BELO HORIZONTE, BRAZIL--(April 20, 2015) - Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "BMIX") announced today that it had been featured in TCR, a well-regarded mining newsletter, with a price target for its common stock approximately eight times greater than the last closing price. TCR specializes in smaller capitalization companies in the minerals space, and is read by influential industry members. The Company does not have any affiliation with TCR, and was unaware that it would be featured.
Thom Calandra, the publisher of TCR, publicly disclosed on Friday, April 17, that he had bought an initial small position in the common stock of BMIX through open market trades. He has no affiliation of any type with the Company but had the opportunity to meet with BMIX’s CEO in 2013 and 2014. Mr. Calandra has decades of investment experience in mining companies.
The current management of the Company, in place since December 2012, has never sold a single share of their BMIX stock. The Company's CEO, Head of Brazilian Operations, Chief Mining Officer, and General Counsel, all receive partial compensation in the form of restricted BMIX stock in lieu of cash payments.
Absolutely adorable. A couple of points to make:
1) "...a price target for its common stock approximately eight times greater than the last closing price" refers to the fact that BMIX shares closed Friday at 0.0026 and Thom Calandra has slapped a 2c target price on this paper.
2) It's absolutely true that, "Mr. Calandra has decades of investment experience in mining companies". Take for example this link to an SEC litigation filing as evidence. It starts like this:
The Securities and Exchange Commission today brought and settled civil fraud charges against Thom Calandra, a former columnist for the Internet website CBS MarketWatch.com. The Commission alleges that Calandra profited by secretly selling stocks shortly after his investment newsletter's positive recommendations of the stocks caused their prices to rise. In settling the matter, Calandra, who lives in Sausalito, California, will pay over $540,000 in disgorgement and penalties.