Bullion Monarch Mining, Inc. (BULM.OB) Posts Record Profits for Fiscal Year 2009
QualityStocks (August 18th, 2009) Writes:
Bullion Monarch Mining, Inc. is a domestic natural resource company with interests in gold and oil shale. The company has mining properties in Nevada and elsewhere in the western United States. The company also has an 80% interest in EnShale, an oil shale company with properties in Utah, Wyoming and Colorado.
Bullion Monarch Mining continues its impressive growth with revenues for fiscal year 2009 increasing approximately 40% from 2008, earning approximately $0.04 per share. Net income for the company increased by 210% to $1,679,292, as compared to $541,485 in 2008.
Bullion Monarch’s largest revenue source continues to be from a 1% royalty from gold mining giant, Newmont Mining. Newmont’s new, large Leeville underground mine and the East Ore body mine are currently producing these royalty payments to Bullion Monarch. Both of these mines are located in northern Nevada’s legendary Carlin Trend. Bullion Monarch had been the first company to construct and operate
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