Brazil Minerals, Inc. (OTCMKTS:BMIX) revealed on Monday that subsidiary Jupiter Gold Corp. had acquired a gold mineral claim covering 773 acres in Paracatu. It is situated 350 miles from the alluvial gold and diamond operations of the company.
Morro de Ouro
Paracatu is home to Morro do Ouro, the biggest gold mine in Brazil owned by Kinross Gold Corporation (USA) (NYSE:KGC). According to a 2015 report, the gold mine has a total of 9.65 million oz. in proven and probable reserves of gold and a total of 477,622 oz. of gold in annual production.
Paracatu has been a primary gold mining destination since the 17th century. Production typically comes from alluvial deposits near the Corrego do Ouro or Corrego do Rico river stream.
Prior to obtaining the mineral claim for gold, Jupiter Gold had been offered a simple gold production operation using centrifuges downstream from Morro do Ouro for about $3.75 million. However, the company had declined the offer, enabling it to identify a more desirable claim upstream and closer to Morro do Ouro.
Crixas Exploration License
Last month, Jupiter Gold had also been granted with a priority for an exploration license on a gold mineral right, which covers a total of 4,925 acres in Crixas— one of the biggest gold production sites in the region. The area is 650 miles away from the company’s alluvial gold and diamond operations in Brazil.
The claim can potentially demonstrate primary gold ore linked with pyrite or chalcopyrite, and unveil a secondary gold deposit in alluvium and oxidized surface rock.
The company expects to receive the official license in a couple of weeks. By then, Jupiter Gold is permitted— initially for three years— to conduct substantial research that will establish the feasibility of gold production in the area.
In other news, Brazil Minerals revealed recently that it had eliminated a massive convertible debt and preferred stock from its balance sheet, further improving capital structure.
The company will release its financial report for the third quarter in November, which will reflect the elimination of the said liabilities. Consequently, it will spark a positive sentiment from the shareholders.
Take Note Of This Heritage Printing NPV (OTCMKTS:HAGE) Investor Update
Heritage Printing NPV (OTCMKTS:HAGE) recently provided an update of its strategic corporate plan and went on to talk about the opportunity in 3D printing industry. For background, Heritage is a maker of 3D printers with several printer models to its credit.
One of the issues that Heritage Printing NPV (OTCMKTS:HAGE) sought hard to highlight in its latest investor update is how the company is plotting to penetrate China’s 3D printing market. If you don’t know what is happening in China, the government there seems so excited about the prospects of 3D printing technology that it is working to set up a 3D printing focused R&D project that will cost $313 million.
It is estimated that China’s 3D printing market will grow at the rate of 40% between 2016 and 2020, outpacing the growth of global 3D printing market at CAGR of 20.6% through 2020.
To take advantage of the Chin’s rapidly expanding 3D printing market, Heritage Printing NPV (OTCMKTS:HAGE) has entered into a partnership arrangement with Chinese manufacturer known as Artefactor Limited to produce its 3D printers to be sold in China and other Asian markets. Heritage hopes to save on production cost through the arrangement with Artefactor, which should in turn allow it to excite customers with competitive prices for its 3D printers.