Transnational Group in Negotiations to Acquire Gypsum Mine in Southern Nevada
09 Abril 2014 - 7:00AM
Transnational Group, Inc. (OTC:TAMG), today
announced that the Company has entered negotiations to acquire a
204-acre gypsum mining property in Clark County, Nevada, signing a
non-disclosure agreement with its current owner. Based on previous
studies, the property is estimated to contain 11.6 million tons of
gypsum at approximately 90% grade and 10 million tons of dolomitic
limestone. In December 2013, a mine plan was completed for the
property that set a production target of 290,000 tons of gypsum per
year, which would give the mine a production life of 40 years. On
an annual basis, this production level would generate revenue of
$6.2 million and net income in excess of $3 million at today's
prices. According to management, these reserve estimates include
only a small percentage of the entire property and could increase
significantly with further exploration efforts. "We are excited to
begin negotiations regarding this gypsum property and expect to
finalize this process within 30 days. In addition to having
significant estimated reserves of both gypsum and limestone that
will grow with further exploration, the Company expects the mine to
be in production within 60 to 90 days following the acquisition's
closing," commented Transnational Group's CEO, Dr. Philip Dutoit.
"With a projected life of 40 years, Transnational Group expects
this property will produce a steady long-term revenue stream and
prove to be very lucrative for the company and our shareholders,"
continued Dr. Dutoit.
About Transnational Group,
Inc.
Transnational Group, Inc. is a development stage holding
company, whose primary business is focused on the exploitation of
natural resources and acquiring and developing properties through
partnerships and joint ventures, as well as the development of
formidable partnerships with sponsoring governments and businesses
and integrating management's best practices and expertise into
their infrastructure. Cautionary Note to U.S.
Investors: The United States Securities and Exchange
Commission limits disclosure for U.S. reporting purposes to mineral
deposits that a company can economically and legally extract or
produce. We use certain terms on this press release, such as
"reserves," "resources," "geologic resources," "proven,"
"probable," "measured," "indicated," or "inferred," which may not
be consistent with the reserve definitions established by the SEC.
U.S. investors are urged to consider closely the disclosures in our
reports filed with the OTC Markets Group, Inc. You can review and
obtain copies of these filings from the OTC Markets website at:
http://www.otcmarkets.com.
Forward-Looking Statements: This press release
includes forward-looking statements concerning the future
performance of our business, its operations and its financial
performance and condition, and also includes selected operating
results presented without the context of accompanying financial
results. These forward-looking statements include, among others,
statements with respect to our objectives and strategies to achieve
those objectives, as well as statements with respect to our
beliefs, plans, expectations, anticipations, estimates or
intentions. These forward-looking statements are based on our
current expectations. We caution that all forward-looking
information is inherently uncertain and actual results may differ
materially from the assumptions, estimates or expectations
reflected or contained in the forward-looking information, and that
actual future performance will be affected by a number of factors,
including economic conditions, technological change, regulatory
change and competitive factors, many of which are beyond our
control. Therefore, future events and results may vary
significantly from what we currently foresee. We are under no
obligation (and we expressly disclaim any such obligation) to
update or alter the forward-looking statements whether as a result
of new information, future events or otherwise.
CONTACT: Seal Point Consulting
888-959-7095
ir@sealpointconsulting.com
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