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Sunday, December 4, 2022

The Inside Track on Brazil Minerals Inc (OTCMKTS: BMIX)

Brazil Minerals Inc (OTCMKTS: BMIX) has made a big move 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.

BMIX jumped after the news off its $0.0008 lows and did significant volume making it into the top 25 most traded stocks on the OTCBB.

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.

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The Company also acquired 50% of RST which has title to 9 mining concessions and several other mineral rights, as seen in table attached above. All of RST areas are for diamonds and some for gold as well. All of them are located in the Jequitinhonha River valley in the northern part of the state of Minas Gerais, Brazil. Some of the RST areas, including one that is potentially very rich in diamonds and gold, is located next to MDB’s plant and mining concession.

Earlier this year BMIX reported the successful production of an initial batch of polished diamonds from rough gems that it recovered from diamondiferous gravel using modular processing plant technology. These diamonds were mined within one of its mining concessions in the Jequitinhonha region of the state of Minas Gerais in Brazil. The Company has over twenty mineral rights for diamonds in some of the best locations in Brazil. Photographs of polished diamonds from such production are attached to this release.

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.

BMIX exploded after they announced on September 18 it had concluded an extensive drilling campaign of one of its several mineral rights in the Jequitinhonha River Valley located in the northern part of the state of Minas Gerais in Brazil. The Company drilled 35 holes spaced 30 to 50 meters utilizing a Banka 4-inch drill. All 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.

The target area which was studied in this drilling campaign is an alluvial plain along the Jequitinhonha River, an area known for placer mining for gold and diamonds. Marc Fogassa, CEO of the Company, commented, “Finding gold in 35 out of 35 drill holes is a strong result. We focused our drilling campaign in a virgin area that was relatively close to old settler activity which is usually an effective marker. Most importantly, we have been able to acquire critical data to guide us in the forthcoming mining site planning and development.”

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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. While BMIX looks to have some exciting projects in the works and there seems to be significant demand for the stock at current levels. There also looks to be some dilution. 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.

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

Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.

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1 COMMENT

  1. The company has an educated local team working at the location, the useful choices made to expand should impress both existing and Future owner’s of Bmix stock. I believe this is a rising Gold, Diamond’s and minerals exporters on the rise . Shareholder

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