Business
The Mineral Company Pte Ltd (OTCMKTS:IGEX) signs an option agreement for the acquisition of 37,000 tons of fluvial sands with a high concentration of high value minerals
The Mineral Company Pte Ltd (OTCMKTS:IGEX) signs an option agreement for the acquisition of 37,000 tons of fluvial sands with a high concentration of high value minerals.
About this update from Indo Global Exchanges Pte Ltd
[{"type":"text","content":"The Mineral Company Pte Ltd (OTCMKTS:IGEX) signs an option agreement for the acquisition of 37,000 tons of fluvial sands with a high concentration of high value minerals The deal with CODISINCA CORP has been closed for USD 10 million dollars. The analyzes of the prestigious firms SGS and Bureau Veritas confirmed the presence of a high concentration of Rhodium, Lithium, and Silicon, and to a lesser extent, Ruthenium, Palladium, Silver, Gold, and Thorium.The net profit from the commercialization of block materials after refination is estimated to reach a minimum nine-digit value.After weeks of arduous negotiations, IGEX and the American CODISINCA CORP have reached an agreement for the acquisition of 37,000 tons of fluvial sands for ten million USD. The acquired material, which comes from Colombia, has a high concentration of minerals such as Rhodium, Lithium, and Silicon and, in lower concentrations, Ruthenium, Palladium, Silver, Gold, and Thorium, as confirmed by SGS and Bureau Veritas analyses, two of the most prestigious firms worldwide.IGEX, on the other hand, has carried out its own study with the participation of two prestigious mineral analysts from Belgium (Europe) and China. This counter-analysis results are expected to be published before the end of June. IGEX personnel has traveled from Europe to Florida (USA), where 7,000 tons of this material are stored. The legal team of IGEX has made the necessary documental due diligence to ensure the proper legalization of the sands and that all its documentation is in order. The IGEX team has collected random samples on which to proceed with its own counter-analysis and verification of the purity of the materials to be extracted.The remaining 30,000 tons are stored in a seaport in northern Colombia, at the disposal of the company's interest, and ready to be shipped wherever IGEX decides.IGEX and CODISINCA will proceed to sign in the next dates the 150-day Purchase Option Agreement, which the lawyers of both parties are amicably working on. The amount of 90 million newly issued restricted common shares of IGEX, each valued at $0.016, will be delivered to the sellers like a first payment.The $1,530,000 at which the restricted common shares have been valued will be discounted from the final purchase price ($10 Millions) and for which financing IGEX has the support of the ...