$CGRA NEWS OUT SALES AND REVENUE NUMBERS !!!
CGrowth Capital, Inc. Completes Processing of First Reoccurring Dolomite Order and Announces Additional 5 Year Gravel Contrac...
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SILVERDALE, WA / ACCESSWIRE / September 29, 2014 / CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company") is pleased to announce that it has completed the processing of its first bulk sale dolomite order of the season. The 800 ton minimum order is the second consecutive year order with the agricultural supply broker at $54 per ton FOB for an initial contract value of $43,200. The purchase order validates the effectiveness of the product and has opened up discussions with the broker to provide a super sack product to replace their existing limestone contracts which are in excess of 10,000 tons annually. The total domestic limestone market is in excess of $1 billion annually.
The Company's dolomite supply, estimated in excess of 250 million tons, is a magnesium dolomite which is generally regarded as a higher grade material. The quality of agricultural limestone is determined by the chemical makeup of the limestone and how finely the stone is ground. To aid the farmer in determining the relative value of competing agricultural liming materials, the agricultural extension services of several universities use two rating systems. Calcium Carbonate Equivalent (CCE) and the Effective Calcium Carbonate Equivalent (ECCE) give a numeric value to the effectiveness of different liming materials. The CCE compares the chemistry of a particular quarry's stone with the neutralizing power of pure calcium carbonate. Because each molecule of magnesium carbonate is lighter than calcium carbonate, limestones containing magnesium carbonate (dolomite) can have a CCE greater than 100 percent (Wikipedia). Among the many other applications, dolomitic lime may be used as a soil input to provide similar effects as agricultural lime, while supplying magnesium in addition to calcium.
"This is a big ship that is just beginning to leave the harbor," stated Bill Wright, CEO of CGrowth Capital, Inc. "Mobilizing assets that are this extensive and establishing contracts with new customers takes time but generally results in long term commitments. As we pick up momentum and start to tap into these markets it will be really exciting to watch sales and revenues begin to multiply exponentially. Capturing a percentage of the billion dollar dolomite industry is a priority for the Company and we are headed in the right direction."
The Company is also pleased to announce that one of its returning customers has fulfilled the purchase of the first half of its annual commitment of gravel under a 5 year agreement. The agreement is for a total of 66,000 yards with a contract value of $100,000. The Company is not required to perform any work in the fulfillment of the contract.
