LOS ANGELES, July 11, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC:BMXI) announced that The Company has reported net profit in excess of $350k on revenue of $805k for the 3 months to May 31, 2018. Whilst the reporting period straddles the traditional summer rainy season in northern Indonesia, the Company was able to maintain and improve operating performance as higher processing yields from heap leaching based production offset longer processing cycles induced by the wet conditions.
As discussed in pervious operating updates, the introduction of Chinese trained, highly skilled chemical engineers into the key production areas of northern Minahasa Province over the past year has seen a marked improvement in operating yields with recovery percentages from medium ore grades increasing by up to 50% as the chemical composition of leaching fluid and length of operating cycles are continually fine tuned.
The directors confirmed continuation of ongoing efforts to improve yields and expansion of The Company’s reserve of recoverable ore through acquisition of additional high yielding acreage in the region. Management is also reviewing a number of possible acquisitions in other South East Asian countries, details of which will be shared with our stakeholders in future progress updates.
Brookmount conducts its gold mining and processing operations through its Indonesian subsidiary incorporated in Sulawesi Province, Republic of Indonesia, one of Asia most dynamic and rapidly expanding economies with extensive reserves of natural resources and minerals including timber, coal, gold and hydrocarbons.
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