Tri-Star Resources PLC Capital Budget Update (4569C)
June 28 2016 - 3:20AM
UK Regulatory
TIDMTSTR
RNS Number : 4569C
Tri-Star Resources PLC
28 June 2016
28 June 2016
Tri-Star Resources plc
("Tri-Star" or the "Company")
Oman Antimony Roaster - Capital Budget Update
Tri-Star Resources plc (AIM: TSTR), the independent mining and
mineral processing company, announces that the Board of Strategic
& Precious Metals Processing LLC ("SPMP") has approved an
increased capital budget of US$3.4 million to US$65.5 million with
respect to the construction of the Oman Antimony Roaster ("OAR").
Tri-Star has a 40% equity interest in SPMP.
As was announced by Tri-Star on 28 April 2016, the Board of SPMP
decided earlier in the year to progress technical work on
incorporating a process utilising existing equipment in OAR to
recycle and recover precious metals (the "Gold Recovery Process").
The Board of SPMP has now unanimously resolved to approve the
incremental capital cost of including this facility.
SPMP's Board has approved the capital cost of the OAR project of
up to US$65.5 million, previously US$62.1 million, which is
expected to be funded from existing SPMP facilities. The inclusion
of the Gold Recovery Process is an important and logical next step
for OAR as it allows the project to accept a wide range of antimony
feedstocks, including those associated with gold. This added
capability also opens up a significant and new revenue stream for
the project, with SPMP believing it potentially increases the plant
revenue opportunity by a further 50%. Furthermore, the knowledge
gained from the operation of this gold recovery plant will provide
SPMP with valuable engineering design and operating information for
future refractory gold processing initiatives.
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)
Relations) 7825 916 715
Dominic Barretto / Alistair
de Kare-Silver
Notes to Editors
Tri-Star Resources plc is an independent mining and mineral
processing company, which is quoted on the AIM market of the London
Stock Exchange plc. The Company is engaged in the exploration,
mining and downstream value added processing for a minor metal,
antimony.
Tri-Star is a partner in the Oman Antimony Roaster Project, a
planned antimony production facility with a capacity of 20,000
tonnes per annum of metal being developed in Sohar, Oman by
Strategic & Precious Metals Processing LLC, an Omani company in
which Tri-Star has a 40% interest. Tri-Star also has antimony
exploration licenses in Turkey and in Canada (New Brunswick) and a
mining permit in Turkey.
Tri-Star has a highly experienced management team with
capabilities in exploration geology, mining, mineral processing and
finance.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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