$CGRA NEWS OUT!!!! $2.7 BILLION IN ASSETS!! CG
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Posted On: 07/28/2015 5:32:45 PM
$CGRA NEWS OUT!!!! $2.7 BILLION IN ASSETS!!
CGrowth Capital, Inc. Announces Preliminary Net Valuations on Dolomite Reserve
4:22 PM ET 7/28/15 | GlobeNewswire
via PRWEB - CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company"
is pleased to announce preliminary results and net valuations on its magnesium dolomite reserve. Taking into account the physical characteristics of the site, water tables, and anticipated mining expenses, the immediate probable mineral reserve has been set at 63% of the initial survey reserve of 505m cubic yards - which calculates out at 420m tons of material - significantly exceeding initial expectations. The estimated economic benefit from the site, after accounting for royalty, reclamation, and loss, has been estimated at a net value of approximately $2.7 billion.
"As anticipated, this is further proof that we have acquired a very special site with a versatile material that will open up a tremendous amount of opportunity for us," stated Bill Wright, CEO of CGrowth Capital, Inc. "The amount of material that can be extracted presents us with a generational project and opportunities that we did not previously have. Identifying the larger bulk sales channels and securing proper asset-backed financing are our next two hurdles. While there is a great deal of work to be done, we have made a very positive step forward towards our next goals," he continued.
As a base material, Magnesium Dolomite has a variety of uses and applications in a broad range of industries from horticulture to construction to pharmaceuticals and healthcare. Expansive market growth in construction and healthcare in particular, may help drive the market value of the reserve, while potentially expediting its commercialization.
Wright concluded, "We have spent the last few years identifying and acquiring assets that would provide us with a broad base and large upside potential. Now is the time for us to shift gears and move from strategy to execution as we begin to monetize these assets. We have all of the pieces in place and we are ready to aggressively go to market and realize unprecedented value for our shareholders".
CGrowth Capital, Inc. Announces Preliminary Net Valuations on Dolomite Reserve
4:22 PM ET 7/28/15 | GlobeNewswire
via PRWEB - CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company"
is pleased to announce preliminary results and net valuations on its magnesium dolomite reserve. Taking into account the physical characteristics of the site, water tables, and anticipated mining expenses, the immediate probable mineral reserve has been set at 63% of the initial survey reserve of 505m cubic yards - which calculates out at 420m tons of material - significantly exceeding initial expectations. The estimated economic benefit from the site, after accounting for royalty, reclamation, and loss, has been estimated at a net value of approximately $2.7 billion. "As anticipated, this is further proof that we have acquired a very special site with a versatile material that will open up a tremendous amount of opportunity for us," stated Bill Wright, CEO of CGrowth Capital, Inc. "The amount of material that can be extracted presents us with a generational project and opportunities that we did not previously have. Identifying the larger bulk sales channels and securing proper asset-backed financing are our next two hurdles. While there is a great deal of work to be done, we have made a very positive step forward towards our next goals," he continued.
As a base material, Magnesium Dolomite has a variety of uses and applications in a broad range of industries from horticulture to construction to pharmaceuticals and healthcare. Expansive market growth in construction and healthcare in particular, may help drive the market value of the reserve, while potentially expediting its commercialization.
Wright concluded, "We have spent the last few years identifying and acquiring assets that would provide us with a broad base and large upside potential. Now is the time for us to shift gears and move from strategy to execution as we begin to monetize these assets. We have all of the pieces in place and we are ready to aggressively go to market and realize unprecedented value for our shareholders".
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