Key highlights from the report (verbatim):
- Shares selling for a significant discount to peers. Shares are trading at a ~96% discount to peers on a multiple of sales, ~95% discount to earnings and a ~89% discount to book while book, earnings and sales are growing.
- Minor miss to estimates. The company reported 4Q22 revenue and EPS of
$3 .2MM and$0.03 , respectively (See Figure 2). We had been looking for revenue and EPS of$4 .6MM and$0.06 , respectively. There is no consensus. The unfavorable$0.03 EPS variance was primarily due to lower sales. On the earnings conference call, management explained the sequential downturn in sales was due to spending more time exploring better gold seams and partly due to an increase in its AU inventory in expectation of higher prices. - Balance sheet update. There was an increase in inventory, which management said was due to expectations of higher gold prices in subsequent months. Prices have since risen. There was an increase in PP&E that went into extending the life of its existing plant.
The report can be accessed by using the link provided below.
https://www.hillsresearch.com/wp-content/uploads/2023/03/BMXI4Q22-Edited.pdf
The report from
Mr. O’Neill’s investment thesis, methodology, disclaimers and disclosures can be found at the back of the report, available on our website at https://www.bmxigold.com/analysts
Theodore O’Neill, the CEO of
The company reported a revenue of
Founded in 2018, Brookmount Gold is a high-growth gold-producing Company incorporated and quoted on OTC Markets in
The company is quoted on the OTC Markets but has already announced its intention to file for uplisting on NASDAQ or NYSE American in the next few months after the completion of the three-year PCAOB Audit, expected by the end of
On February the 9th,
Investor Relations
ir@bmxigold.com
www.brookmountgold.com
Corporate
corporate@brookmountgold.com
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