web analytics
6.4 C
Munich
Wednesday, October 5, 2022

Brazil Minerals Inc (OTCMKTS: BMIX) On the Rise

Brazil Minerals Inc (OTCMKTS: BMIX) is making a fast move up after the Company announced it has obtained the last necessary approval from a regulatory entity in Brazil to allow mining for gold and diamonds in one of its many Jequitinhonha River Valley mineral rights. As announced previously, a drilling campaign within this project area indicated that 35 out of 35 drills holes were positive for gold. Additionally, in a majority of such drill holes, satellite markers that indicate the likely presence of diamonds were recovered.

Marc Fogassa, CEO of Brazil Minerals, commented, “This news is timely and very well received. We have built a strong local team that is able to work diligently through complex and changing requirements for licensing and permitting for mining. It’s beginning to bear fruit and we’re not stopping here as we want to be producing revenues from multiple mining sites in due time.”

Brazil Minerals Inc (OTCMKTS: BMIX) along with its subsidiaries has a business model focused on: 1) mining specific areas for gold and diamonds, and 2) generating projects from its portfolio of high quality mineral rights for transactions leading to royalties and/or equity positions. Our first equity holdings from such strategy is a 55% ownership in Jupiter Gold Corporation (OTC: JUPGF).

The Company’s diamond and gold operations and properties in the Jequitinhonha Valley area of the state of Minas Gerais in Brazil are in two subsidiaries, Mineração Duas Barras Ltda. (“MDB”) and RST Recursos Minerais Ltda. (“RST”).

MDB owns a large alluvial diamond and gold processing and recovery plant, capable of processing upwards of 45 tons of gravel per hour of operation. It is our best information that this plant was built by South African mining engineers hired for the task and cost $2.5 million to construct. It is regarded as the largest such plant in Latin America.

MDB has title to two mineral rights. One is a mining concession for diamond, gold, and sand (discussed below). The other, physically separated, is an area for which we have submitted the application to mine. Both of the MDB mineral rights are located on the left margin of the Jequitinhonha River in the State of Minas Gerais in Brazil. The Jequitinhonha River valley is a well-known area for diamond and gold production; it has hosted alluvial production since the 18th century.

MDB’s mining concession (“Concessão de Lavra”) covers an area of 422 acres. It allows for the exploration and commercialization of diamonds, gold, and sand. “Concessão de Lavra” is the highest level of mineral right in Brazil. MDB’s other mineral right covers an area of 982 acres. In February 2016, we filed with the mining department a detailed application with technical study for commercial mining of this area. We also filed the appropriate permit with the environmental department. We are monitoring both applications.

To Find out the inside Scoop on BMIX Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

Brazil Minerals has had its polished diamonds certified and graded at the Gemological Institute of America (“GIA”) in Carlsbad, California. The highest color grade has been “E”, the 2nd highest possible grade (the color scale starts at “D”). The best clarity has been “VVS1”, the 2nd best clarity possible. The majority of the Company’s diamonds have graded F-G for color and VVS2-VS2 for clarity, with weights between 0.4 and 2.0 carats. The Rapaport valuation of Brazil Minerals’ diamonds graded at GIA has been $3,250 per carat.

The last time BMIX popped in September of last year was after the Company announced it had struck gold in 35 of 35 drill holes in a Northern Minas Gerais Project. According to the Company they drilled 35 holes spaced 30 to 50 meters at one of its several mineral rights in the Jequitinhonha River Valley located in the northern part of the state of Minas Gerais in Brazil and the holes were positive for fine gold as observed by the drilling team, with samples collected for quantitative geochemical analysis. The average depth for the auriferous gravel layer was 8 meters and with a thickness between 1.5 to 9.3 meters.

We have a Monster Pick Coming. Subscribe Right Now!

Currently BMIX is pink sheets and their filings are unaudited. According to the Company they have $34k in the treasury, manageable debt and little revenues with no significant sales to date. BMIX looks to have some exciting projects in the works and there seems to be significant demand for the stock at current levels there continues to be dilution. BMIX is up after it announced it has obtained the last necessary approval from a regulatory entity in Brazil to allow mining for gold and diamonds in one of its many Jequitinhonha River Valley mineral rights. As announced previously, a drilling campaign within this project area indicated that 35 out of 35 drills holes were positive for gold. Additionally, in a majority of such drill holes, satellite markers that indicate the likely presence of diamonds were recovered. We will be updating on BMIX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with BMIX.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in BMIX either long or short and we have not been compensated for this article

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.