Brazil Resources 1 Year Chart (Stockwatch)

Brazil Resources 1 Year Chart (Stockwatch)

Brazil Resources Inc. | Shares Issued: 60,528,829 | Last Close: 12/31/2013 $0.495

Amir Adnani’s Brazil Resources (BRI) has raised $6.4 million by selling 11,650,620 units containing a common share at $.55 and a full 5 year warrant at $.75.

Press Release: Brazil Resources Inc. completes oversubscribed $6.4 million private placement

The company will use the net proceeds to advance its São Jorge and Cachoeira mining projects in Brazil, for potential new opportunities, and for working capital and general corporate purposes.

Adnani

Adnani

Amir Adnani, Chairman, stated: “We thank our current and new shareholders for their strong support. The proceeds of this financing will allow us to advance our long-term growth strategy, including positioning the company to take advantage of accretive opportunities in the current depressed resource markets.”

We travelled with Mr. Adnani two years ago and were very impressed with his work ethic and presentation skills. He may also have the best rolodex of any young mining promoter, simply for the fact that he logged so many miles convincing investors he would build Uranium Energy Corp (NYSE:UEC) into a producer and he did, at the age of 33! Adnani is now 35. Our point is, when investors return to the junior mining sector, there’s a good chance Amir’s phone will be ringing, and having his shares (and full five year warrants) may not be a bad thing. With the caveat that Brazil Resources may or may not be the vehicle Adnani has success with, we just expect him to have more success in the future.

Related: Amir Adnani Continues to use his Strong-ish Paper to Expand in Brazil

This is an opinion and not advice.