www.bullionmm.com
Bullion Monarch Mining Inc. is a natural resource company that acquires mining properties to explore and develop. Bullion’s goal is to see the properties produce through joint ventures, leases, or sales. Bullion Monarch has recently undergone a reorganization and is now known as Bullion Monarch Mining, Inc. The company’s new trading symbol is BULM. Bullion believes it has excellent mining properties in Northern Nevada and throughout the Western United States. Newmont’s new, large Leeville underground mine and he East Ore Body Mine are currently producing royalty payments to Bullion. The company also acquired a 60% interest in EnShale, Inc. in 2005 (now 80%) in order to profit from the growing demand for oil by mining and processing oil shale into oil products. The Company currently has under lease 4,650 acres of oil shale property in the mahogany zone.
Bullion Monarch third quarter revenues rise as royalty income from Newmont operation jumps
Precious metals royalty and resource development company, Bullion Monarch Mining (OTC:BULM) announced record quarterly revenue of US$1.5 million for the company's third quarter ended January 31, 2010 (Q3 2010), up approximately 49% from the same period in 2009.
The jump in revenues was due to increased grades and volume at the Leeville underground gold mine in Nevada’s Carlin Trend , which is operated by Newmont Mining (NYSE:NEM). Bullion Monarch has a 1% royalty gross smelter royalty from the area that includes not only the Leeville Mine, but the Four Corners deposit and North Lantern deposit, but which are being developed by Newmont, Bullion Monarch stated.
"Bullion Monarch remains profitable, debt free and continues to invest in mining projects from cash flow in order to avoid dilution of shareholder equity,” Don Morris, President and CEO of Bullion Monarch stated this morning, “We have never been more confident about the long-term stability or future growth potential of this company."
Bullion Monarch Mining, incorporated in 1948, merged in 1969 with M.M & S Exploration, which was founded by the father of Don Morris, the current CEO and President of Bullion Monarch. M.M & S was a pioneer in the Carlin gold belt of Nevada, which contains around 200M ounces of gold and which, with cumulative production to date of around 75M ounces has produced more gold than any other mining district in the United States.
Bullion’s current business model is to explore and acquire land positions, either in close proximity to major mining operations or on properties with known deposits, and to obtain production and revenues from them, either by sales with retained royalties or joint ventures, so that it can keep liabilities and expenses low, and profit potential high.
Since 2006 the company has also expanded its focus from gold to include oil shale through its acquisition of 80% of EnShale Inc, which holds mineral rights to 4,650 acres of Eastern Utah and a proprietary technology for extracting oil from oil shale. Bullion’s current portfolio now comprises interests in six projects in the US and two in Brazil.
