On Wednesday, it was the Brazil Minerals Inc (OTCMKTS:BMIX) stock which was in the middle of a big move amidst heavy interest and ended up clocking gains of as much as 22%. There was no news about the company which is regarded as a strategic mineral resources company, which is vital to the Green Energy Revolution yesterday.
However, it might actually be a good idea if investors decided to take a look at an announcement from the company back on May 3. The company announced at the time that it discovered a new area in its hard rock lithium project located in Minas Garais which bear both lepidolite and spodumene.
It was a major development for the company since those two mineral bear lithium and hence, could help the company in boosting production considerable from its 100% owned project. The Vice President of Exploration at Brazil Minerals, Areli Nogueira spoke about the development as well and stated that it was a major milestone for the company.
He went on to state that the target proved highly ‘fruitful’ and the company was going to work towards figuring out the total size of the above mentioned deposit. It remains to be seen if the stock can continue to add to its gains today.
Market Reaction:
On Wednesday, BMIX stock gained 22% at $0.0134 with more than 26.81 million shares, compared to its average volume of 11.04 million shares. The stock had moved within a range of $0.0110 – 0.0152 after opening the trade at $0.0115. Over the past 52-week, the stock has been trading within a range of $0.0007 – 0.1000.
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