The Mineral Company (OTCMKTS:IGEX) is coming back after a recent significant drop to $0.002 caused by a misunderstanding with management as described below. IGEX speculators are looking for another breakout over $0.01, a level the stock reached just this past month, in mid-April. As we previously reported on IGEX, management has worked hard behind the scenes to get the Company “pink current” and the shell status removed. While IGEX has little assets besides the Jumilla property on its books, the Company has just $360k in total liabilities, $330k of which is the loan the Company took out to buy the Jumilla property in Spain.
IGEX was a SPAC from Caren D Currier that recently went into the lithium business with the acquisition of a 50,000 sqm (or 538,196 SQ FT) lot located in Jumilla, Spain as well as acquiring the water rights, underground water reservoir, and existing extraction station, including 2 industrial water pumps. The Company is looking to close THREE MERGERS which are in the final phase of due diligence. Management has $8.4 million in financing lined up and available for being applied in order to push the first of the THREE MERGERS which are in the final phase of due diligence according to IGEX. Management also hopes that during the coming week they will be able to give a definitive confirmation about the cancellation and return to the treasury, 400 million common shares of IGEX already agreed upon and currently pending refinement on the part of the Transfer Agent.
The Mineral Company Pte LTD formerly Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) is involved in the lithium and graphene industries. The first acquisition was completed on 27th January. 2022, and a second in February. The Company is actively and diligently working on an imminent merger with two attractive industry participants to continue offering shareholders and investors: smart investing, growth, and quick and recurring earning profits thanks to the solvency and the strong financial support of the Company’s preferred shareholder(s). True real value. IGEX has changed its name to “The Mineral Company” with the State of Colorado. However, the Company’s stock symbol remains the same “IGEX,” as well as the Cusip. In addition to filing a certificate of amendment to the Company’s articles of Incorporation with the Colorado Secretary of State, the Company also filed an Issuer Company-Related Action Notification Form with FINRA regarding the proposed corporate name change.
Earlier this year IGEX acquired a 50,000 sqm (or 538,196 SQ FT) lot located in Jumilla, Spain for a total of $300k plus an 11% RE tax assessment. The property is worth approximately $980,000 as reported independently by Arquitasa (Sociedad de Tasacin), which has been homologated by Banco de Espana. The transaction was financed by the Seller, in a 7-year term loan at 2% per annum, guaranteed by one of IGEX Preferred Shareholder. The Source of repayment will be from revenues generated. The Company also acquired water rights over the above referenced lots, underground water reservoir, and existing extraction station, including 2 industrial water pumps for a total of #$100k.
IGEX 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 3 planned mergers at a very advanced stage, 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.
According to the last press release; management has $8.4 million financing lined up and available for being applied in order to push the first of the THREE MERGERS which are in the final phase of due diligence according to IGEX. Management also hopes that during the coming week they will be able to give a definitive confirmation about the cancellation and return to the treasury of IGEX the 400 million common shares already agreed upon and currently pending refinement on the part of the Transfer Agent.
$IGEX Cancellation of 400 million shares should be completed very soon!! Letter posted 5/23/22 on OTC Market’s. To finish off for today, we hope during the following week we will be able to give a definitive confirmation about the cancellation and return to the treasury 👀👇 pic.twitter.com/dUHZJLwEQP
— Just Michelle (@MaryMichelleNay) May 25, 2022
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On May 19 IGEX signed an option agreement for the acquisition of 37,000 tons of fluvial sands with a high concentration of high value minerals 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 personnel has traveled from Europe to Florida, where 7,000 tons of this material are stored and took random samples which are being tested. The remaining 30,000 tons are stored in a seaport in northern Colombia. IGEX planned to issue an initial 90 million shares, about $1,530,000 towards the $10 million purchase. Once the sands are refined and prepared for sale according to industry standards, IGEX estimated that the value of block minerals would 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.
On May 23 the deal with CODISINCA was cancelled in a weirdly worded press release that stated: “Fruit of the enormous quantity of impertinent and unfortunate phone calls and absurd and inappropriate emails CODISINCA CORP received last Thursday afternoon and all Friday made by intraday speculators and supposed non-accredited IGEX investors and fake shareholders, which have generated an unbearable amount of tension between IGEX and the seller, both parties, by mutual agreement, have resolved to cancel the option purchase agreement that bound them in relation to the high-mineral fluvial sands in the terms initially agreed upon and give each other a much needed period for reflection until the procurement of the results of the two counter-analysis IGEX commissioned to two prestigious mineral experts in Belgium and China.”
Microcapdaily has been reporting on IGEX for years, in an article from October 2021 we pointed out on Caren Currier: Caren D Currier is in the wheel house driving this merger. Caren has over 25 years of experience in accounting. Caren started her professional career helping her father with his construction company. While attending college, Caren was invited to intern with a CPA firm that had a number of construction firms as clients. This experience resulted in Caren’s pursuit of a career in cost accounting. Caren Currier served as the Controller/CFO for the previous management of Zalemark Holding Company, an OTC company.
— Andres_Trader 🇧🇴🇺🇸 (@Andres_trader_A) May 25, 2022
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Currently trading at a $10 million market valuation IGEX has 4,171,941,731 shares outstanding and recently filed a 10Q showing just $330,000 in total liabilities. IGEX is an exciting story in small caps, the Company acquired a 50,000 sqm lithium property (or 538,196 SQ FT) located in Jumilla, Spain and acquired the water rights, underground water reservoir, and existing extraction station, including 2 industrial water pumps. IGEX is looking to close THREE MERGERS which are in the final phase of due diligence. Management has $8.4 million in financing lined up and available for being applied in order to push the first of the mergers. Management also hopes that during the coming week they will be able to give a definitive confirmation about the cancellation and return to the treasury, 400 million common shares of IGEX. Coming off a drop to $0.002 IGEX shareholders are looking for a breakout back to the $0.01 and beyond, well into copper land. We will be updating on IGEX when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with IGEX.
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Disclosure: we hold no position in IGEX either long or short and we have not been compensated for this article.