Time will tell I suppose. Just wondering when $BMXI is going to have those fins finished with auditing. Like they mentioned in May, should take long because they've already laid out most of the ground work for the independent auditor.
Brookmount Explorations Inc (OTCMKTS: BMXI) Heating Up and Getting Noticed by Investors as Profitable Gold Co Acquires 250 HA Property in the Yukon
Brookmount Explorations Inc (OTCMKTS: BMXI) is making an explosive move up the charts after the Company reported it has acquired a 250 HA property on the Alaska USA side of the Tintina Gold Belt where the Company acquired its Moosehorn property in the Yukon (Canada) last year. The property is situated on McArthur Creek, a significant, gold bearing water course, which is designated as Kenyon Creek in the Yukon part of Tintina, and is effectively adjacent to the Moosehorn property. The McArthur Creek property shares identical topography with Moosehorn, including surface and shallow depth gold, and has previously been successfully mined by the current owner, Errin Kimbal, who joined Brookmounts board as Executive Director immediately.
BMXI is making a big move up the charts since reversing off $0.03 lows. The stock used to trade well over $1 and popped to highs of $1.50 in late 2020 when the share structure was roughly half of what it is today meaning the stock did maintain a market valuation of nearly $20 million as compared to $1 million today. BMXI has a lot going for it; for Q1 2022 BMXI reported net profit of $1.9 million, for the 3 months to 5/31/2022, compared with $1.3 million for the comparable period in the prior year, an increase of 46%. Revenue for the quarter was $4.6 million, up by 43% over the corresponding period in 2021. Total Assets increased to $26 million from $22 million at 9/30/2021 while shareholders’ funds increased to $24mm from $21 million over the same period. As the price of gold continues to rise BMXI should benefit with increased margins and higher revenues. BMXI is also in the process of applying for listing on Nasdaq or NYSE.
Completion of the PCAOB qualified audit of the 3 years of the Company’s financial statements . This will be the first key step in elevating the Company’s listed status to an approved exchange such as Nasdaq or the NYSE 2nd Board, which is a key component of our development plan over the next 12 months. Our CFO is currently reviewing the audit trail for our operations for the 2021 year, the prior 2 years having already been assembled. On completion, the 3 full years of financial statements will be delivered to our PCAOB qualified auditors, AJSH & Co. LLP for review on the Xero accounting platform, most likely at the end of May, 2022 and operating agreements covering both of our Indonesian assets have been reviewed.
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