Business
Holiday Letter and Company Update to Shareholders
Holiday Letter and Company Update to Shareholders.
About this update from Cgrowth Capital, Inc.
[{"type":"text","content":"\n \n \n \nMerry Christmas and Happy Holidays from CGrowth Capital!\n\n2013 turned out to be an exciting year for the Company. We started out with a big push to begin our\nmining project in Eastern Washington. \nThis included our first big purchases of equipment, the initial hauling\nand preprocessing of ore, and site prep for mining activities. When funding commitments delayed the project,\nthat did not stop us, it only fueled our fire to push forward to success.\n\nThe Company looked for ways to creatively put its assets to\nuse while not losing sight of its primary objective of funding the mine\noperations and generating revenues. This\nled to an opportunity to enter a secondary mineral sector, create a\nrelationship with another motivated company, and open up doors to larger\nfunding partners. The moves resulted in\nthe Company being able to post its first revenues under new management.\n\nThese new relationships exposed the Company to many\nopportunities in the commodities sector that had been include in our business\nplans but initially slated for future roll outs. With the opportunities being presented, we\nstuck hard and fast - first in the oil and gas sector and then following that\nup by expanding our mineral interest. \n\nWe closed our first oil and gas property at the end of the\nthird quarter and began seeing revenues almost immediately. The West Salt Creek oil field in Wyoming is\nan exciting site (with over 2,000 acres of leases) and we expect this asset to\nbare a tremendous amount of fruit in the coming years. Our job now is to complete our financing\npackages with investors (for both this site and our Texas site announced\npreviously), perform some upgrade work, and get the bit in the ground with new\noil wells ? strategically targeting the more than 70 viable drilling locations\nthat have been identified. \n\nOur second unexpected surprise of the year came in the form\nof a 47 acre industrial site near our mining operations in Stevens County,\nWashington, along with extensive mineral rights to dolomite, terrazzo, silica\nand gravel. As of this writing, we have\nentered escrow on these properties and have both earned and escrowed the\nnecessary funding to close on the properties after the first of the year. The physical site, with its several larg...