Brazil minerals Advances prospects
Brazil Minerals announced that it is progressing on the regulatory licensing pathway for commercial production from one of its premier areas for gold and diamond. The location to be mined has been extensively drilled with results showing that 35 out of 35 drill holes tested positive for gold.
Additionally, a section was found to have high probability for diamonds given the prevalence of “satellite markers” in collected samples. The Company is expecting a positive outcome in the licensing process and anticipating revenues from gold and diamonds from such area in 2019. Production from this project has the potential to make Brazil Minerals a profitable enterprise.
Marc Fogassa, Chief Executive Officer of the Company, commented, “We are very excited about our prospects for this gold and diamond area. Furthermore, we believe that the new President of Brazil, inaugurated this past month, and the new heads of the Brazilian Senate and House of Representatives, elected a few days ago, are pro-business and committed to necessary reforms that will positively affect the country’s economy. As an indicator of this favorable climate, the Brazilian stock market is at an all-time high. In sum, Brazil is returning to its spot as a popular destination for global investors and this bodes very well for us.”