DALLAS , Oct. 19, 2010 (GLOBE NEWSWIRE) — LIG Assets, Inc. (LIGA) (Pink Sheets:LIGA), with its focus for acquiring undervalued assets, has purchased 50% of Red Arrow Mining Company’s ( RAMCO ) stock. The San Juan Mountains , where RAMCO has their gold claims, has historically produced commercial grade gold, silver ore and other minerals.
Goldman Sachs forecasts gold prices to rise above $1,650 in the next 12 months, an increase of over 20%, with gold futures projected to continue to increase. LIGA is poised to take advantage of gold’s current and future projected profits from their recent acquisition. “Our investment and the changes we are putting in place in the coming weeks will position LIGA to increase the output of the precious metals that the area is known for,” states Jeff Love , President and CEO of LIGA.
RAMCO , the owner of over 1,240 acres of mining claims near Mancos, Co. , will soon commence a drilling program to prove up gold reserves within the next few months. Once completed, the NI-43-101 report will be filed.
RAMCO , with LIGA’s assistance, is evaluating the purchase of other mining claims and operations in the vicinity.
LIG Assets, Inc. , established in October 2008 , has frequently dealt with risk-enhanced investments and produced high profit turnover. According to Mr. Love, LIGA is also preparing to close on an oil and gas project before the end of the year.
Additional information will be made available soon.