Why Is Brookmount Gold (OTCMKTS:BMXI) Stock Outperforming The Broader Market?

Due to the continued turmoil in the global markets, there has been considerable demand for gold and that has led to better times for companies involved in gold exploration. In the past weeks, Brookmount Gold (OTCMKTS:BMXI) has seen its stock come under intense focus from investors, in the past week alone it clocked gains of as much as 45%, and up to 80% for the past month.

The company was established back in 2018, and is regarded as a high-growth gold producer, which is listed on the OTC Markets in the United States. The company operates gold mines in Southeast Asia and also operates production and exploration assets in North America. At this point, Brookmount is on the active lookout for more high-quality gold assets.

Last week, the company announced that it had signed a binding Memorandum of Understanding (MoU) about the acquisition of a 75% interest in an active gold mine located in the Central Brazilian state of Tocantins. Brookmount would acquire the 75% interest in the mine from the United Kingdom-registered company Geoblocks Exploration Ltd.

The company is going to pay $500,000 within 30 days from the signing of the MoU and $4.5 million is going to be paid within 60 days from the signing of the definitive acquisition agreement between the two parties. Additionally, the company is also going to issue more restricted shares so that following the completion of this transaction Geoblocks gets 49% control of Brookmount shares.

 Back on January 24 this year, it had been announced that the board of directors of Brookmount had sent in a filing for the reduction of the authorized shares to the Secretary of State for Nevada. It was noted at the time that the filing of the same was geared towards the company's continuous efforts to make its capital structure more efficient and unlock more value for the shareholders.

The reduction in the authorized shares would not have any effect on the relative ownership situation or the outstanding shares of Brookmount. The Chief Executive Officer of the company, Nils Ollquist spoke about the move as well and noted that it was in the best interests of Brookmount’s shareholders.

The company has also been working extensively at getting the word out with regard to its work and its projects. Last month, the CEO of Brookmount went on a chat with Proactive studio host Elisha Newell and spoke about the history of the company.

He also spoke extensively about the history of the projects with which the company is involved. It was noted at the time that in 2023 was completely focused on its listing goals. The CEO is going to work on finalizing the final audit so that the company can move forward with its stock uplisting goals. It could well usher in the next stage of growth for Brookmount as a company.

Last October the company announced its financial results for the third fiscal quarter and the headline was that Brookmount had managed to boost its sales figures by 30% year on year. The company managed to bring in revenues to the tune of $4.53 million, which was a considerable improvement on the revenues of $3.49 million in the prior year period. The EBITDA grew by 39% year on year to hit $7.64 million.

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