TransNational (TAMG) ? 1,000 Tons of Raw Titanium Per Day
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TransNational Group Inc. (TAMG)
Seeking Mining Claims on Montana Titanium
Titanium and Iron ore tailings from the Anaconda claim, could initially produce up to 1,000 tons of raw material per day.
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Transnational Group, Inc. has formed a joint venture with Lanix Exploration, Inc. called TAMG Minerals, Inc. to acquire the mineral and mining rights to develop one to three target claims located in Anaconda, Butte and Havre, Montana.
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"This projected amount would generate approximately $1 million in monthly operating income or $12 million in annual operating income"
| | Transnational Group is to own a 50% interest in the joint venture in on the Montana claims. Lanix Exploration will execute and oversee the project's permitting and mining operations.
Lanix projects that titanium and iron ore tailings from the Anaconda claim, which is a former gold mine, could initially produce up to 1,000 tons of raw material per day. This projected amount would generate approximately $1 million in monthly operating income or $12 million in annual operating income. These tailings are present on the surface or at shallow depths, greatly reducing the Company's processing costs.
During the project's proposed second phase, Transnational Group plans to separate the titanium and iron ore tailings from the raw materials on the property. As a result, on the Anaconda claim, Lanix would expect to double production from 1,000 tons of raw material daily to 1,000 tons each of titanium and iron ore.
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"This agreement represents a potential sizeable revenue stream and profit margins for Transnational Group with minimal to no production risk, and is expected to greatly increase shareholder value."
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"This agreement represents a potential sizeable revenue stream and profit margins for Transnational Group with minimal to no production risk, and is expected to greatly increase shareholder value. Given the expertise of Lanix's management team, in identifying and extracting rare earth elements and minerals, we are very confident they will quickly complete the acquisition and permitting process and bring our joint venture's property into production within the next quarter,"
Dr. Philip Dutoit ~ CEO
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"It is important that our shareholders realize the delays we are experiencing have been caused by unforeseen circumstances regarding the property owners and not Transnational Group. We remain ready to close on these properties and begin production as soon as possible."
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Transnational Group Provides Update on Joint Venture
Jul 01, 2014
Globe NewsWire
Transnational Group, Inc. (Pink Sheets:TAMG), today provided an update regarding its recently announced joint venture created to produce titanium and iron ore on former Montana gold mines.
"Transnational Group would like to update its shareholders and the investment community regarding the acquisition of various resource rich properties pursuant to our joint venture with Lanix Exploration," stated Dr. Philip Dutoit, CEO of Transnational Group.
"We are still working diligently with Lanix Exploration to acquire the mineral and mining rights to develop target claims from owners located in Anaconda, Butte and Havre, Montana. However, due to unforeseen circumstances that have arisen between the property owners and Lanix, there will be a delay of the 90 day estimate provided regarding the production of raw materials on these properties as stated in our May 20th news release.
"It is important that our shareholders realize the delays we are experiencing have been caused by unforeseen circumstances regarding the property owners and not Transnational Group. We remain ready to close on these properties and begin production as soon as possible."
"Transnational Group is continuously working to acquire additional resource-rich properties that will increase shareholder value and expects to announce positive developments along this front in the near future," continued Dr. Dutoit.
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"Transnational Group is continuously working to acquire additional resource-rich properties that will increase shareholder value and expects to announce positive developments along this front in the near future"
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