Transnational expands Nevada gypsum claims
Published: Saturday, 26 September 2015
Sandy Valley landholding nearly doubles with production aimed to commence in Q1 2016.
Las Vegas, US-based Transnational Group Inc. has expanded
its Sandy Valley gypsum property through the acquisition of an
additional 2.2km2 of land from the Nevada Bureau of
Land Management (BLM).
Located around 72.4km from Las Vegas,
Transnational’s holdings for the project now span
"Sandy Valley has great potential to yield significant
amounts of high-grade gypsum. Now that we have secured funding
and mining equipment (...) Transnational is well positioned to
maximise the production from this property," Martin Katz, the
company’s chief financial officer (CFO), said.
Transnational acquired 36 claims covering 2.9km2
for the Sandy Valley project in mid-August from the BLM. The
property is estimated to contain around 10m tonnes gypsum ore
and Transnational anticipates first production in January 2016,
ramping up to 1,000 tpd at full capacity.
In late August, Transnational announced that it had entered
an agreement with Exa Natural Resource LLC and its co-founder,
Under the agreement, Transnational exchanged 5m restricted
shares at $0.45/share for $200,000 capital and $900,000-worth
of mining equipment.
"The company will use the mining equipment provided by Exa,
based in China, to extract gypsum and other natural resources
from its Sandy Valley project," Transnational said.
"This capital and equipment financing agreement will enable
Transnational to begin operations on our existing gypsum
properties as well as finalise the acquisition of other
propeties that we’ve been negotiating," Katz said,
adding: "We are confident that the mining equipment being
provided to us will enable our mining projects to essentially
operate as turnkey operations."