Atlas Lithium Corp (ATLX)

[boston127]

USA is #4 and Brazil is #11

in gold production. I'm not saying anything negative about BMIX. I like investing in gold at this time. But, it seems odd that we are all putting good money into a Brazilian mining operation.

The vast majority of the USA gold is located in Nevada. We should be investing there for gold exploration drilling results. I dumped 75% of my shares on Monday and have been looking for up and coming plays in the USA.

American gold output rose by a whopping 10 percent in 2018, marking the fifth consecutive year of growth. Production was supported by higher grades at Newmont’s operations in Nevada. In fact, around 78 percent of gold produced in the U.S. is from Nevada.

The problem with gold mining in Brazil is that it has hurt the ecosystem tremendously. BMIX does not user mercury. But, it could be only a matter of time before all permits are yanked. This is another reason why I am not as bullish on BMIX.

Gold mining in the Amazon rainforest has destroyed whole state-sized chunks of rainforest. However the destruction is not simply kept to where the mining is taking place.

Mercury is used to purify gold in the Amazon. Unfortunately this toxic element has been reported downstream and poisoning the fish that fishermen catch and sell in the markets. This technique of separation, called amalgamation, is done without protective equipment and without any regulations to discard the mercury safely.

Therefore, a massive amount of mercury has been flowing down the Amazon River since it first made its way into the hands of the miners.

According to the University of Idaho, it is believed that gold mining contributes approximately 80% (168 tons annually) of mercury contamination. Mercury has devastating effects on wildlife and ultimately to the people who ingest this deadly poison. It can harm the fetus of a pregnant mother, which results in abnormal growth/malformation of the baby’s central nervous system.

The two main sources of mercury contamination is the fish that these communities consume and how close to mining the individual is, more importantly the exposure to amalgamation.