Wednesday, July 21, 2010
Tuesday, July 20, 2010
Bullion Monarch Mining Reports Record Annual Revenue
http://www.marketwatch.com/story/bullion-monarch-mining-reports-record-annual-revenue-2010-07-20?reflink=MW_news_stmp
ST. GEORGE, UT, Jul 20, 2010 (MARKETWIRE via COMTEX) -- Bullion Monarch Mining /quotes/comstock/11k!bulm (BULM 0.62, +0.01, +1.64%) recorded its best revenue year ever, with record revenue of $5,214,603 in fiscal 2010. This increase in revenue of $1,414,713 from a fiscal year 2009 is due to increased production and an increase in the average price of gold. An advantage of Bullion Monarch's royalty portfolio is that it requires relatively limited capital and incurs only minor direct operating costs.
Newmont Mining's Leeville Mine, from which Bullion Monarch receives a 1% GSR royalty, increased gold production targets to 500,000 ounces annually. Royalty payments from this mine are projected to continue for 10 plus years, based upon estimates publicly disseminated by Newmont.
The net comprehensive income totaled $1,019,906 in fiscal year ended April 30, 2010, compared to $1,766,949 for the fiscal year ended April 30, 2009. Bullion Monarch recorded net income per share of $0.02 for the 2010 period, compared to $0.04 for the 2009 period. Net income decreased during the year largely due to a $500,000 buy down relating to capping attorney contingency pay on the Newmont and Barrick area of interest litigation and an increase in legal and accounting expense relating to a one-time succession accounting revision.
Due to record revenue, Bullion Monarch was able to accelerate exploration payments on its Brazil properties totaling $1,593,235 of its $2 million total commitment. Bullion Monarch Mining also has the right to convert its 33.33% interest to a 4.5% NSR royalty. During the fiscal year ended April 30, 2010, its total assets increased to $5,033,169 compared to $3,993,026 at April 30, 2009.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a gold-focused royalty company with additional interests in oil-shale technology and other assets. Bullion Monarch seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest. The company is engaged in a continual review of opportunities to create new royalties or participating interests through the financing of mine development or exploration, or to acquire companies that hold royalties. The majority of current revenues are derived from a high-quality royalty claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch also has an interest in various mineral assets in North and South America in the exploration and development stages, which have the potential to generate future royalty or other revenues. Bullion Monarch Mining is also developing a process through its subsidiary, EnShale Inc. ("EnShale"), which they believe can extract the oil content from oil shale on a commercially reasonable and economically beneficial basis. Our management's goal is to establish a self-funded natural resource company focused on exploring for and developing world class gold opportunities. The company internally funds the oil shale technology subsidiary, EnShale Energy, as well as ongoing gold exploration projects. Bullion Monarch benefits from its royalty stream, presently generating in excess of $5,000,000 annually, and is working to monetize the substantial oil-shale assets through EnShale Energy. The royalty portfolio generates high-margin free cash flow with lower exposure to operating and capital costs than operating companies. Bullion Monarch's portfolio also provides for direct leverage to commodity prices and the exploration potential of world-class ore deposits and mineral exploration trends where we have existing royalty interests. Management believes that a diverse portfolio of royalty interests provides our shareholders with a higher risk-adjusted return through the commodity cycle than direct operating interests in mining properties. Visit the company website at www.bullionmm.com for more information.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995.
Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained in this report contains "forward-looking statements' which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "seem," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statements was made. Investors should carefully consider the preceding information as well as information contained in the report before making any investment in the shares of the company. The full 10k filing referenced in this press release is available at sec.gov or bullionmm.com for complete information. Bullion Monarch Mining, Inc. or its subsidiary EnShale Inc. undertakes no obligation to update any forward-looking statements contained in this report. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy or sell any security.
Investor Contact Information
Rob Morris
robmorris@bullionmm.com
(801) 426-8111
Media Contact Information
AJ Sterling Consulting
info@bullionmm.com
(435) 669-3855
ST. GEORGE, UT, Jul 20, 2010 (MARKETWIRE via COMTEX) -- Bullion Monarch Mining /quotes/comstock/11k!bulm (BULM 0.62, +0.01, +1.64%) recorded its best revenue year ever, with record revenue of $5,214,603 in fiscal 2010. This increase in revenue of $1,414,713 from a fiscal year 2009 is due to increased production and an increase in the average price of gold. An advantage of Bullion Monarch's royalty portfolio is that it requires relatively limited capital and incurs only minor direct operating costs.
Newmont Mining's Leeville Mine, from which Bullion Monarch receives a 1% GSR royalty, increased gold production targets to 500,000 ounces annually. Royalty payments from this mine are projected to continue for 10 plus years, based upon estimates publicly disseminated by Newmont.
The net comprehensive income totaled $1,019,906 in fiscal year ended April 30, 2010, compared to $1,766,949 for the fiscal year ended April 30, 2009. Bullion Monarch recorded net income per share of $0.02 for the 2010 period, compared to $0.04 for the 2009 period. Net income decreased during the year largely due to a $500,000 buy down relating to capping attorney contingency pay on the Newmont and Barrick area of interest litigation and an increase in legal and accounting expense relating to a one-time succession accounting revision.
Due to record revenue, Bullion Monarch was able to accelerate exploration payments on its Brazil properties totaling $1,593,235 of its $2 million total commitment. Bullion Monarch Mining also has the right to convert its 33.33% interest to a 4.5% NSR royalty. During the fiscal year ended April 30, 2010, its total assets increased to $5,033,169 compared to $3,993,026 at April 30, 2009.
About Bullion Monarch Mining
Bullion Monarch Mining Inc. is a gold-focused royalty company with additional interests in oil-shale technology and other assets. Bullion Monarch seeks to acquire existing mineral royalties or to finance mining projects that are in production or in development stage in exchange for royalty interests or a participating interest. The company is engaged in a continual review of opportunities to create new royalties or participating interests through the financing of mine development or exploration, or to acquire companies that hold royalties. The majority of current revenues are derived from a high-quality royalty claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch also has an interest in various mineral assets in North and South America in the exploration and development stages, which have the potential to generate future royalty or other revenues. Bullion Monarch Mining is also developing a process through its subsidiary, EnShale Inc. ("EnShale"), which they believe can extract the oil content from oil shale on a commercially reasonable and economically beneficial basis. Our management's goal is to establish a self-funded natural resource company focused on exploring for and developing world class gold opportunities. The company internally funds the oil shale technology subsidiary, EnShale Energy, as well as ongoing gold exploration projects. Bullion Monarch benefits from its royalty stream, presently generating in excess of $5,000,000 annually, and is working to monetize the substantial oil-shale assets through EnShale Energy. The royalty portfolio generates high-margin free cash flow with lower exposure to operating and capital costs than operating companies. Bullion Monarch's portfolio also provides for direct leverage to commodity prices and the exploration potential of world-class ore deposits and mineral exploration trends where we have existing royalty interests. Management believes that a diverse portfolio of royalty interests provides our shareholders with a higher risk-adjusted return through the commodity cycle than direct operating interests in mining properties. Visit the company website at www.bullionmm.com for more information.
"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995.
Certain statements contained in this report constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Information contained in this report contains "forward-looking statements' which can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "should," "up to," "approximately," "seem," "likely," or "anticipates" or the negative thereof or given that the future results covered by such forward looking statements will be achieved. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only for the date the statements was made. Investors should carefully consider the preceding information as well as information contained in the report before making any investment in the shares of the company. The full 10k filing referenced in this press release is available at sec.gov or bullionmm.com for complete information. Bullion Monarch Mining, Inc. or its subsidiary EnShale Inc. undertakes no obligation to update any forward-looking statements contained in this report. This press release is for informational purposes only and is not and should not be construed as an offer to solicit, buy or sell any security.
Investor Contact Information
Rob Morris
robmorris@bullionmm.com
(801) 426-8111
Media Contact Information
AJ Sterling Consulting
info@bullionmm.com
(435) 669-3855
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