Brookmount Exploration Inc (BMXI)

[Zardiw]

$BMXI Indonesian Operating Agreement Update from Company:

I contacted the company today and received a response:

“Under the original terms of our operating agreement for the Talawaan operation, by far the most significant revenue generator for Indonesia, the majority of cash flow generated is retained in Indonesia, largely to fund maintenance and expansion. This provision was less significant when we entered the agreement over 5 years ago, mainly because operating revenue was only a fraction of what has been achieved over the past 3 years. As a result of incrementally higher earnings at Talawaan, a significant cash surplus is carried on the books of the JV. Since crystallising our North American initiative late last year, we have been negotiating with our Indonesian partner to repatriate funds to assist in accelerating the move to production in Moosehorn and McArthur Creek, which we should finalise before the end of the year.

In the meantime, we are in process of assembling some private equity capital from strategic investors in Canada and Australia to supplement existing cash reserves which are being tapped to commence bulk sampling at Moosehorn.”

We have also created a page on our website with Basic financial stats and Recent Developments – The page should go live on Monday following your advise as you are part of the community.


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