Transnational expands Nevada gypsum claims

By James Sean Dickson
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 5.1km2.

"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, Jingru Wei.

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."