Sub penny stocks are known to go up 10000% on merger news. That will be the case if Brazil Minerals Inc merges with an American company alike which has been rumored to happen this month. The current price for Brazil Minerals Inc, (OTC: BMIX) is 0.00010 which is below a penny. Here is a break down on what the company is about…
Brazil Minerals, Inc. (OTC: BMIX) is a producer of diamonds, gold, sand, and industrialized mortar. The company also owns 30 mineral rights for gold and diamonds, including 10 mining concessions, the highest level of right to mine in Brazil.
Brazil Mineral’s short-term intention is to become a profitable company with virtually no debt.
Growth in Valuable Assets
BMIX progress has been steady, and can be measured in at least two quantifiable ways. First, in terms of mineral assets, in early 2013, the company’s initial year of operations under the current business model and management team, they had 3 mineral rights. Now BMIX has 30 mineral rights in its subsidiaries as follows:
i) 10 mineral rights that are mining concessions, the highest level of mineral right in Brazil (ìConcess„o de Lavraî) ñ all 10 mining concessions are diamond and gold, and once concession also includes sand as a mineral;
ii) 8 mineral rights for diamond and gold that have status just below mining concession (ìRequerimento de Lavraî), which allows the company to apply for both an upgrade to mining concession and to conduct limited commercial mining;
iii) 8 mineral rights for diamond and gold or solely gold in the research permit phase (ìAutorizaÁ„o de Resquisaî), and;
iv) 4 mineral rights for diamond and gold in the phase of application for research permit (ìRequerimento de Pesquisaî).
Growth in Product Mix
The second manner in which Brazil Minerals expanded as a company from 2013 to now is in the product mix output from our Brazilian subsidiaries. In 2013 the company produced and sold rough diamonds and gold. In 2014 they added polished diamonds. In 2015 BMIX added sand and mortar, a product made from their sand.
Deep Knowledge of Brazil & Strong Culture
Unlike most other listed mining companies operating in Brazil, BMIX team is comprised almost completely of Brazilians, all of whom have been hand-picked. The company’s CEO and Chairman spent years in the U.S. venture capital and private equity and has modeled the company with the essential entrepreneur tenets of hard-work, meritocracy, and frugality.
As of May 19, 2016 the registrant had 8,245,813,869 shares of common stock, par value $0.001 per share, issued and outstanding.
Shares held by the CEO (His salary is paid entirely in BMIX common shares): 1,174,384,716 as of 5/4/16
Shares held by Peter Goldy (Large investor who has been aggressively buying BMIX shares in the open market at high triple zero prices): 115,449,085 as of 7/27/15
BMIX owns 100% of MineraÁ„o Duas Barras Ltda. (ìMDBî), a Brazilian producer and seller of polished and rough diamonds, gold bars, and industrial-use sand. MDB operates a fully-operational mining concession with the largest alluvial processing plant for diamonds and gold in Latin America, and has the Brazilian permit to export its production.
BMIX also owns 50% of RST Recursos Minerais Ltda. (ìRSTî), a Brazilian company with 10 mining concessions and 12 other mineral rights for diamond and gold. Many of the RST areas are located near MDBís plant, and all of them are in the Jequitinhonha River valley, a well-known area for diamonds and gold for over two centuries.
RST property was acquired from two Brazilian individuals, unrelated to the company, 50% of RST for approximately $254,000. Previously in 2008, RST had been transacted for $10.5 million; the buyer paid $2 million and subsequently was unable to pay the remainder because of the global financial crisis. The RST mineral rights remained largely untouched until our acquisition.
Finally, on 4/29/16 Brazil Minerals announced that it obtained approval of a report regarding Apui/Borba gold project from the local mining department. BMIX’s Apui/Borba Project titled right covers 24,708 acres, a surface area that is 15% larger than the island of Manhattan in New York. The project has potential mineralization of 4.3 million ounces of go
BMIX Documented Reserves
In 2006-2007, then Toronto Stock Exchange Venture -listed Vaaldiam Resources Ltd. (ìVaaldiamî) spent an estimated $2.0 million for detailed drilling and technical studies leading to the NI 43-101 geological report and bankable feasibility of the property, as well as an estimated $2.0 million for removal of overgrowth on the property. The total cost of development of MDB by Vaaldiam is estimated at $10 million.
The link to the resultant NI 43-101 is below. Keep in mind that the official study was done for only 7% of the MDB’s total concession area. There is still a 93% chunk of MDB’s property that has not been officially assayed. And letís not forget about the 50% ownership in adjacent RST properties that include 10 mining concessions and 12 other mineral rights for diamond and gold.
Visit the official website for this company at http://www.brazil-minerals.com/
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