The Mineral Company (OTCMKTS:IGEX) Heating Up as Co Goes Pink Current, Closes Land Acquisition & Moves into Lithium and Graphene Space
By Boe Rimes April 5, 2022
The Mineral Company (OTCMKTS:IGEX) is heating up and making a move to the upside in recent trading after a brief dip at the end of months of decline. Big things are happening at IGEX; the Company recently went into the lithium and grapheme industry acquiring a 50,000 sqm (or 538,196 SQ FT) lot located in Jumilla, Spain and acquiring the water rights, underground water reservoir, and existing extraction station, including 2 industrial water pumps. IGEX also just went back to “pink current” on OTCMarkets, filing a 10Q showing just $330,000 in total liabilities. Another big step in creating value for shareholders was getting the documents into OTCMarkets to get the shell status removed which could happen in the next few days. IGEX has runner in its blood skyrocketing in late 2021 to $0.0136 highs. Currently under heavy accumulation IGEX has legions of shareholders and a growing international following that are looking for a return and eclipse of recent highs and much more.
Reverse mergers can be more explosive than biotech’s when the incoming Company has real value but is undiscovered to investors and many RM stocks that we have covered on this website have gone from pennies to dollars. Two of the biggest recent SPAC runners we reported on were HRBR which we first profiled at $0.26 which is now trading over $2.50 per share and TSNP which we reported on in the triple zeroes before it went to multi dollars.
The Mineral Company Pte LTD formerly Indo Global Exchange(s) PteLtd (OTCMKTS:IGEX) operating out of Greenwood Village, Colorado is in the lithium and graphene industries and according to management the Company is closing an immediate exciting Merger. On the old IGEX website it states: “We are actively and diligently working on an imminent merger as well as the acquisition of attractive industry participants to continue offering our shareholder and investors: smart investing, growth, and quick and recurring earning profits thanks to the strong financial support of our preferred shareholder(s).” Things are happening at IGEX; the Company just went “pink current” on OTCMarkets, they also filed a 10Q showing just $330,000 in total liabilities.
Back in December the Company announced it has taken the initial steps toward changing the Company’s name, and corporate rebranding with a new focus on enhancing and strengthening IGEXs position in the lithium and grapheme industry. The Company 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. The name change is subject to review by FINRA and will not be effective until FINRA clears the actions. The Company expects that the name change will be effective before the end of 2021.
On February 11 the Company announced it has filed two (2) SEC Form 8-K after acquiring two very important and strategic assets, which are critical to the success of the anticipated fusion/merger between Igex, a European publicly traded company and well-established leader in the lithium and energy storage, and a Spanish company involved primarily in the graphene manufacturing industry. The parties have been working hard on this strategic fusion/merger, and the assets acquisition, which are essential to the successful development of the premier center for manufacturing, storage, and shipping of minerals with emphasis in lithium, graphene, and its derivatives in Southern Europe. Engineers and architects are already retained to work on all necessary plans and permits with the goal to break ground in less than 6 months aiming at having the first phase of the project completed and operational by year-end 2022. The lot(s) are located in an already approved “urban” zone, thus not requiring rezoning applications. The construction of the center is permitted under the current zoning.
The first 8-K was filed on February 2, 2022, to report the acquisition of a a 50,000 sqm (or 538,196 SQ FT) lot located in Jumilla, Spain for a total of 300,000.00 plus approximately 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 Espaa. 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 from revenues generated.
IGEX filed a second SEC 8-K Form to report the acquisition of water rights over the above referenced lots, underground water reservoir, and existing extraction station, including 2 industrial water pumps for a total of 100,000.00. The transaction was financed by the seller at a 2% interest per annum for a period of 84 months. This transaction was also made possible by one of our preferred shareholders, who is personally guarantying the financing. This acquisition was a strategic and necessary one as water is paramount to lithium and other minerals extraction and production.
We have been reporting on IGEX for years, our most recent article was in October 2021 where 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.
Currently trading at a $25 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, as we keep saying, reverse mergers can be more explosive than biotech’s and IGEX certainly has potential here, it’s got a significantly more attractive share structure than either TSNP or HRBR did and its priced cheap here. While management has said they are still going to do a merger they have also acquired a 50,000 sqm (or 538,196 SQ FT) lot located in Jumilla, Spain and acquired the water rights, underground water reservoir, and existing extraction station, including 2 industrial water pumps. IGEX is currently under heavy accumulation and has legions of shareholders and a growing international following. It’s got liquidity, momentum, a low float and a large gap to fill back to $0.0136; a break over and its blue skies ahead for IGEX.
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