Brazil Minerals Inc (OTCMKTS:BMIX) Stock Continues To Consolidates Amid Lack of Triggers
Brazil Minerals Inc (OTCMKTS:BMIX) stock continues to trend lower on Tuesday. The stock has not done well this year with a fall of over 53% over the past 6-month.
Market Action
On Tuesday, BMIX closed lower by 6.50% to $0.0094. More than 5.10 million shares have exchanged hands, well above its average volume of 9.12 million shares. The stock opened at $0.0100 and moved in a range of $0.0092 – 0.0100.
September 13, 2021 – Brazil Minerals Advances Lithium and Iron Projects
Here are the highlights:
Brazil Minerals announced that it has made strong advances in its lithium and iron projects during the last several weeks.
The Company’s geology field team has intersected a wide layer of spodumene, the primary lithium-bearing mineral, in one of its hard-rock lithium project areas; two photos from some of the recently retrieved material are attached to this release. Work is ongoing towards obtaining the data needed for the first technical report with an estimate of lithium resources.
The information gained from these studies will dictate how to best develop and commercialize the identified resources and the most beneficial way to proceed on conversations with potential customers and partners.
Separately, Brazil Minerals, through its iron-focused subsidiary, is expecting to soon receive the technical report on its first iron project from the independent geology firm responsible for the drilling campaign. Preliminary indications point to 12 million tons of iron ore resources, and work is ongoing towards planning for an initial iron mine. The Company’s iron subsidiary has two additional, separate high potential iron areas within the well-known Iron Quadrangle mining district.
Key Quote:
Marc Fogassa, CEO of the Company, commented, “We are delighted by some of the recent results obtained. It is an exciting time as we are clearly progressing towards our goal of unlocking value from our vast mineral rights portfolio and in due time becoming a profitable multi-mineral producer.”
