VIVK - Vivakor skyrockets on receiving contract for sale of asphalt from its Utah facility

Vivakor (NASDAQ:VIVK) rallies 88.3% higher premarket after it signed a 10-year contract with Hot Oil Transport, a supplier of asphalt materials, which HOT in turn supplies to Southwest Liquid Asphalt & Emulsions, a major supplier of polymerized asphalt in Southern Nevada. Based on the current asphalt wholesale index price for the Rocky Mountain region, this contract could be valued at up to $250M over the life of the contract, provided that Vivakor is able to ramp up and operate its Vernal, Utah site at full capacity. Under the agreement, Vivakor can provide HOT with up to 50K tons of ratable asphalt cement from Vivakor's Vernal, Utah, upon completion of anticipated scaled up operations, annually for a period of ten years. Based on the current index pricing range of $510 to $600 per ton, this contract could generate between $25 and $30M in annual sales once the project is operating at full capacity. Vivakor estimates it would need to

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Vivakor skyrockets on receiving contract for sale of asphalt from its Utah facility