Brazil Minerals Inc (OTCMKTS:BMIX) Stock Jumps After Project Update

Brazil Minerals Inc (OTCMKTS:BMIX), which is regarded as the strategic mineral resources company mean for promoting the green energy revolution, was on the radars of investors yesterday and its stock ended the day with gains of 3%.

Market Stats

On Wednesday, BMIX stock gained 3.17% to $0.0065 with more than 6.29 million shares, compared to its average volume of 8.39 million shares. The stock moved within a range of $0.0063 – 0.0069 after opening trading at $0.0069.

Brazil Minerals’ Lithium Project Update

Yesterday the company came into focus among investors after it announced that it had managed to make continued progress in the hard rock lithium project. The project in question is situated on the northern portion of Minas Gerais, a state in Brazil. It is one of the more important projects that the company is working on at this point in time and hence, it was no surprise that an update had caused ripples among investors.

At this point in time the project is being headed by a pair of geologists who are actual experts when it comes to the task of lithiu mining. The team which is working on the Minas Gerais project has also been successful in identifying two defined as well as mineralised zones. It was a vital update from Brazil Minerals and that was possibly one of the major reasons behind the rally in the stock yesterday. It may be a good time to add the stock to your watch lists.

Traders Corner

BMIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0066 and $0.0073 respectively. The stock is trading in the neutral zone with RSI stands at 46.