... it's a big blue watery road ...
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We shall see ;)
Take care!
BMIX
This is moving! It’s been awhile since I saw a penny stock trading THIS THIN! This means no dilution!
BMIX
Damn, this thing is heating up right into the close! Maybe PR in AM?
BMIX
Aaaaand 21x22 it is. We are headed for a second high-volume green day in a row.
BMIX
Last call on those 21s.
BMIX
20x21. The float will get locked in soon enough.
BMIX
Like I said, folks were waiting for profit takers to fill them but are now jumping in at the ask to avoid missing out on that potential bomb PR in the AM.
BMIX
For all the newcomers to the board, begin with the post below -->
$BMIX ALL-IN-ONE DD **START HERE** 7/6/19
*** NEW in this update: 1) Added the photos of the mining site obtained from the company (at the end of "The Projects" section) 2) Updated the most current OS from the OTC Markets website (verified by TA as of 7/1).
TABLE OF CONTENTS
1) The Company
2) The Projects
3) The People
4) Frequently Asked Questions
1) The Company
Brazil Minerals, Inc. with its subsidiaries has two components to its business model: (1) growing a portfolio of mineral rights in a wide spectrum of strategic and sought-after minerals, from which equity holdings and/or royalty interests will develop, and (2) mining certain specific areas for gold, diamonds, and sand.
The company's progress as an exploration project generator has been steady. In early 2013 Brazil Minerals owned mineral rights for gold and diamonds. Since then the company has grown several-fold its bank of high-quality mineral properties to currently include mineral rights for gold, diamonds, cobalt, copper, lithium, manganese, nickel, precious gems (aquamarine, beryl, tourmaline) and sand.
BMIX's first equity holdings from their exploration project generation strategy is Jupiter Gold Corporation. Jupiter Gold has been a public company since December 16, 2016.
Share Structure:
O/S: 868,086,832 as of 7/1/19 (OTC Markets Website, Verified by Transfer Agent)
https://www.otcmarkets.com/stock/BMIX/security
Shares held by the CEO Marc Fogassa (He converted the salary owed to him by the company into COMMON shares of BMIX): 252,845,670 as of 4/15/19
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148242339
Shares held by other company affiliates: 251,176,014 as of 4/15/19 (10-K Filing, Page 30)
https://ih.advfn.com/stock-market/USOTC/brazil-minerals-inc-BMIX/stock-news/79701359/annual-report-10-k
Estimated float (Total outstanding count minus all affiliate shares accounted for in the official filings): 868,086,832 - 504,021,684 = 364,065,148
A/S: 950,000,000
Brazil Minerals Website: http://www.brazil-minerals.com/
Jupiter Gold Website: http://www.jupitergoldcorp.com/ (BMIX owns 49% of Jupiter Gold)
YouTube Channel: https://www.youtube.com/channel/UChcTI9t1v-E-9MJ7mMtH_tA
Facebook: https://www.facebook.com/brazilmineralsbmix
LinkedIn: https://www.linkedin.com/company/brazil-minerals-inc-
2) The Projects
I. PINDAÍBA PROJECT - FINAL MINING APPROVAL ANNOUNCED ON 06/04/2019! AURIFEROUS & DIAMONDIFEROUS GRAVEL PROCESSING TO BEGIN AFTER 6-8 WEEKS OF INITIAL EXCAVATION!
Minerals: Gold (50% of revenues belong to Brazil Minerals and 50% to Jupiter Gold) & Diamonds (100% of revenues belong to Brazil Minerals)
Location: Olhos-d'Água, state of Minas Gerais
Area: 1,310 acres
Highlights:
• Extensive drilling campaign conducted by Brazil Minerals and concluded in Q3 2018.
• 35/35 of drill holes were visually positive for gold.
• 57% of drill holes had high-probability diamond recovery; a “diamond-rich” zone was identified in the area.
• Results support open-sky mining.
• The target area studied in this drilling campaign is an alluvial plain along the Jequitinhonha River Valley, an area known for placer mining for gold and gem-quality diamonds for over two hundred years.
• Pindaíba is a storied mineral rights area which at one point had thousands of settlers along its river margin prospecting for diamond. Old settler activity is usually a strong indication of robust mineralization.
• Old settler activity does not diminish the recoverable gold and diamonds from Brazil Minerals’ Project, as settlers prospected at the river margin with rudimentary tools and, by law, regulated mining must be done at least 100 meters from the margins of this river.
• A royalty agreement with Jupiter Gold by which Brazil Minerals will use Jupiter Gold’s recovery plant for processing entails that Brazil Minerals will keep 50% of the revenues from gold and 100% of the revenue from diamond with respect to the Pindaíba Project.
In September 2018, Brazil Minerals announced the conclusion of an extensive drilling campaign of a portion of the mineral right of the Pindaíba Project. It was reported that Brazil Minerals drilled 35 holes spaced 30 to 50 meters utilizing a Banka 4-inch drill. All 35 holes were positive for fine gold as observed by our drilling team, and samples were 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.
Brazil Minerals also announced that this extensive drilling campaign yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. Further analysis of the campaign’s results and inspection of collected samples indicated the existence of a diamond-rich zone within the drilled area. Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone.
II. JEQUITINHONHA PROJECT
Minerals: Gold, Diamonds, Sand (for construction)
Location: Olhos-d'Água and Diamantina, state of Minas Gerais
Area: 26,645 acres
Highlights:
• Brazil Minerals owns 9 mining concessions and 10 pre-mining concessions. A mining concession if the highest level of mineral right title in Brazil. It permits mining in perpetuity as long as environmental licensing is kept current and mining guidelines are followed.
• This collection of mineral rights covers more than 60 miles of mineral rights alongside the banks of the Jequitinhonha River, a well-known area for gold and diamonds for over 200 years.
• Gold and diamonds appear together in alluvial material; mining is open-sky, year-round.
Brazil Minerals, through subsidiaries, has 31 mineral rights for diamond, gold, and sand, on and near the margins 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.
One of our mineral rights, covering 422 acres, is called “Duas Barras”, a mining concession for diamond, gold and sand. Our concession, awarded by the Brazilian federal government through the Brazilian mining department, is the highest level of mineral right in Brazil. It permits us to mine in perpetuity provided that environmental licenses are kept current and that mining guidelines are followed.
Mineralization
Vaaldiam, the previous owner of this mining concession, and at that time a publicly-traded Canadian company, performed detailed geological studies leading to the publication of an NI 43-101 technical report in 2007, with an update in 2008, as required by the rules of the Canadian securities administrator and filed in SEDAR. The NI 43-101 report describes the existence of mineralized materials amounting to 1,639,200 cubic meters with the following concentrations: 0.16 carats of diamonds per cubic meter and 182 milligrams of gold per cubic meter. Vaaldiam also submitted a bankable feasibility study to the Brazilian mining department in accordance with local regulations.
The link to the resultant NI 43-101 is below. Keep in mind that the official study was done for only 7% of the Duas Barras total concession area. There is still a 93% chunk of the property that has not been officially assayed.
https://xmbl.files.wordpress.com/2014/07/duas-barras-ni-43-101.pdf
What the heck is NI 43-101? Read below:
https://en.wikipedia.org/wiki/National_Instrument_43-101
Excerpt from the BMIX NI 43-101:
To fully appreciate the magnitude of the BMIX potential in just of their projects - Duas Barras - it is useful to look at the performance of the previous owner:
"Vaaldiam launched production at Duas Barras in September 2007 and produced 33,385 carats of diamonds valued at an average $165 per carat in the first 11 months of operation. Gross sales revenues from the mine to date, including 1,036 ounces of gold recovered for the period September 2007 through July 2008 reached $6.5 million."
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=23120
Moreover, during February 2008 a 15.68 carat diamond was recovered at the Duas Barras mine which is the largest diamond recovered to date at this mine. This diamond was sold in the second quarter for US$78,400 or US$5,000 per carat.
http://globaldocuments.morningstar.com/documentlibrary/document/29cf493380fe9217.msdoc/original
Recovery Plants
We have two working recovery plants for diamonds and gold. Our subsidiary, Jupiter Gold owns a modular recovery plant which utilizes a large centrifuge for recovery, currently deployed in this concession area. During 2017, this plant was completed, tested and made operational. The plant uses centrifugation as the primary method of gold separation. Material identified as potentially containing diamonds is retrieved and further processed in specific high-precision equipment for detection of diamonds, located in our large plant, as described below.
See the modular gold & diamond recovery plant in action here:
19x20. Consolidation is over. Grab your shares now, before the next leg!
BMIX
Large bid support at 16 with over 5M... I think we may run into green before close today... And, of course, the long-awaited PR catalyst may also hit at any time.
BMIX
We have now stabilized after the morning profit taking. I think he will now continue the slow climb. However, we could certainly use a catalyst.
BMIX
At least we have SOME volume here. I expect a lot more of it when revenues appear.
Agreed. We could have used an update today - it has been awhile.
BMIX
Gold and diamond production only WEEKS away. Full DD compilation below:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149766729
BMIX
Trading extremely thin. No dilution whatsoever.
BMIX
It is too expensive for iHub penny gamblers but too small for bigger fish. It IS trading, but the average volume is currently low. This will improve with revenue.
BMIX
Easily. We have a real business, we have the assets, we have the all-star CEO, we have the share structure and, in the matter of weeks, we will finally have revenues...
BMIX
Higher than it is today ;)
BMIX
Convertible note holders can only convert up to 4.99% of the OS at a time because owning more than that at any time would make them a beneficial owner who needs to file schedule 13D and certain restrictions come into play - they don't want that.
These CD converters don't use retail online brokers like ETrade or TDAm, etc. The institutional brokers they use usually have restrictions that save them troubles and extra fees with their clearing firms when low-volume penny stocks are traded. Trading low-volume penny stock like BMIX could result in DTC illiquidity charges placed on the brokers, so they usually will create some restrictions that have to be followed with this type of securities - daily trading maximum of only a small percentage of the average daily volume for x days, etc. Usually, 20% of average daily volume.
You can find more of the two subjects above by Googling.
Bottom line - only one CD owner can't hurt BMIX anymore due to the above restrictions they face. When we had 5 of them dumping in concert, we got hurt, but those days are behind us.
BMIX
Three possibilities: 1) they start making money later this month and buy out the remaining notes at face value before they convert into 120M more shares 2) with the production being this close, a large outside investor could help BMIX get rid of that convertible debt to get a stake in the company 3) A/S would have to be raised (Worst case scenario is 2B).
BMIX
All good points. The best indicator of this particular rally's sustainability will be the next week. Usually, if it is some group pumping it up, they will begin unloading after 100% gain or so, going much past that would be risky for them. We'll see what happens Monday.
I did not even anticipate this run to occur at this juncture, so I will take whatever comes out of it with neutral feelings.
I am here for the property that demonstrated 35/35 drill holes positive for gold and diamonds. They should get to the necessary depth at the end of this month and this is what all my bets are on. I think they will finally get it right this time. And if they do, the one remaining noteholder won't matter at all, the remaining CD will clear out in no time at higher PPS.
Waiting until the company is completely convertible debt free is not how multi-baggers are found though - by that time, BMIX would be trading at over a penny. The key is to foresee events and dynamics that will result in the quick clearance of such convertible debt BEFORE that actually happens and to buy into that vision.
BMIX
That 1.2B implied the lowest trading price of $0.0008 or whatever was recorded at the time that filing came out. So 600M at $0.0016, 300M at $0.0032... and we are not that far from $0.0032 now... And like I said, the issue is not how much, but HOW QUICK - and for the two reasons I described in the previous post, the one seller left will not be able to sell fast enough to drop the stock like it had been dropped in the past with 5 active sellers.
And, I will repeat myself, any profit at all and the game is changed entirely.
Clearly, we both have been burnt here in the past. But for the reasons I described at length, I think BMIX is about to turn itself around.
BMIX
This is true, SooS, dilution has been a huge issue int he past when the company had multiple CD note holder jumping over each other to convert and sell.
Only ONE convertible debt holder left now, they are limited to converting at 4.99% of OS at a time, and even then they can NOT sell more than 20% of the average daily trading volume of the last 20 days as to avoid DTC charges. So 80% of daily volume can easily overpower that selling pressure, if any.
When there are 5 of those note holders selling all at once, price drops, but, as evidenced by BMIX stabilizing at around $.0009 for many months, one noteholder will not have enough powder to overcome any significant buying interest.
This is why I came back, I don't think that whatever little dilution there is left will be able to depress the stock price much further. Furthermore, if they do start making money this month, they can easily buy back the notes AT FACE VALUE, without the conversion discount.
Moreover, this past Friday, BMIX traded so thin as to skip 1 or 2 ticks at a time - this is NOT how heavily diluted stocks trade.
BMIX
$BMIX ALL-IN-ONE DD **START HERE** 7/6/19
*** NEW in this update: 1) Added the photos of the mining site obtained from the company (at the end of "The Projects" section) 2) Updated the most current OS from the OTC Markets website (verified by TA as of 7/1).
TABLE OF CONTENTS
1) The Company
2) The Projects
3) The People
4) Frequently Asked Questions
1) The Company
Brazil Minerals, Inc. with its subsidiaries has two components to its business model: (1) growing a portfolio of mineral rights in a wide spectrum of strategic and sought-after minerals, from which equity holdings and/or royalty interests will develop, and (2) mining certain specific areas for gold, diamonds, and sand.
The company's progress as an exploration project generator has been steady. In early 2013 Brazil Minerals owned mineral rights for gold and diamonds. Since then the company has grown several-fold its bank of high-quality mineral properties to currently include mineral rights for gold, diamonds, cobalt, copper, lithium, manganese, nickel, precious gems (aquamarine, beryl, tourmaline) and sand.
BMIX's first equity holdings from their exploration project generation strategy is Jupiter Gold Corporation. Jupiter Gold has been a public company since December 16, 2016.
Share Structure:
O/S: 868,086,832 as of 7/1/19 (OTC Markets Website, Verified by Transfer Agent)
https://www.otcmarkets.com/stock/BMIX/security
Shares held by the CEO Marc Fogassa (He converted the salary owed to him by the company into COMMON shares of BMIX): 252,845,670 as of 4/15/19
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148242339
Shares held by other company affiliates: 251,176,014 as of 4/15/19 (10-K Filing, Page 30)
https://ih.advfn.com/stock-market/USOTC/brazil-minerals-inc-BMIX/stock-news/79701359/annual-report-10-k
Estimated float (Total outstanding count minus all affiliate shares accounted for in the official filings): 868,086,832 - 504,021,684 = 364,065,148
A/S: 950,000,000
Brazil Minerals Website: http://www.brazil-minerals.com/
Jupiter Gold Website: http://www.jupitergoldcorp.com/ (BMIX owns 49% of Jupiter Gold)
YouTube Channel: https://www.youtube.com/channel/UChcTI9t1v-E-9MJ7mMtH_tA
Facebook: https://www.facebook.com/brazilmineralsbmix
LinkedIn: https://www.linkedin.com/company/brazil-minerals-inc-
2) The Projects
I. PINDAÍBA PROJECT - FINAL MINING APPROVAL ANNOUNCED ON 06/04/2019! AURIFEROUS & DIAMONDIFEROUS GRAVEL PROCESSING TO BEGIN AFTER 6-8 WEEKS OF INITIAL EXCAVATION!
Minerals: Gold (50% of revenues belong to Brazil Minerals and 50% to Jupiter Gold) & Diamonds (100% of revenues belong to Brazil Minerals)
Location: Olhos-d'Água, state of Minas Gerais
Area: 1,310 acres
Highlights:
• Extensive drilling campaign conducted by Brazil Minerals and concluded in Q3 2018.
• 35/35 of drill holes were visually positive for gold.
• 57% of drill holes had high-probability diamond recovery; a “diamond-rich” zone was identified in the area.
• Results support open-sky mining.
• The target area studied in this drilling campaign is an alluvial plain along the Jequitinhonha River Valley, an area known for placer mining for gold and gem-quality diamonds for over two hundred years.
• Pindaíba is a storied mineral rights area which at one point had thousands of settlers along its river margin prospecting for diamond. Old settler activity is usually a strong indication of robust mineralization.
• Old settler activity does not diminish the recoverable gold and diamonds from Brazil Minerals’ Project, as settlers prospected at the river margin with rudimentary tools and, by law, regulated mining must be done at least 100 meters from the margins of this river.
• A royalty agreement with Jupiter Gold by which Brazil Minerals will use Jupiter Gold’s recovery plant for processing entails that Brazil Minerals will keep 50% of the revenues from gold and 100% of the revenue from diamond with respect to the Pindaíba Project.
In September 2018, Brazil Minerals announced the conclusion of an extensive drilling campaign of a portion of the mineral right of the Pindaíba Project. It was reported that Brazil Minerals drilled 35 holes spaced 30 to 50 meters utilizing a Banka 4-inch drill. All 35 holes were positive for fine gold as observed by our drilling team, and samples were 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.
Brazil Minerals also announced that this extensive drilling campaign yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed. Further analysis of the campaign’s results and inspection of collected samples indicated the existence of a diamond-rich zone within the drilled area. Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone.
II. JEQUITINHONHA PROJECT
Minerals: Gold, Diamonds, Sand (for construction)
Location: Olhos-d'Água and Diamantina, state of Minas Gerais
Area: 26,645 acres
Highlights:
• Brazil Minerals owns 9 mining concessions and 10 pre-mining concessions. A mining concession if the highest level of mineral right title in Brazil. It permits mining in perpetuity as long as environmental licensing is kept current and mining guidelines are followed.
• This collection of mineral rights covers more than 60 miles of mineral rights alongside the banks of the Jequitinhonha River, a well-known area for gold and diamonds for over 200 years.
• Gold and diamonds appear together in alluvial material; mining is open-sky, year-round.
Brazil Minerals, through subsidiaries, has 31 mineral rights for diamond, gold, and sand, on and near the margins 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.
One of our mineral rights, covering 422 acres, is called “Duas Barras”, a mining concession for diamond, gold and sand. Our concession, awarded by the Brazilian federal government through the Brazilian mining department, is the highest level of mineral right in Brazil. It permits us to mine in perpetuity provided that environmental licenses are kept current and that mining guidelines are followed.
Mineralization
Vaaldiam, the previous owner of this mining concession, and at that time a publicly-traded Canadian company, performed detailed geological studies leading to the publication of an NI 43-101 technical report in 2007, with an update in 2008, as required by the rules of the Canadian securities administrator and filed in SEDAR. The NI 43-101 report describes the existence of mineralized materials amounting to 1,639,200 cubic meters with the following concentrations: 0.16 carats of diamonds per cubic meter and 182 milligrams of gold per cubic meter. Vaaldiam also submitted a bankable feasibility study to the Brazilian mining department in accordance with local regulations.
The link to the resultant NI 43-101 is below. Keep in mind that the official study was done for only 7% of the Duas Barras total concession area. There is still a 93% chunk of the property that has not been officially assayed.
https://xmbl.files.wordpress.com/2014/07/duas-barras-ni-43-101.pdf
What the heck is NI 43-101? Read below:
https://en.wikipedia.org/wiki/National_Instrument_43-101
Excerpt from the BMIX NI 43-101:
To fully appreciate the magnitude of the BMIX potential in just of their projects - Duas Barras - it is useful to look at the performance of the previous owner:
"Vaaldiam launched production at Duas Barras in September 2007 and produced 33,385 carats of diamonds valued at an average $165 per carat in the first 11 months of operation. Gross sales revenues from the mine to date, including 1,036 ounces of gold recovered for the period September 2007 through July 2008 reached $6.5 million."
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=23120
Moreover, during February 2008 a 15.68 carat diamond was recovered at the Duas Barras mine which is the largest diamond recovered to date at this mine. This diamond was sold in the second quarter for US$78,400 or US$5,000 per carat.
http://globaldocuments.morningstar.com/documentlibrary/document/29cf493380fe9217.msdoc/original
Recovery Plants
We have two working recovery plants for diamonds and gold. Our subsidiary, Jupiter Gold owns a modular recovery plant which utilizes a large centrifuge for recovery, currently deployed in this concession area. During 2017, this plant was completed, tested and made operational. The plant uses centrifugation as the primary method of gold separation. Material identified as potentially containing diamonds is retrieved and further processed in specific high-precision equipment for detection of diamonds, located in our large plant, as described below.
See the modular gold & diamond recovery plant in action here:
Excellent post!
BMIX
Welcome back, bud! BMIX is looking good once again, doesn’t it?
BMIX
Very nice close at $0.002 with over 73MM volume for the day. Next week we continue upwards.
BMIX
Heading for a strong close here.
BMIX
Hah. One should be paying attention to the date of 6/19 right there in the title - clearly any material events past that date are not included. It will be updated with the next filing. Ain't nobody got the time to do daily OTC website checks nor is it necessary for a large compilation post to be updated daily. The meat of the matter is in there, and one is always welcome to create a better compilation of their own with all the minutiae to be updated hourly ;)
BMIX
My DD compilation relies on official filings so I will wait to update until the next filing - we don't know whether the extra shares, restricted, etc.
BMIX
We are holding strong at 88% up for the day - I'd say there is pretty good support. And this is just day one of the rally, most of the people don't even know it has started yet. Wait till Monday.
BMIX
Plenty of reasons for this to be up - production of gold and diamonds is only 3 weeks away. Check out the all-in-one DD post below for details:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149755457
BMIX
It's some retail flipper dumping out at a 100% profit. Good for them. They will regret this soon enough though. That ask now moved down to 17 and is already half its original size. It won't be a problem.
BMIX
.005 is imminent given only 227 float, no dilution and that MOUNTAIN of DD -->
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149755457
BMIX
Breakout is imminent here.
BMIX
They are selling at $0.006 but buying at $0.0015... I'd say FRIENDS ;)
BMIX
Welcome to the board, MWM. If you haven't yet, check out all-in-one DD post below:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=149755457
BMIX