LAS VEGAS, July 9, 2015 (GLOBE NEWSWIRE) -- Transnational Group, Inc. "Transnational" (Pink Sheets:TAMG), today announced that the Company has received product orders for 1,300 tons of materials in its first week of operating the Marble Mountain Mine, putting it on pace to exceed its projected monthly production for the property.
"Transnational is very pleased with Marble Mountain's early operational success and production that puts this project on pace to be profitable during its first month and exceed our production estimates by up to 30%. To put this in perspective, the 1,300 tons of materials that we've sold during our first week of operating this mine exceeded the previous owner's typical production for an entire month, which is very encouraging for the Company and our shareholders," commented CEO of Transnational Group, Dr. Philip Dutoit.
On July 1st, Transnational Group's wholly owned subsidiary, TAMG Minerals, took full operational control of the Marble Mountain Mine in Southwestern Utah. The Company has begun generating revenue immediately due to its ability to secure orders for the mine's materials. According to management, Transnational's initial monthly production goal for Marble Mountain is approximately 4,000 tons of material, which it expects to sell for an average of $20 per ton to yield $80,000 in monthly revenue or nearly $1 million in annual revenue.
"Operations Manager for Marble Mountain, Gordon Harton, is pleased with our initial success and is currently preparing to make the operational changes necessary to continue increasing the property's production and ensure a smooth transition of operations while also making sure we have the infrastructure needed for rapid growth," added Dr. Dutoit.
About Transnational Group, Inc.
Transnational Group is a development stage holding company whose primary business is the acquisition and development of interests in the financial, consulting and natural resources sectors. The Company focuses on developing properties and business opportunities through partnerships and joint ventures while integrating management's best practices and expertise.
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 use certain terms on this press release, such as "reserves," "resources," "geologic resources," "proven," "probable," "measured," "indicated," or "inferred," which may not be consistent with the reserve 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.
Forward-Looking Statements:
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 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 our control.