Bullion Monarch Mining Reports A Per Share Increase In Net Income Of 142%
ST. GEORGE, Utah, Aug. 1, 2011 /PRNewswire/ -- Bullion Monarch Mining, Inc. (OTCQB: BULM) is pleased to announce, as evidenced in their recently filed 10-K report, net income of $0.05 per share for their Fiscal Year ended April 30, 2011 period. This compares to $0.02 per share for the previous fiscal year.
Bullion Monarch President James A. Morris states, "We continue to deliver positive financial results and asset growth for our investors. Our uniquely profitable business model allows for a tight capital structure, while exploiting the potential of world-class exploration projects."
Net income in the fiscal year ended April 30, 2011, totaled US $1,962,404, an increase of one hundred forty-two percent (142%) over the fiscal year ended April 30, 2010, when net income of $811,393 was posted.
Operating income of $2,960,069 for the fiscal year ended April 30, 2011, compared to operating income of $2,389,144 for the fiscal year ended April 30, 2010, represents a year over year increase of twenty-four (24%) percent.During the fiscal year ended April 30, 2011, our total assets increased to $10,873,540 compared to $5,033,169 at April 30, 2010. The increase in total assets was primarily a result of our acquisition of the Brazilian gold mining and exploration company, Dourave. Bullion Monarch Mining has previously announced that it posted another annual revenue record in FY2011, with revenue of US $6,289,315. This is an increase of over twenty percent (20.6%). The increase in revenue of $1,074,712 was primarily due to increased gold prices, coupled with sustained production from Newmont mines operating on our Carlin Trend Royalty claim block. Royalty income in FY2011 was generated based on an average gold price of $1,318 per ounce. Currently gold is trading over $1,600 per ounce. The price of gold has a direct impact on Bullion Monarch's royalty revenue. About Bullion Monarch Mining Bullion Monarch Mining Inc. is a publicly traded (OTCQB: BULM (FRA: BMJ)) gold-focused exploration royalty company with additional interests in bauxite and oil-shale technology. The Company is engaged in a continual review of mining opportunities to create growth for shareholders. The majority of current royalty revenues are derived from a high-quality claim block located in Northeastern Nevada's Carlin Trend. Bullion Monarch's portfolio provides for direct leverage to commodity prices as well as the exploration potential of world-class ore deposits. Visit the Company website at www.bullionmm.com for more information. Investor Relations Contact Joseph Morris email@example.com (801)426-8111 "Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995. Statements made in this press release about us that are not purely historical are forward-looking statements with respect to our goals, plan objectives, intentions, expectations, financial condition, results of operations, future performance and business, including, without limitation, statements preceded by, followed by or that include the words "may," "would," "could," "should," "expects," "projects," "anticipates," "believes," "estimates," "plans," "intends," "targets" or similar expressions. Forward-looking statements involve inherent risks and uncertainties. Important factors, many of which are beyond our control, could cause actual results to differ materially from those set forth in the forward-looking statements, including but not limited to the following: general economic or industry conditions, nationally and internationally; increases or decreases in the prices of metals; changes in the interest rate environment, legislation or regulatory requirements; conditions of the securities markets; our ability to raise capital when required; changes in accounting principles, policies or guidelines; financial or political instability; acts of war or terrorism; and other economic, competitive, governmental, regulatory and technical factors affecting our operations, products, services and prices, among others. Accordingly, results actually achieved may differ materially from expected results in these statements. Forward-looking statements speak only as of the date they are made. We do not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such statements. Investors should carefully consider the preceding information as well as information contained in the Company's Form 10 Registration Statement before making any investment in the shares of the Company. Neither Bullion Monarch Mining Inc. nor its subsidiaries, undertake any obligation to update any forward-looking statements contained in this press release. 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.
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