Brazil Minerals, Inc. (OTC Pink: BMIX) is engaged within the exploration, development, and financing of mining operations focusing on gold and diamonds. Furthermore, the company looks for opportunities to obtain royalties and/or equity positions to expand its mineral portfolio. Shares of the mining company are soaring 71.43%, through early trading on Tuesday, June 4, 2019. Over the past month, Brazil Minerals has seen average daily volume of 11.95 million shares. However, volume of 81.63 million shares or dollar volume of $97,956, has already exchanged hands through early trading on Tuesday.
Shares of Brazil Minerals are soaring on Tuesday, after the company announced that it has received the last approval from Brazilian authorities, which allows the company to mine for gold and diamonds in the Jequitinhonha River Valley. A previously-announced drilling campaign in the area indicated 35 out of 35 drill holes showed signs of gold. Here is the full press release detailing of the mining approval:
Brazil Minerals, Inc. Press Release:
PASADENA, Calif., June 04, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – Brazil Minerals, Inc. (OTC: BMIX) (the “Company” or “Brazil Minerals”) announced today that 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 believes that the initial excavation to attain the level needed for auriferous and diamondiferous gravel removal will take six to eight weeks, after which regular processing should start.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: 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. The first equity holdings from such strategy is a 49% ownership in Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals is at www.brazil-minerals.com. More information on Jupiter Gold is at www.jupitergoldcorp.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Brazil Minerals, Inc.’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.