BRAZIL MINERALS, INC.'S MONTHLY REVENUES GROW 43% AND ITS LOCAL OPERATIONS ACHIEVE BREAK-EVEN
September 06 2017 - 9:06AM
InvestorsHub NewsWire
BRAZIL MINERALS, INC.’S MONTHLY REVENUES GROW
43% AND ITS LOCAL OPERATIONS ACHIEVE
BREAK-EVEN
PASADENA, CA--(September 6, 2017) - Brazil Minerals, Inc. (OTC:
BMIX) (the "Company" or "Brazil Minerals") announced today that its revenues
from operations during the month of August 2017 grew 43% in
comparison to those received in July 2017. As a direct result, the
Company achieved cash flow break even in its Brazilian
operations when accounting for usual and recurrent costs.
Furthermore, Brazil Minerals expects additional increases in
revenues as other cash streams will likely be available within the
next few months.
The current impact of the improvement in cash
generation has been a significant decline in need for capital. In
the medium term, there is a possibility, although not a guarantee,
that the growing revenues will cover the cash needs in both Brazil
and the U.S. and therefore the entire Company would achieve break-even on a recurrent cash
flow basis. Further assurance regarding this scenario may become
possible later in the year.
About
Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC:
BMIX), through various consolidated subsidiaries, has title to
mineral rights for gold, diamonds, manganese and sand, including
mining concessions for gold and diamonds, the highest level of
right to mine in Brazil. Subsidiaries are engaged in the production
of gold, diamonds, sand and mortar. More information on BMIX is
at www.brazil-minerals.com.
Follow us @BMIXStock.
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, Brazil Minerals, Inc.’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. We advise U.S. investors that
the NI 43-101 term, as mentioned in the above press release, is a
document format accepted by Canada’s securities regulator, and
utilizes different terminology than defined in the U.S.’s Industry
Guide 7, the technical format for mining exploration reports
accepted by the U.S. Securities and Exchange Commission. A
geologist qualified to write an NI 43-101 report is called a
“Qualified Person,” a term that does not apply to U.S.’s Industry
Guide 7. We further advise U.S. investors that, given the
preliminary stage of evaluation, there are no guarantees that the
potential gold mineralization of the Paracatu permit is or will
ever become mineral reserves as defined by the U.S.’s Industry
Guide 7.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com
@BMIXStock
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