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."
