LIG Assets, Inc. (OTC: LIGA) announced today that its wholly owned subsidiary, Gold Run, Inc., has signed and fully paid for a contract to commence Phase I of an S-K 1300 technical evaluation of its approximately 1,132-acre calcium mine located in Marianna, Florida. The initial technical work is expected to begin within weeks, with a top-tier geologist and strategic technical advisor leading the effort, though their identities remain confidential under nondisclosure agreements.
Regulation S-K 1300, established by the SEC, sets disclosure requirements for publicly traded mining companies reporting material mineral resources and reserves in the United States. The company believes completing this process will provide independent technical documentation necessary to evaluate and support the potential value of the property. Subject to the final technical report, independent audit review, and other requirements, the findings may also assist in determining the appropriate financial treatment on its consolidated balance sheet.
Management stated, “Any larger publicly traded mining company considering a future acquisition, partnership, or joint venture involving the property would likely require this level of independent technical validation. Rather than waiting for a potential transaction, LIG Assets has chosen to complete the necessary work upfront. We believe this approach will strengthen our ability to enter discussions with potential strategic partners or purchasers, independently validate the resource, and maximize the potential value of the property for both the Company and its shareholders.”
Historical reports from 2009 estimated the mine’s value at approximately $400 million based on about 200 acres and an assumed value of $8.50 per ton. Gold Run now controls 1,132 acres, and management believes current base-market pricing may begin at approximately $18.50 per ton. The company expects the updated evaluation to exceed the historical valuation, though final value depends on confirmed mineral quantities, purity, recoverability, processing costs, and market conditions.
Additionally, the advisor is evaluating whether advanced refining technology originally developed for specialized applications could increase calcium purity up to 99.999999%. If successful, certain specialized calcium products could reach market values up to approximately $2,000 per ton, subject to testing and commercial feasibility. LIG Assets maintains full control over the property's future development.
Management added, “This is an important milestone for LIG Assets. We have completed the contract and payment requirements and are now moving into phase 1 of the technical validation process. The S-K 1300 report is expected to help establish the size, purity, commercial potential, and appropriate financial value of this important calcium resource.” The company also plans to revamp its branding and structure to enhance shareholder value.
For more information, visit the company’s website at https://ligassets.lovable.app/ and view the original release on www.newmediawire.com.
