BELO HORIZONTE, BRAZIL–(Marketwired – Jan 7, 2014) – Brazil Minerals, Inc. (OTCQB: BMIX) (the “Company” or “BMIX”), is a diversified mining company and a producer of diamonds and gold at its Mineração Duas Barras Ltda. (“Duas Barras”) subsidiary located in the state of Minas Gerais in Brazil. BMIX also owns 100% of the mining rights to a gold project covering 24,700 acres in the state of Amazonas, as well as interests in projects in titanium, vanadium, and iron in Brazil. The Company announced today that it has sold a lot of GIA-graded polished diamonds to a U.S. based investor group for future delivery. Prior to this event, BMIX had only sold unpolished, rough diamonds as well as gold to local Brazilian buyers.
Marc Fogassa, Chairman and CEO of BMIX, commented, “We are a young company, essentially only one year old with the current team and focus, and now we have revenues from both polished and rough diamonds, as well as gold. And these revenues now come from both the United States and Brazil. It is a good progression.”
A few weeks ago, BMIX publicly announced the valuation results from its first lot of GIA-graded polished diamonds, which were produced from the Company’s Brazilian operations. Shortly thereafter, the Company received an unsolicited initial offer from a U.S. group that expressed an interest in buying significant amounts of GIA-graded polished diamonds regularly.
Marc Fogassa further commented, “Management’s work during this holiday break has paid off as this U.S. group was interested in moving quickly. We were able to come to terms, which are favorable to both parties, and closed our initial transaction last week with the receipt of funds. This group and I hope to do additional transactions of a similar nature in the coming months.”
As previously announced, the Company’s first lot of GIA-graded polished diamonds was valued at $5,400 per carat. In that lot, the highest color obtained was an “F,” one of the top grades for color, and the highest clarity was “VVS1,” one of the top grades for clarity. The diamonds contained in this graded lot were mined at Duas Barras, the diamond and gold producing property that BMIX controls in Brazil. A video of the Duas Barras mine can be accessed at the Company’s YouTube channel at the following link:
During the past two weeks, the Company has also received an informative and independent investment analysis from former equity analyst and institutional trader, Joseph Ramelli. His Seeking Alpha Instablog article can be accessed at the following link:
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX), a U.S. corporation, is a diversified mining company and a producer of diamonds and gold at its Mineração Duas Barras Ltda. (“Duas Barras”) subsidiary located in the state of Minas Gerais in Brazil. BMIX also owns 100% of the mining rights to a gold project covering 24,700 acres in the state of Amazonas, as well as interests in projects in titanium, vanadium, and iron in Brazil. More information on BMIX, including an investor presentation, can be found at www.brazil-minerals.com.
Safe Harbor Statement
This press release contains forward-looking statements made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.’s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions; geopolitical events and regulatory changes, availability of capital, BMIX’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.