$TAMG is focusing on these types of projects:
Iron Ore Property
We are negotiating for the purchase of an 80% equity common stock ownership of a Nevada corporation which, at closing, will control 70 contiguous mining claims in Alaska. The non-binding term sheet agreement, which has not yet been signed, outlines a contemplated definitive agreement to be executed where Transnational Group will receive 80% of the corporation’s common shares in exchange for a $10 million capital investment in the development of the Iron Ore Project. The Company will also pay $304,000 (Canadian CAD) in cash and $68,100 to the U.S. Bureau of Land Management for the property’s drilling permit.
The 70 claims have an estimated 687 million tons of recoverable iron ore with an estimated quality between 40% and 50%, based on historical studies conducted by the U.S. Bureau of Mines, the U.S. Geological Survey and other sources. A June 2013 technical report commissioned by the target property’s current owner reported pellet feed fines in excess of 60% Fe.
Based on management’s current estimates, the property could produce up to 200,000 tons of iron ore per month at a grade between 40% and 60% once we have three plants fully equipped and operational.
Gypsum Mine
The Company has just engaged in negotiations to acquire a 204 acre gypsum mining property in Clark County, Nevada.
The property, which was in production briefly in 2012, has three main gypsum beds, which, according to a 1964 study, has a total inferred gypsum resource estimated to be 11.6 million tons with 90% purity and 10 million tons of dolomitic limestone, as set forth in a 2013 Mine Plan. A 2013 Gypsum Investigation Geology Report, based on limited data available for only 10 of the 204 acres, estimated 1,193,486 tons of in-situ gypsum. The Mine Plan recommends a detailed core drilling program, including sampling, resource reserve estimation, geologic interpretation and further mine planning, with production targets of 290,000 tons of gypsum per year, sufficient to generate net revenues in excess of $3 million per year with a 40 year mine life.
