Brazil Minerals Inc (OTCMKTS:BMIX) Stock In Focus After Recent Development

Strategic mineral resources company Brazil Minerals Inc (OTCMKTS:BMIX) is involved with the green energy revolution and yesterday, its stock went through a selloff to end the day with a decline of 4%.

Market Stats     

On Thursday, BMIX stock fell 4.30% to $0.0067 with more than 5.89 million shares, compared to its average volume of 8.14 million shares. The stock moved within a range of $0.0064 – 0.0070 after opening trading at $0.0070.

Brazil Minerals Intersects High Lithium Content in Pegmatite

While it is true that there was no news about the company on Thursday, it could be a good idea for investors to consider taking a look at the announcement made by the company the day before. The company announced at the time that it had got the geochemical results from the core samples that it had found at from a pedmatitic ore body located inside the Minas Gerais Lithium Project.

It was an important announcement from the company and may have brought the stock into considerable attention among investors. However, on Thursday, the stock suffered from a quick selloff. In this context, it is also important for investors to keep in mind that the project in question consists of as many as 44 mineral rights related to lithium and those rights span across an area of as much as 45456 acres.

In addition to that, it is interesting to note that Brazil Minerals had also been successful in identifying a number of pegmatites in many of the mineral rights under its control.

Traders Corner

BMIX stock is trading below the 20-Day and 50-Day Moving averages of $0.0070 and $0.0072 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0086.