Awesome NEWS
LOS ANGELES, Nov. 28, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) announced that The Company has completed negotiations with a group of locally based gold producers to act as consolidating selling agent for production, sourced from mining operations in Western Minahasa. Under the terms of the proposed arrangement, first announced in August, Brookmount's local operating subsidiary, PT Puncak NAO Alason will consolidate all gold sales of up to 6 independent producers in the Alason District of Western Minahasa and act as selling agent with a view to enhancing sales price leverage with key buyers. Under the terms of the agreement with its partner operators, Puncak will receive a commission in the form of a discount of 1% of the sale price on gold subject to resale and will take responsibility for all marketing and sales. As foreshadowed in the August announcement, given that current sales of the independent producers covered under the agreement is the equivalent of $1mm per month, or approximately $12mm per annum, The Company’s consolidated revenues, including revenue from its own production, are expected to increase, as a result of this agreement, to approximately $1.3mm per month, ($15.6mm per annum). Initial revenues from the sales aggregation agreement are expected in the first quarter of 2019. The Company can also confirm that it is close to finalizing its initiative of establishing an association of independent gold producers in the region of Western Minahasa. This will assist in the process of standardizing production techniques and provide economies of scale in procurement of equipment and materials used in the production process. Ultimately, leadership of a gold producers association will enhance The Company’s position as a leader in gold production in the region.
