DALLAS, TEXAS : StockGuru announces that WorldVest Inc. (OTCBB: WOVT) is in the StockGuru Spotlight. WorldVest, Inc., dba Iron Mining Group, is a global iron ore mining and production company with its initial focus in Latin America. The Company has entered this marketplace at a time when its largest customer, China, seeks to alter the status quo by shifting power away from the traditional iron ore producers. Iron Mining Group has signed strategic joint venture agreements with several Chinese steel groups, which provide guaranteed long-term iron ore purchase agreements for 100% of available production and outline potential future financial investments into Iron Mining Group projects.
On Friday, the company put out news announcing that it has completed the acquisition of Chile Inversiones de Minerales Ltd., a Chilean mineral investment and mining company (“CIM”). CIM will serve as an operating subsidiary to IMG, allowing IMG the ability to consolidate various iron ore mining opportunities along with complementary port and logistics infrastructure in Chile. As a result of the CIM acquisition, IMG has instantly acquired a portfolio of iron ore reserves within Chile’s second and fourth regions, as well as critical contracts to utilize midsized regional ports adjacent to its reserves. The acquisition of these reserves allows for the immediate production and export of iron ore against the Company’s existing contracts, resulting in a near-instant revenue ramp for IMG on a consolidated basis. In total, based on preliminary geological surveys, the acquired reserves are estimated to contain in excess of 100,000,000 metric tons of recoverable iron ore within the surface ”iron-sands” alone. Further estimates indicate a strong potential for exponentially more reserves in the unexplored mountain and bedrock formations of CIM’s Atacama Desert Project.
Shares for WorldVest Inc. (OTCBB: WOVT) were up during the late afternoon of trading on Friday and closed up ten cents at closing.
To view our StockGuru Spotlight on WorldVest Inc. (OTCBB: WOVT), please visit: http://www.stockguru.com
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