Brazil Minerals today announced that the first gold retrieval unit (GRU) designed and custom-built for usage in BMIX's areas was delivered to one of its mining concession areas on September 19, 2016. Installation and testing will take several days, after which any adjustments will be made, and then the unit should become operational. As reported in a previous press release, the Company has in excess of 500,000 cubic [...]
Brazil Minerals today announced that it had received the final notice of conversion of debt to equity from St. George Investments, LLC, one of its two remaining short-term oriented variable-rate noteholders. The Company believes that the extinguishment of this variable-rate debt and removal of this likely seller of its common stock is a significant positive development. In other news, BMIX has set up a subsidiary in [...]
Brazil Minerals today announced that it had received a notice of conversion of debt to equity from St. George Investments, one of its two remaining short-term oriented variable-rate noteholders. The notice indicated that after the conversion SGI would have only $11,726 remaining of BMIX's variable-rate debt. The Company believes that it will benefit from the extinguishment of such remaining debt and removal of this likely [...]
Brazil Mineral announced today that it had further improved its capital structure with the elimination of a large amount of convertible debt and preferred stock from its balance sheet. Four holders of convertible notes payable by BMIX, with a total face value of $200,000 in principal, converted all such notes and their accrued interest into an aggregate of 80 million BMIX common shares (at a conversion rate of $0.0025 per [...]
Brazil Minerals today announced that Jupiter Gold Corporation, its gold-focused subsidiary, had obtained priority for an exploration license on a gold mineral right covering 4,925 acres in Crixas, extending to an adjacent municipality, in the state of Goias in central Brazil. The Crixas area is one of the largest gold hubs in Latin America. It is home to several gold mines and projects from AngloGold Ashanti and Cleveland [...]
Brazil Minerals announced today that it had improved its capital structure with the elimination of a large amount of preferred stock from its balance sheet. In particular, certain holders of BMIX's Series B Preferred Stock ("Preferred B") as well as the one holder of BMIX's Series C Preferred Stock ("Preferred C") entered into substantially similar transactions with the Company (together, the "Transaction"). In the [...]
Brazil Minerals today gave a brief update on its first test of a new gold recovery platform. A Gold Retrieval Unit test run of 6.8 cubic meters of material produced 59.1 grams of 96% gold, now molten into a gold bar, as seen in an attached photograph. Note: The photographs cited in this press release are available in the version posted on the Company's website.
Brazil Minerals today gave brief updates on its gold retrieval platform and first royalty contract for diamonds and gold, disclosed the receipt of two mineral rights for manganese, and announced an ongoing strategy to strengthen its capital structure over time. BMIX has continued to progress well with its gold retrieval platform, as described in previous releases. Each centrifugal separator, with its associated water-pump [...]
Brazil Minerals announced today that it had signed an agreement with a Brazilian group that will be exploring and processing material for diamonds and gold in one of the Company's properties. This group will bring its own mini-plant to one of BMIX's areas; all work will be open for supervision by the Company at all times. The deal is attractive in that BMIX will have essentially no costs, and in return will receive 25% of [...]
Brazil Minerals announced today several developments: 1) the successful recovery of diamond and gold and the unexpected finding of larger alluvial deposits of free gold from a new mining area; 2) a new manganese opportunity; and 3) the visit by an investor representative to the Company's Brazilian operations. During the initial excavation of one of its more than two dozen mineral rights along the banks of the [...]
Brazil Minerals announced today several developments: 1) it had received a new truck from Mercedes Benz in exchange for cashless tax credits; 2) one of its variable-rate notes had been purchased; 3) conversations with a Chinese mining enterprise had advanced and a visit to BMIX in Brazil was being planned; and 4) mining of a new area for diamonds and gold was progressing well. In early May 2016, BMIX retrieved from the [...]
Brazil Minerals announced that on April 29, 2016 it obtained approval of a report regarding BMIX's Apui/Borba Project for gold from the local mining department. With the completion of this necessary step, the BMIX's title to this mineral right is confirmed and the Company can now work towards obtaining an initial commercial mining permit. BMIX's Apui/Borba Project titled right covers 24,708 acres, a surface area that is [...]
