Tri-Star Resources PLC Disposal of Golden Pike (8616J)
December 22 2015 - 5:02AM
UK Regulatory
TIDMTSTR
RNS Number : 8616J
Tri-Star Resources PLC
22 December 2015
22 December 2015
Tri-Star Resources plc
("Tri-Star" or the "Company")
Disposal of Golden Pike
Tri-Star announces that it has reached agreement with Globex
Mining Enterprises Inc. ("Globex") for the sale of Tri-Star's
interests in the Devil's Pike gold discovery in New Brunswick,
Canada (also known as Golden Pike). The deal comprises 119 of the
124 claims owned by Tri-Star comprising the Devil's Pike claim
group. The five excluded claims cover the Bond Road antimony target
and are being retained by the Company. As consideration, Tri-Star
will receive 350,000 Globex shares and potential future royalty
payments on production. The transaction is subject to customary
closing conditions and is expected to be completed in January
2016.
Commenting on the transaction, Guy Eastaugh, Chief Executive
Officer, said: "We are pleased to have reached agreement on the
sale of these claims, in the process realising value for Tri-Star
shareholders for assets no longer core to the business. In so
doing, we are retaining the Bond Road claims considered
strategically important to the adjacent Bald Hill antimony
discovery".
Enquiries:
Tri-Star Resources plc Tel: +44 (0)
Guy Eastaugh, Chief Executive 20 3470 0470
Officer
SP Angel Corporate Finance (Nomad Tel: +44 (0)
and Broker) 20 3470 0470
Robert Wooldridge / Jeff Keating
Yellow Jersey PR Limited (Media Tel: +44 (0) 7738
Relations) 076304
Dominic Barretto / Alistair
de Kare-Silver
This information is provided by RNS
The company news service from the London Stock Exchange
END
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