HENDERSON, NV--(Marketwired - January 16, 2014) - Vivakor Inc. (PINKSHEETS: VIVK) announces the acquisition of a significant interest in a land mining concession in Kyrgyzstan. The concession possesses large amounts of aluminum bearing ore as well as precious metals.
Vivakor has acquired a minority interest in Kyrgyz Alumina, Inc. a Nevada company that has been developing the Kyrgyz concession and holds rights to game-changing technology for efficient extraction of alumina from clay ore found on the property. This technology has been validated by the Russian Academy of Sciences. Vivakor plans to add further value to the Kyrgyz based asset with its proprietary precious metal extraction technology.
Matt Nicosia, Vivakor's CEO, stated, "This acquisition and investment has the potential to result in a 39% ownership of a very large metals asset and technology that will only increase the value of our mining holdings. Our new partners and operators at Kyrgyz Alumina, Inc. have deep knowledge and relationships that only add value to the our natural resources holdings. This is truly a situation where technology plus an asset equals much more than the individual sums."
George Roth, President of Kyrgyza Alumina, Inc. observed that "partnership with Vivakor provides Kyrgyz Alumina the opportunity to capitalize on its holdings, which could result in one of the largest alumina deposits in the world, valued at over $100,000,000 based on projected annual revenues derived from assays of mineral deposits covering about 1000 square kilometers." He also noted, "The Kyrgyz Republic, located near the Caspian Sea, has recently adopted a parliamentary form of central government and is now considered to have one of the most stable political climates in this region."
Mr. Roth went on further to say, "this arrangement, while providing Kyrgyz Alumina the control and access to additional capital to expand their marginal but profitable operations, along with Vivakor's financial involvement, should put us in a position to increase processing of raw alumina clay capacity to over 10,000 tons monthly, yielding almost 28% in alumina concentrate at a market price of about $400 per ton, ready for rail shipment for processing at nearby refineries."
About Vivakor, Inc.
Vivakor, Inc, is a asset acquisition company that develops and acquires assets that generate revenue currently or in the near term. The Company acquires technologies and assets in the fields of precious minerals, biotechnology, and alternative energy. We have several mineral assets that have great value and both create a cash flow and a long term revenue stream for the Company. We have effectively acquired positions in other Green Energy companies. We have several operating assets that produce revenues and cash flow to the company. Our business model is to acquire cash-flowing or near term cash-flowing mineral and or technology assets that an identified need or a substantial market opportunity with a significant market. For more information please visit www.vivakor.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.