LIG Assets, Inc. (OTCQB: LIGA) provided an operational update on its calcium mining interests in the Marianna, Florida region and the company's ongoing efforts to further validate and enhance the value of its mining assets. Management is currently working with industry professionals and consultants regarding the preparation and evaluation process associated with a potential SEC Regulation S-K Subpart 1300 technical report summary (SK-1300). The purpose of the report is to further define and validate the mineral resources, reserves, operational potential, and overall economic value associated with the company's calcium carbonate mining assets.
The company notes that a prior appraisal and valuation report completed in 2009 estimated the value of the calcium reserves at approximately $400 million at a time when calcium products were reportedly valued at approximately $8.50 per ton. Since that time, market prices, industrial demand, infrastructure needs, agricultural applications, and specialty calcium product opportunities have significantly increased, and therefore management believes the valuation of the mine should have greatly increased.
Management believes that the preparation of a modern SK-1300 technical report may provide updated reserve validation, operational analysis, and enhanced transparency regarding the underlying value of the mining asset. However, no assurance can be given regarding the conclusions, valuation ranges, reserve classifications, or economic outcomes that may ultimately result from any completed report or third-party analysis.
In addition to the ongoing technical and valuation work, the company continues to evaluate additional strategic transactions and operational opportunities that management believes may strengthen the company's revenue base and long-term financial position. Several potential transactions and business initiatives are currently under review, and management anticipates providing additional updates as developments progress and agreements are finalized.
LIG Assets continues to focus on opportunities involving mining, land reclamation, environmental technologies, and resource-related operations where management believes undervalued assets and operational improvements may create future value opportunities. The company intends to continue updating shareholders regarding operational milestones, acquisitions, technical reports, revenue initiatives, and material developments as information becomes available.
For more information, visit the company's profile on OTC Markets or their website at www.LIGAssets.net.
