LIG Assets, Inc. (OTCQB: LIGA) provided an operational update Wednesday regarding 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 to prepare a potential SEC Regulation S-K Subpart 1300 technical report summary, known as SK-1300, which is designed to define and validate mineral resources, reserves, operational potential, and overall economic value.
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 about $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 the mine's valuation has greatly increased. However, the company cautioned that no assurance can be given regarding the conclusions, valuation ranges, reserve classifications, or economic outcomes that may result from any completed report or third-party analysis.
In addition to the technical and valuation work, LIG Assets continues to evaluate strategic transactions and operational opportunities that management believes could strengthen the company's revenue base and long-term financial position. Several potential transactions and business initiatives are under review, with management anticipating providing additional updates as developments progress and agreements are finalized. The company stated that its focus remains on building long-term shareholder value through strategic asset development, operational improvements, and disciplined growth initiatives.
Management believes that obtaining updated technical analysis and reserve validation through the SK-1300 process represents an important step in communicating the potential significance of the calcium mining assets. LIG Assets continues to focus on opportunities involving mining, land reclamation, environmental technologies, and resource-related operations where undervalued assets and operational improvements may create future value. The company intends to update shareholders regarding operational milestones, acquisitions, technical reports, revenue initiatives, and material developments as information becomes available.
This press release contains forward-looking statements regarding future valuations, reserve estimates, projected revenues, operational opportunities, market conditions, transaction closings, strategic initiatives, SK-1300 reports, and future business prospects. Actual results may differ materially due to numerous factors, including market conditions, regulatory approvals, commodity pricing, operational risks, financing conditions, due diligence findings, and other risks beyond the company's control. More information can be found on the company's profile at OTC Markets and on their website at www.LIGAssets.net.
