Replies to post #996 on Brookmount Exploration Inc (BMXI)

[king koopa]

This one, and the completion of their audit, are some other monster catalysts I'm waiting on... Either one would be huge:

Brookmount Explorations, Inc. Commences Acquisition Negotiations

Press Release | 08/06/2018

LOS ANGELES, Aug. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC “BMXI”) announced that The Company has entered into negotiations with a major mining and industrial group in the Philippines for acquisition of a controlling interest in an existing gold mining complex situated north east of the national capital Manila. The facility includes a reserve of approximately100 HA of medium to high grade ore with grades of between 6-15 g/tonne. The mine facilities are centered around a principal shaft of approximately 300 metres depth served by a cage lift together with a network of over 5,000 metres of horizontal corridors excavated to 9 levels along ore seams, with capacity of 12,000oz pa of gold concentrates. The complex includes a complete processing facility with a capacity of 300 tonnes per day. A comprehensive resource survey undertaken by a Philippine accredited geologist has estimated resource of 3.5 million tonnes at an average ore grade of 11.3g/tonne. Should the acquisition take place as envisaged, BMXI management will retain a JORC accredited confirmation of resource levels.

Contemporaneously with the acquisition negotiations, The Company is in discussions with a Middle East based sovereign fund investment group to arrange a secured line of credit for up to $10 million, proceeds of which will be used to settle the cash component of the acquisition and provide working capital to gear up production activities and cover drilling costs arising from upgrading resource estimates to JORC compliant standards.

The Company anticipates finalizing preliminary agreements on both the acquisition and financing during August and will provide further updates to shareholders accordingly.

Brookmount conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia's most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons.