PASADENA, CA / ACCESSWIRE / August 8, 2017 / Brazil Minerals, Inc. (OTC PINK: BMIX) (the "Company" or "Brazil Minerals") announced today that the cash flow from its Brazilian operations has increased since early July and that it is closer to being cash flow positive with respect to its recurrent operational costs in Brazil.
In particular, over a just-ended rolling monthly period, the Company received enough cash from revenues to offset approximately 75% of its regular and recurrent operational expenses in Brazil, including the entirety of salary costs for its local workforce. The Company expects this trend to continue in the foreseeable future.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC PINK: BMIX), through various consolidated subsidiaries has title to producing mining concessions for gold, diamonds, and sand. More information on BMIX is at www.brazil-minerals.com.
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.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
[email protected]
www.brazil-minerals.com
SOURCE: Brazil Minerals, Inc.