Yesterday, the Brazil Minerals Inc (OTCMKTS:BMIX) stock may have been trading within a range but it ought to be noted that the company also made a key announcement and it may be a good idea to take a look into it.
Trading Data
On Monday, BMIX stock decreased by 0.67% to $0.0074 with more than 10.34 million shares, compared to its average volume of 8.50 million shares. The stock moved within a range of $0.0070 – 0.0075 after opening trade at $0.0075.
Brazil Minerals Adds Nickel Areas
The company, which is regarded as a strategic mineral resources company in relation to the green energy revolution, made an announcement with regards to the filing of certain applications. Brazil Minerals also noted that it had also been awarded the first priority for as many as five exploration permits related to nickel.
The nickel exploration permits are for an area that spans around 20143 acres and is situated Niqueldaia in the state of Golas in Brazil. The name of the site literally means ‘home to nickel’ and remains one of the more sought after sites for nickel exploration at this point in time.
Despite the significant announcement from the company, there was no movement in the Brazil Minerals stock price. At this point in time, it may be a good move for investors to consider adding the stock to their watch lists and keep an eye on further developments with regards to these permits.
Technical Data
BMIX stock is trading below the 20-Day and 50-Day Moving averages of $0.077 and $0.0072 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0089.
