The following discussion of our financial condition and results of operations
should be read in conjunction with our audited consolidated financial statements
and the notes to those financial statements appearing elsewhere in this Annual
This Annual Report contains forward-looking statements. Forward-looking
date of this Annual Report, and involve certain risks and uncertainties. Actual
results could differ materially from those anticipated in these forward- looking
statements as a result of various factors. Factors that could cause future
results to materially differ from the recent results or those projected in
forward-looking statements include, among others: unprofitable efforts resulting
not only from the failure to discover mineral deposits, but also from finding
mineral deposits that, though present, are insufficient in quantity and quality
to return a profit from production; market fluctuations; government regulations,
including regulations relating to royalties, allowable production, importing and
exporting of minerals, and environmental protection; competition; the loss of
services of key personnel; unusual or infrequent weather phenomena, sabotage,
government or other interference in the maintenance or provision of
infrastructure as well as general economic conditions.
“we”, “us”, or “our”) is a mineral exploration company currently primarily
focused on the development of our two 100%-owned hard-rock lithium projects..
Our initial goal is to be able to enter commercial production of spodumene
concentrate, a lithium bearing commodity.
We also have 100%-ownership of projects in other highly strategic minerals: rare
earths, titanium, and nickel/cobalt. We have mining concessions and other
mineral rights for diamonds, and in one of these areas we also mine and sell
sand for construction usage, which was our primary source of our revenues in
As of the date of this Annual Report, we own approximately 60% of
its initial iron mine. We own approximately 30% of Jupiter Gold Corporation, a
company focused on the development of gold projects and of a quartzite mine, and
whose common shares are quoted on otcmarkets.com under the symbol “JUPGF”.
19 Table of Contents
We have consolidated our results as of
All of our mineral properties are in
otcmarkets.com under the symbol “BMIX”.
Total Area Mineral(s) Location in Brazil (acres) Status Lithium Minas Gerais 57,855 Research Exploration Lithium Rio Grande do Norte, Paraíba 23,079 Research Exploration Total - Lithium 80,934 Rare Earths Goiás, Tocantins 15,810 Research Exploration Rare Earths Bahia 24,162 Research Exploration Total - Rare Earths 39,972 Nickel/Cobalt Goiás 9,553 Research Exploration Titanium Minas Gerais 13,810 Research Exploration Diamond Minas Gerais 21,871 Pre-Mining Sand Minas Gerais 23,363 Commercial Mining
None of our projects currently has “reserves” in accordance with the definition
of such term by the
report issued (see details below).
The projects owned by Jupiter Gold Corporation are summarized in the table
below. Jupiter Gold provides details of its properties in its Annual Report on
Form 20-F filed with the
Total Area Mineral Project Name & Location in Brazil (acres) Status Gold Alpha Project - Minas Gerais 34,899 Research Exploration Gold Alta Floresta - Mato Grosso 24,395 Research Exploration Gold Apuí - Amazonas 69,330 Research Exploration Gold Brotas - Bahia 4,821 Research...