LAS VEGAS, March 29, 2016 (GLOBE NEWSWIRE) -- Transnational Group, Inc. (“Transnational”) (OTC:TAMG) today provided a shareholder update regarding its Sandy Valley Gypsum Project.
The Company has extended its projected timeline regarding the commencement of mining operations and gypsum production at its property located in Sandy Valley, NV. According to management, there have been unforeseen delays by the Bureau of Land Management (BLM) in issuing Transnational’s exploration permits due the agency’s lack of resources.
Transnational Group anticipates that it will be able to obtain the necessary permits to commence exploration at Sandy Valley within sixty to ninety days, barring any additional requests or delays by the BLM. Upon the completion of this process, Transnational plans to retain the services of qualified experts to determine the project’s probable reserves before applying for the necessary mining permits.
“Due to delays imposed by the BLM stemming from its lack of qualified geologists in our area that could not be foreseen by management, the timeline of our Sandy Valley Project has been extended. However, we expect to secure an exploration permit in the near future and anticipate that Transnational will continue its progress towards producing gypsum on this property,” stated Transnational Group’s CEO, Dr. Philip Dutoit.
COO, Israel Gamliel, added, “Concurrently, Transnational plans on pursuing other projects whose scope fits within our business profile, including those that are less capital intensive than acquiring and mining mineral resource properties. We will update our shareholders regarding any new projects or ventures as we move forward.”
About Transnational Group, Inc.
Transnational Group is a mineral and natural resource exploration company focused on acquiring and mining mineral-rich assets in the Western United States. The Company’s mission is to acquire properties rich in high-grade gypsum and other minerals that have the potential for long-term production and sustainable revenue generation. Transnational is continuously exploring strategic acquisition, partnership and joint venture opportunities that can increase its capital, equipment and natural resource assets.
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 may use certain terms in this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the 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.
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. All statements, trends analysis, and other information contained in this memorandum including words such as “anticipate,” “believe,” “plan,” estimate,” “expect,” and “intend” and other similar expressions of opinion, constitute forward looking statements. 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 Transnational’s control.
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Source:Transnational Group, Inc.