Scottsdale 2/28/2014 4:00:00 AM
QualityStocks News - Brazil Minerals (BMIX) Completes Sale of Polished Diamonds to Major Regional Jeweler in Brazil
QualityStocks would like to highlight Brazil Minerals (OTCQB: BMIX). The vision of the company is to become a premier diversified mining company focused on Brazil. The business model of BMIX in the medium term is to control a certain number of attractive, profitable or near-term profitable operating mines, while partnering on other projects. They intend to maintain a small operation, outsourcing as much as possible, so as to become profitable as soon as possible, and to eventually start paying dividends to shareholders. The company is already a small producer of alluvial diamonds and gold through the 55% percentage ownership of Mineração Duas Barras Ltda., a Brazilian producer with the largest alluvial diamond and gold processing plant in Latin America. BMIX also has the right to develop and own 75% of a vanadium, titanium, and iron project in the state of Piauí, Brazil.
In the company’s news,
Brazil Minerals announced it has sold its first lot of cut and polished diamonds from its Duas Barras plant to a Brazilian jewelry chain. Brazil Minerals derives its revenues from both polished and rough diamonds as well as gold and has ownership interests in gold, titanium, vanadium, and iron projects.
Cut and polished diamonds from Duas Barras are ordinarily exported to the United States for grading and certification at the Gemological Institute of America (GIA). The Brazilian jeweler that purchased this lot of diamonds, however, chose to buy them without GIA certification. In business since 1944, the buyer is a major regional jeweler with 11 retail outlets in Brazil.
Brazil Minerals has now sold polished diamonds, both with and without GIA certification, in the U.S. and Brazil. Conducting business with this sophisticated buyer opens up new distribution opportunities for the company and provides a logistically easy outlet for future diamond production.
A U.S. corporation, Brazil Minerals is a diversified mining company with revenue from the sale of rough and polished diamonds and gold, and with ownership of interests in gold, titanium, vanadium and iron in Brazil.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
