Tri-Star Resources PLC Preliminary refractory gold report (1027T)
July 15 2015 - 4:07AM
UK Regulatory
TIDMTSTR
RNS Number : 1027T
Tri-Star Resources PLC
15 July 2015
15 July 2015
Tri-Star Resources plc ("Tri-Star" or the "Company")
Preliminary third party technical report outlines opportunity
for refractory gold
Tri-Star announces that it has received a preliminary third
party independent technical report commissioned to review the
Company's proprietary "clean roasting" technology and specifically
its application to refractory gold.
The report, prepared in connection with the Company's agreed
conditional deal to sell its intellectual property rights to joint
venture company Strategic & Precious Metals Processing LLC (as
previously announced on 5 June 2015) highlights four key attributes
pertaining to Tri-Star's technology:
- Tri-Star's clean roasting technology, which is a two-step
process consisting of a reduction roast followed by an oxidation
roast, is confirmed as a viable technology for treating refractory
gold ores;
- The report's preliminary economic assessment based on a
representative suite of feed-stocks generates an estimated Net
Present Value of close to US$1 billion and an Internal Rate of
Return of 45%. This is based on a nominal 500,000tpa processing
facility based in the Middle East producing 500,000 ounces of gold
per annum;
- A detailed comparative analysis of 39 selected gold projects
either at advanced stages of development or nearing production
highlighted major competitive advantages that the Tri-Star
technology and facility could offer;
- The clean roasting technology provides a process for
refractory gold concentrates treatment which should be highly
efficient and cost effective with distinct advantages over
competing treatment processes combined with full environmental
compliance.
Emin Eyi, Managing Director of Tri-Star, said: "We are delighted
that this new report prepared by an independent third party expert
in refractory gold has confirmed materially improved economics for
our clean roasting technology compared with earlier assessments
announced to the market on 20 December 2013 and also that our
technology can be increasingly competitive in this large and
important refractory gold market."
Enquiries:
Tri-Star Resources plc Tel: +44 (0)
Emin Eyi, Managing Director 20 3470 0470
Guy Eastaugh, Chief Financial
Officer
SP Angel Corporate Finance (Nomad Tel: +44 (0)
and Broker) 20 3470 0470
Robert Wooldridge / Katy Birkin
FORWARD LOOKING INFORMATION
This press release may contain "forward-looking information", as
defined under applicable Canadian securities laws. Forward-looking
information typically contains statements that relate to future,
not past, events and often contains words such as "anticipate",
"believe", "plan", "estimate", "expect", and "intend", statements
that an action or event "may", "might", "could", "should", or
"will" be taken or occur, or other similar expressions. There can
be no assurance that the forward-looking information contained in
this report will prove to be accurate, and actual results and
future events could differ materially from those anticipated in
such information.
All statements, other than statements of historical fact,
included in this press release including, without limitation,
relating to the OAR (as defined), the Company's intentions with
respect to a gold roasting facility and plans for its mineral
properties, constitute forward-looking information. Forward-looking
information is based on a number of factors and assumptions which
have been used to develop such information but which may prove to
be incorrect, including, but not limited to, assumptions in
connection with the ability to deliver any of the outcomes referred
to in respect of the OAR, the ability to complete construction of
the OAR, the availability of financing for the cost of the OAR on
acceptable terms, or likewise any facility that might process
refractory gold, and general economic and market conditions.
Forward-looking information involves known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements, or other future events, to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking
information. Such factors include, among others, risks associated
with changes in laws applicable to the OAR, the ability to raise
finance on acceptable terms for any of the projects or facilities
mentioned, the volatility of commodity and raw material prices,
currency exchange rates and interest rates, global economic
conditions and the additional risks identified in this press
release or other reports and filings with applicable securities
regulators. Forward-looking information in this press release is
based on the Directors' beliefs, estimates and opinions on the date
of this press release and the Company does not undertake to update
publicly or revise the forward-looking information contained in
this press release, except as required by applicable securities
laws.
Any financial outlook or future-oriented financial information
in this press release, as defined by applicable Canadian securities
laws, has been approved by the Directors as of the date of this
press release. Such financial outlook or future oriented financial
information is provided for the purpose of providing information
about the Company's current expectations and plans relating to the
future. Readers are cautioned that such outlook or information
should not be used for purposes other than for which it is
disclosed in this press release.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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