Brookmount Explorations, Inc. Reports Expansion of Processing Capacity
LOS ANGELES, July 24, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE - Brookmount Explorations, Inc. (“Brookmount”), a Nevada incorporated company (OTC:BMXI) announced that The Company has commenced construction of a new leach pad facility as part of a sustained program to expand processing capacity at its 8 hectare gold ore reserve in Northern Indonesia. With recent improvements in processing technology, management is moving to capture significantly higher ore recovery rates by expanding the volume of ore processed. The Company currently operates one 5,000 tonne capacity pad which runs on a production cycle of around 18 days. Yield from this pad is currently in the region of 3-5kg of pure (99%) gold worth $120k to $300k at current prices. On completion of the new 10,000 tonne capacity pad, The Company will operate continuous production cycles during the month as down time during loading and unloading of leach pads will be staggered. Utilizing higher grades of ore, from recently acquired reserve acreage adjacent to The Company’s existing property, on the new, higher capacity pad, management is targeting yields of 8-12 kg ($320k-$480k at current prices), per production cycle of 21 days. Excavation has commenced on the new pad and completion, including plastic sheeting, new plumbing, installation of high capacity pumps and tailing ponds is anticipated by the end of August with initial production run taking place in September. The new facility should have significant positive impact on The Company’s profitability from the December quarter onward.
The Company will provide a further update to shareholders on this initiative in the next few weeks.
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.
Safe Harbor Statements:
Except for the historical information contained herein, certain of the matters discussed in this communication constitute “forward-looking statements” within the meaning of the Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,” “should,” “could,” “anticipate,” “estimate,” “expect,” “predict,” “project,” “future,” “potential,” “intend,” “seek to,” “plan,” “assume,” “believe,” “target,” “forecast,” “goal,” “objective,” “continue” or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. These forward-looking statements include, but are not limited to, statements regarding benefits of the proposed license, expected synergies, anticipated future financial and operating performance and results, including estimates of growth. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. For example, the expected timing and likelihood of completion of the pending transaction, including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the pending transaction that could reduce anticipated benefits or cause the parties to abandon the transaction, the ability to successfully integrate the businesses, the occurrence of any event, change or other circumstance that could give rise to the termination of the negotiations, the risk that the parties may not be able to satisfy the conditions to the proposed transaction in a timely manner or at all, risks related to disruption of management time from ongoing business operations due to the proposed transaction, the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of Brookmount’s common stock. All such factors are difficult to predict and are beyond our control. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this report, except as required by applicable law or regulations.
For more information:
Brookmount Explorations, Inc.
Tel: 213.266.7661
