increase to $2600/oz this winter, BMXI stock could easily reach 20 cents a share or more. imho
Learned long ago from incompetent management of OTC CEO's & associates
One jack hammer: gold $10,795,970 - $43,185,544/year Take 75% for BMXI's share. That is 8.0 million dollars to 32.4 million dollars. The potential for substantial stock appreciation has now become a reality with the signed buyout. Adding more equipment will increase the money flowing into BMXI's bank account and bottom line numbers on future financial statements. imho Like I said imho your imho may differ
It means my half million BMXI shares is looking mighty nice going into the fall this year and beyond
Go back and look at the gold produced and potential gold produced (keeping 75% of that) with upgrades to the BMXI mine. This is a substantial amount of cash flow BMXI will have in their bank account as opposed to before the agreement was signed. BMXI is not a 9 cent a share gold mine. Financials going forward will show this to be the case. imho
Doesn't appear to further the Audit process 1 Key word Independent
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174678727
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174681150
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174683174&txt2find=pcaob
what does this mean "Chief Geologist Errin Kimball to "prove-up" reserves and increase production."
ChatGPT
The phrase "Chief Geologist Errin Kimball to 'prove-up' reserves and increase production" likely means that Errin Kimball, who holds the position of Chief Geologist, has been tasked with two main objectives:
Prove-up reserves: This refers to the process of confirming the presence and quantity of economically recoverable minerals or hydrocarbons (like oil and gas) in a given area. It involves conducting geological surveys, drilling exploratory wells, and analyzing data to provide a credible estimate of the reserves available for extraction.
Increase production: Once reserves are proven (or confirmed), the goal is to optimize the extraction process to increase the output of the resource. This could involve implementing more efficient drilling techniques, improving infrastructure, or exploring new technologies to enhance production rates.
In summary, Errin Kimball has been assigned the responsibility to both verify the existence and quantity of recoverable resources (proving-up reserves) and to enhance the rate at which these resources are extracted (increasing production).
..and you were saying what, about a NSR being not aligned? ...the Company will continue to maintain a close and effective relationship with our long-term partners, including payment of a 25% royalty on net earnings generated by the operation."...
https://www.newsfilecorp.com/release/215205
Keeping 75% is big time as opposed to basically none before.
25% NSR is a nice chunk of change. I would like that deal.
Ofc not ! What almost always happens is dilution then reverse split.
Seems a bit contradictory, doesn't it?
I suspect (very strongly) that BMXI's role in the JV and with operations at the mine......are not actually as portrayed. "Squirrely" is putting it mildly.
Where do we stand with the audit countdown? Is it rainy season - slippery roads? Any earthquakes? How about political unrest?
"securing full operational control of the mining operations at Talawaan, including revenues" does not align with a net smelter royalty.
You must not have done much due diligence on BMXI or you would have known this ahead of time instead of talking, about not diluting stock to finance the company's operations. This appears to be changing. We wait a press release this week for clarification on how much revenue BMXI will get. It is possible a net smelter royalty may be in the agreement. A two to five percent payment is average on these royalty agreements, if included in the buyout agreement.
Sounds good; however, BMXI did not have control of that money, from reading BMXI financials. That's why they mentioned this on X: Brookmount Gold @brookmountgold $BMXI Brookmount Management has executed the Talawaan Buyout Agreement, securing full operational control of the mining operations at Talawaan, including revenues. Details to be released in a press release next week.
BMXI Trend Analysis and Momentum
"BMXI appears to be correcting within a longer-term bullish trend. Although its MACD is presently below the signal line, shares remain 79.6% above an upwards sloping 200-day moving average. Comparative Relative Strength analysis shows that this issue is outperforming the S&P 500." - Schwab
Momentum
"Momentum for BMXI is strongly bullish. The 14-period Slow Stochastic Oscillator is rising, as investors pay higher prices for shares." - Schwab
Thanks - again - for your DD.
Your experiences with actual well-run gold mining companies are a big plus for us. Most of us are naively wandering the OTC looking for the next homerun.
Cool beans. Thanks for your research. EOM
I’m for this company 90%…… What I would do ? I would use the profits ($9 million last year)instead of diluting the company. 30 million outstanding shares is much better then 100 million shares. With less shares the price can move more quickly…. 70 million shares x .09 = $ 6.3 million. I know it doesn’t work this way, but do the math.
certified reporting gold companies
After tomorrows gains well, maybe another "tomorrow", eh? Good luck.
Serious and significant gold bug investors want only certified reporting gold companies with solid reputable mngt.
Bingo. And BMXI is far from one.
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