...Now is the time for us to shift gears and begin monetizing these assets and setting ourselves apart from the pack. We have all of the pieces in place and we are ready to knock it out of the park.” CEO Bill Wright states.
SILVERDALE, WA (PRWEB) July 28, 2015
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”.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. is an alternative asset management company focused on businesses and assets operating in all aspects of mining, minerals, exploration, and commercial real estate. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar markets, which represent opportunities through processing, direct or indirect sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist landowners in monetizing often undervalued assets by bringing commodities such as gold, silver, oil and gas, dolomite, and terrazzo to market through a variety of operating models.
For more information on CGrowth Capital or Dolomite visit: http://www.CGrowthCapital.com
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
Source: CGrowth Capital, Inc.