Relaying NBT latest....Besides the recent news, recall their most recent earnings rpt was quite strong...
Turnaround possibilities as investors observing quality pennies that have yet to participate in the obligatory jan effect term...
Noteworthy too, in that take a personal interest in collecting stones and metals....
Brazil Minerals (BMIX) announced 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:
http://youtu.be/ilvKBXSLbBU
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:
http://seekingalpha.com/instablog/128183-joseph-ramelli/2527711-brazil-minerals-a-diamond-in-the-rough
Click here to see the full report on Brazil Minerals (BMIX).
Source: MarketWired
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