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 company’s preferred shareholder. IGEX will notify the market when the agreement has been sealed with the publication of a new press release and filing the corresponding 8k.
Once the sands are refined and prepared for sale according to industry standards, IGEX estimates that the value of block minerals will reach minimum NINE DIGITS, even discounting transportation, handling, and refining costs, once the Lithium and Rhodium concentration is ratified in equivalent levels to those accredited by the seller.
At present, IGEX i) continues to be immersed in its preparation, regulation, cleaning, restructuring and fine-tuning of the company, as requested and conditioned by third parties to proceed with the planned mergers at a very advanced stage, ii) in addition to finalizing the architecture and engineering plans for the logistics plant, among other activities planned therein on its developable land located in Jumilla (Spain) already acquired by IGEX at the beginning of the current year.
This press release includes forward-looking statements, which are based on certain assumptions and reflects managements current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions sector changes and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify, develop and achieve commercial success; the level of expenditures necessary to maintain and improve the quality of services; changes in the economy; changes in laws and regulations, including codes and standards, intellectual property rights, and tax matters; or other matter not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.govand in OTC Markets at www.otcmarkets.com
SOURCE: The Mineral Company (f/k/a Indo Global Exchange(s) Pte. LTD)
Email: indogloex@gmail.com, Twitter: @IGEX_Official, Telephone: +34 688971444