New developments in the diamond mining derby: Pasadena, Calif-based Brazil Minerals, Inc. (OTC:BMIX) told investors Monday the first run of the production of diamonds from its current mining site was better than expected.
Using a technical term, BMIX said Diamondiferous gravel was extracted, transported, and processed through a nearby first-stage recovery plant. The results of the found materials – in all shapes and sizes, judging by Monday’s news release -- needs to be further processed for final recovery of rough diamonds.
The Company also says it will further process "medium size" and "large size" partially-processed ore in the next several days. The goal is to maximize the yield on diamond recovery prior to processing stockpiled ore.
Shares in BMIX rocketed 28.9% to 29-100ths of a cent mid-Monday afternoon, on volume of 25.9 million shares.
