LIG Assets, Inc. (OTCQB: LIGA) provided an update on its calcium mining interests in the Marianna, Florida region and the ongoing effort to validate and enhance the value of its mining assets through a potential SEC Regulation S-K Subpart 1300 technical report summary, known as SK-1300.
Management is working with industry professionals and consultants to prepare and evaluate the SK-1300 report, which aims to further define and validate the mineral resources, reserves, operational potential, and overall economic value of the company's calcium carbonate mining assets. The company noted that a prior appraisal and valuation report completed in 2009 estimated the value of the calcium reserves at approximately $400 million when calcium products were reportedly valued at around $8.50 per ton. Since then, market prices, industrial demand, infrastructure needs, agricultural applications, and specialty calcium product opportunities have significantly increased, leading management to believe that the mine's valuation has 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.
“Our focus remains on building long-term shareholder value through strategic asset development, operational improvements, and disciplined growth initiatives,” stated management. “The Company believes that obtaining updated technical analysis and reserve validation through the SK-1300 process represents an important step in communicating the potential significance of our calcium mining assets.”
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.
This press release contains forward-looking statements within the meaning of the federal securities laws. Statements regarding future valuations, reserve estimates, projected revenues, operational opportunities, market conditions, transaction closings, strategic initiatives, SK-1300 reports, and future business prospects are forward-looking statements subject to risks and uncertainties.
