|By Marketwired .||
|March 27, 2014 11:43 AM EDT||
IRVINE, CA--(Marketwired - March 27, 2014) - Vivakor Inc. (PINKSHEETS: VIVK) reports that the Company closed its 2013 fourth quarter and year-end with strong financial results. This makes the third successive quarter of positive numbers from the Company. Much of this success is attributed to the highly productive efficiency of its proprietary, industry disruptive technology and methodology for extraction of Precious Metals from ore bodies in Arizona and Colorado.
The disciplined capital allocation structure from the initial capital raise that Vivakor adopted through 2013 has been at the core of every decision made in the last year. This has put Vivakor in a much stronger position to deal with the Precious Metals supply and price environment the markets realistically face today. Last year many of the Major and Junior Mining companies announced a significant pullback and slowdown in their mining operations toward the end of 2013 due to their high mining costs. Vivakor however enjoys a highly efficient and optimized extraction process with a low cost basis per ton of ore processed and a very healthy gold equivalent yield realized per ton of sand based ore that Vivakor processes.
Chairman and CEO Matt Nicosia stated, "We successfully executed on our key priorities in 2013, which include operational optimization, the acquisition of additional mining claims in Arizona (increasing our asset base) and diversification of our portfolio as we entered into a joint arrangement into Kyrgyzstan toward the end of 2013. These were the right decisions for our shareholders and for the Company, and now in 2014 we are seeing the tangible benefits of our past efforts. We drove significant growth in the stock price and capped off the year with a substantial forward-stock split as we closed a momentous 2013. We will continue to build a stronger business by delivering industry leading cost and efficiency along with stable production as we further grow our processing capacity; through this we build a stronger asset portfolio as we continue to increase our cash position and reduce our liabilities."
"We are extremely pleased about our effort to continue to maximize value for shareholders, and to position the business to capture the benefits of precious metals demand growth and physical inventory shortfall across the globe. Higher production output increases asset growth and our low-cost extraction business model ensures continued cash accruement going forward. Vivakor is well poised to expand its operational capacity this year and remains vigilant in its pursuit of other significant opportunities as well in the near term. Continuing to build a solid investment grade balance sheet is a major motivation in 2014."
ABOUT VIVAKOR, INC.
Vivakor, Inc. (PINKSHEETS: VIVK) is an Asset Acquisition company that develops and acquires resources that generate revenue currently or in the near term. The Company acquires technologies and assets primarily in the field of Natural Resources. Vivakor has several mineral assets that have great value and create a cash flow and a long term revenue stream for the Company. Additionally, the Company has effectively acquired positions in other Green Energy companies. Vivakor has several operating assets that produce revenues and cash flow to the Company. The general business model is to acquire cash-flowing or near term cash-flowing mineral and or technology assets with an identified need or a substantial market opportunity. For more information please visit www.vivakor.com.
This press release may contain forward-looking statements, including, but not limited to, statements regarding Vivakor's products and their related market potential. Forward-looking statements may be identified by the use of the words "anticipates," "expects," "intends," "plans," "should," "could," "would," "may," "will," "believes," "estimates," "potential," or "continue" and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, risks and uncertainties discussed in Vivakor's filings with the Securities and Exchange Commission, which factors are incorporated herein by reference. Readers are cautioned not to place undue reliance on any of these forward-looking statements. Vivakor undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.
Vivakor Investor Relations