Montgomery, AL (PRWEB) October 10, 2007
The California gold rush days may be long gone, but the earth still holds treasure and riches.
Take Micaville, Alabama for example. This small community sits atop 4 billion dollars of in ground mica reserves. This is largest scientifically proven mica mine in North America. There is a proven ten million metric tons of mica in their mine with an addition estimate of almost ten million more. That would bring the in ground value to almost 8 billion dollars. Definitely the "mother-lode" of American mica.
The Genesis Business Group (http://www.genbiz.com) has been retained to represent and offer for sale a privately held company that owns the largest known reserve of Bright White (Ruby Red), Muscovite Mica in the United States. White mica is used extensively in the production of cosmetics, paints and coatings, electrical components, food additives and numerous other applications across a broad range of industries. Likely purchasers of this company will include: major corporations that use white mica in their processes, mining companies, equity funds or equity groups with mining interests, and foreign governments/entities.
The proven reserve owned by the company is approximately 10 million metric tons. The total probable reserve is conservatively estimated at 15 million metric tons. Based on recent sales of product to major corporate customers within the United Stated, the wholesale value of the proven reserve is approximately $4 Billion. The company has invested $25 Million in reserve verification, site preparation, and the construction of the production facility. Access to the mineral deposit at the site is exceptionally good.
Darin Philips, President of Genesis says, "This is a rare opportunity for a company or investment group to control the rights to such a large vein."
Mica commonly occurs as flakes, books, or sheets. Sheet muscovite (white) mica is used in electronic insulators (mainly in vacuum tubes), ground mica in paint, as joint cement, as a dusting agent, in well-drilling muds, and in plastics, roofing, rubber, and welding rods. Mica even surrounds and protects the space shuttle from atmospheric burn. It diffuses heat and adds a four inch layer of protection.
Dr. Charles Merchant constructed a $24 million Mica processing plant on the property, which has appraised value exceeding $450 million. Dr. Merchant earned his Bachelor's Degree from the University of West Florida in 1974. He received an MBA from Jacksonville State University and his PhD in Economic Geology from American University in Washington D.C. Dr. Merchant has been a licensed mining engineer in the State of Alabama since 1997.
# # #