Company Profile: Brookmount Explorations, Inc. (OTC: BMXI)
Last updated September 17, 2026. Figures are as reported by the company.
| Ticker / market | BMXI, OTC Pink |
|---|---|
| Also known as | Brookmount Gold |
| Incorporated | Nevada |
| Business | Gold production in Indonesia; AI division added July 2026 |
| Shares outstanding | About 350 million (company-reported, March 2026) |
| Website | brookmountau.com |
What the company does
Brookmount operates two gold-producing properties in Sulawesi, Indonesia, where it took full operational control of its former joint ventures in December 2024. Its North American exploration assets, the Moosehorn project in Yukon and McArthur Creek in Alaska, were transferred in January 2026 to a newly formed company, North America Gold (NAG).
Recent developments
- July 20, 2026: completed an all-stock acquisition of Mentor AI Corp, a consumer platform offering AI-powered coaching for personal and professional development. Brookmount said its current officers and directors plan to resign, with Mentor AI president Ortega Jaen and his team expected to take over as directors and officers, subject to corporate approvals. Specific terms had not been published at the time of the announcement. This is a significant change in the company’s direction and control.
- March 24, 2026: reported fiscal 2025 results (year ended November 30, 2025): revenue of $19.75 million, up 7%, gross profit of $13.43 million and net income of $9.53 million.
- January to March 2026: completed the asset transfer and recapitalization of North America Gold. Brookmount shareholders are to receive a 35% interest in NAG, roughly 0.02 NAG shares per Brookmount share, and the company has said it is targeting an exchange listing for NAG.
- February 2026: retained Russell Bedford SBR to complete audits of fiscal 2023 and 2024, with plans to convert its financials from IFRS to US GAAP and file a Form 10 to become an SEC reporting company.
- October 2, 2025: reached a settlement with its convertible note lender that eliminates future stock conversions, with the remaining balance to be repaid by December 2026.
Key risks to understand
- Change of control and strategy: the Mentor AI transaction brings new management and an unrelated line of business, and its terms were not disclosed at announcement.
- Financial reporting: reported results have not been SEC-reviewed, and audits of prior years were still being completed in 2026.
- Dilution: shares outstanding rose from about 75.5 million in November 2023 to about 350 million by March 2026.
- Concentration: production comes from a single region of Indonesia, with the regulatory, logistical and environmental risks that involves.
- Market tier: OTC Pink securities have limited disclosure requirements, lower liquidity and higher volatility than exchange-listed shares.
Sources
- Brookmount completes acquisition of Mentor AI Corp (July 20, 2026)
- Brookmount agreement eliminating stock conversions (Oct. 2, 2025)
- Brookmount press releases
This profile is a factual summary compiled from company press releases and filings. It is not investment advice or a recommendation to buy or sell any security. See our disclaimer.
Earlier Vanderbilt Report analysis (2025)
Company Analysis
1. Company Overview
Brookmount Explorations, Inc. (BMXI) is a gold production and exploration company incorporated in Nevada. It owns and operates gold mining assets in:
● Indonesia (2 producing sites in Sulawesi)
● North America (Moosehorn Project – Yukon, and McArthur Creek – Alaska)
Strategy: Expand high-grade gold production, increase throughput, and consolidate ownership.
Recent Development: As of December 2024, the company assumed full operational control of its Indonesian joint ventures.
2. Risk Summary
Operational Risks
● High dependency on Indonesian production (single-region concentration)
● Exposure to natural, regulatory, and geopolitical risks in emerging markets
● Logistical and environmental complexity in remote rainforest mining
Financial Risks
● Heavy reliance on convertible debt financing for working capital
● Share dilution risk due to frequent discounted conversions
● Cash position declined from $339k (Nov 2024) to $57k (May 2025)
● Negative cash flow from operations in Q2 2025
Governance Risks
● Pending litigation from Director Jeffrey Pittman seeking board oversight and appointment of a receiver (as of May 2025)
● Concentrated control among insiders and related entities (e.g., Leonite Capital, Seminal Church, Gennex)
3. Shareholder Report
Major Shareholders (as of May 31, 2025)
| Name | Role | Shares Owned | Ownership % |
| Jeffrey Pittman | Director (via Seminal Church) | 7,500,000 | 4.53% |
| Errin Kimball | Director (via Gennex Corp) | 4,750,000 | 2.87% |
| Nils Ollquist | CEO | 4,684,210 | 2.83% |
| Christopher Lim | CFO (via Pty Ltd) | 1,050,000 | 0.63% |
| Nicholas Medway | Secretary | 841,707 | 0.51% |
Share Structure
● Outstanding Shares:
○ Nov 2023: 75.5M
○ May 2025: 180.9M (+139% increase)
● Public Float: ~114M shares (as of May 2025)
● Frequent equity issuance and debt conversions to Leonite Capital and AES Capital
4. Debt and Liquidity Assessment
Summary (as of Q2 2025)
● Convertible Notes (Total): $819,199
● Accounts Payable: $642,000
● Cash: $57,000
● Total Liabilities: $1.79M
● Interest Expense (Q2): $81,000
● Numerous convertible promissory notes issued to Leonite Capital and AES Capital
● Most notes carry low conversion prices (~$0.75/share)
● Land Usage Rights increased from $12.6M to $45M due to transfer of JV assets to Brookmount’s full control
● Cash flow from operations (Q2 2025): negative ($47k)
5. Key Financial Highlights
FY 2024 (Ending Nov 30)
● Revenue: $18.45M
● Net Income: $9.17M
● Total Assets: $53.6M
● Cash: $339k
Q2 FY 2025 (Ending May 31)
● Revenue: $3.75M
● Net Income: $1.19M
● Cash: $57k
● Inventory: $2.13M
● Funds Held by JV ($30.5M) transferred to Land Usage Rights
6. Stability and Risk Opinion
Risk Rating: HIGH
Justification:
● Liquidity Stress: Declining cash and negative operating cash flow signal short-term financing pressure
● Governance Concerns: Active internal litigation; rising influence of related entities (Leonite, Gennex, Seminal)
● Financial Leverage: Ongoing debt issuance and conversions, limited refinancing options
● Operational Focus: Overdependence on Indonesian operations without fully commercialized North American assets
● Share Dilution: 2.4x increase in shares within 18 months indicates pressure on shareholder value
7. Recommendations for Investors
● Monitor future share issuances or debt conversions, particularly involving Leonite Capital and AES Capital
● Watch the progress of Jeffrey Pittman’s litigation
● Track development progress of North American assets (Moosehorn and McArthur Creek)
● Review Land Usage Rights for valuation accuracy and reclassification implications
● Consider dilution risks and financial sustainability before investing
Email Reach us anytime.
Investor Relations – ir@bmxigold.com
Corporate – corporate@brookmountgold.com
Phone – +1 775 234 5221
Office – 1 East Liberty Suite 600,Reno, NV 89501
https://www.brookmountgold.com/
