Diamonds, gold, politicians and a penny stock, all in the land where bikinis get their justice on the most incredible “hot bods” the world knows. That’s pretty much a summary of what traders need to know when considering either an investment into or just adding Brazil Minerals, Inc. (OTC: BMIX) to the list of OTC stocks to watch. Called simply minerals by those in Brazil, BMIX stock had its first true volume trading session today and experienced a significant price reduction allowing speculators to begin considering entry points. With a former U.S. Secretary of State and another one an Ambassador as a recent BoD electees, is this development stage miner ready to shine bright like a diamond?
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BMIX Stock Quote
Market Cap: 42.12M
Last: 0.602 ▼ -0.398 (-39.80%)
Dollar Volume: $29,388
Issued and Outstanding: 69,963,434
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Hooked up with Hunter Wise Securities, LLC, is an international FINRA licensed investment bank, and with a money making diamond and gold processing plant built by the previous owner of the mining concession, Vaaldiam Mining Inc. (TSE:VAA), Brazil Minerals already is starting to look like a sexy penny stock. After today’s price adjustment and minimal volume, it looks like BMIX stock is ready to rock and roll.
Back in 2008, Forbes pointed out how mining companies were starting to tap Brazil (and Paraguay) for their diamond deposits, reactivating an industry that was overshadowed by the dominance of South Africa in the early 20th century. Between for over 130 years, Brazil drove the international diamond trade until, in 1860, the Portuguese crown declared a royal monopoly on all diamond mining in the country and levied heavy taxes on mining concessions.
While the “black diamond” trade was known to be rampant in Brazil due to the extremely high tariffs and taxes imposed, economic growth and political stability have allowed for legal access by international companies like Vaaldiam Mining to invest time and resources into an industry for the rich and famous.
Brazil Mining has a 20% share of the monthly diamond production in the Duas Barras mining concession with its diamond and gold processing plant. The plant, built by the previous owner of the mining concession, Vaaldiam Resources Ltd., is located on the left bank of the Jequitinhonha River, approximately 250 kilometers north of Belo Horizonte, the state capital.
Hosting alluvial mining operations on all scales since the 18th century, the Jequitinhonha River is a well-known area for diamond and gold production. With construction costs that were roughly $2.5 million, the diamond and gold processing plant at Duas Barras is the largest such type of alluvial recovery plant in Latin America and is functioning below capacity at present, but still producing diamonds and gold by its 9 employees.
Back in February, Dr. Marc Fogassa, Brazil Mining’s CEO and Chairman, found some righteous company when the BoD was expanded to three members with the election of Ambassador Roger Noriega, former U.S. Assistant Secretary of State, and Ambassador Paul Durand as new directors. Not that you need to have politicians as a requirement on your BoD when conducting a pump, but the front men make BMIX look all that much safer, especially if the PPS starts heading towards $3 and $4 down the road.
About BMIX Stock
Brazil Minerals, Inc., percentage ownership of production of Duas Barras, the largest alluvial diamond and gold processing plant in Latin America, is a producer of alluvial diamonds. The Company also owns the mining rights to the Borba Project, a gold exploration project in the Amazon area in Brazil.
Previous 5 Trading Sessions:
Bottom Line: BMIX is a lock to become on of the hottest penny stocks on the OTC markets. Is it time to get in and is 0.602 price the best entry position for BMIX stock? Chances are, based on the being incubated by Thomas E. Stepp, Jr. of the Stepp Law Corporation, this one won’t be sitting around collecting dust for very long, just like Solo International (SLIO), another incubation filled with Polish insiders before being pumped.
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