Certain
information contained in this announcement would have been deemed
inside information for the purposes of Article 7 of Regulation (EU)
No. 596/2014 until the release of this announcement
30th October 2018
Tri-Star Resources
plc ("Tri-Star" or the "Company")
SPMP Project
Update
Tri-Star (AIM: TSTR), the mining and minerals processing
company, is pleased to announce an update on the hot commissioning
currently underway at Strategic & Precious Metals Processing
LLC’s ("SPMP’s") antimony-gold processing facility in Oman, in which the Company has a
40%-shareholding.
SPMP Update Summary:
- Feedstock has been passed through the furnace and has
successfully produced intermediate products, including: crude
antimony trioxide (“CATO”) and impure antimony trioxide (“IATO”)
which contain 97% pure antimony;
- Hot commissioning of the plant continues with dry gas and wet
gas commissioning underway;
- We understand that the end of October first antimony date will
not be met however, we are working closely with the SPMP management
team to gauge the timing of first metal;
- Heating up the Tilting Rotary Furnaces also currently underway
in order to commission the antimony trioxide (“ATO”) fuming and
produce and the first bag of pure ATO product;
- Successful meetings around the recent LME week has resulted in
further feedstock orders being secured.
Karen O’Mahony, Acting Chief Executive
Officer of Tri-Star, commented:
“The board members of SPMP, which
includes members of Tri-Star’s Board, assembled for an update
meeting on the 16th of October and were given a tour of
the SPMP Project site in Sohar. The site visit revealed positive
progress had been made on the various circuits of the plant and the
members observed feedstock being processed.”
“While the delay in first metal is
unfortunate, production ramp up always presents some issues and we
are pleased with the progress that Steven
Din and his team are making.”
Steven
Din, CEO of SPMP, commented:
“Hot commissioning is a systematic
process and we are taking it one step at a time. As we resolve each
of the challenges we encounter, we edge closer toward producing
first metal and commercial production of antimony and gold. We are
confident in the robust design of what is a unique process plant
operating within the highest environmental standards.”
Enquiries:
Tri-Star Resources plc
Karen O’Mahony, Acting CEO/
CFO
Tel: +44 (0)20 7653 6291
Tavistock Communications Ltd
Charles Vivian/ Gareth
Tredway
Tel +44 (0)20 7920 3150
SP Angel Corporate Finance (Nominated Adviser)
Robert Wooldridge/Jeff
Keating
Tel: +44 (0)20 3470 0470
FinnCap Ltd (Broker)
Christopher Raggett/Camille
Gochez
Tel: +44 (0)20 7220 0500
Notes to the Editor
Tri-Star’s principal activities are in an antimony and gold
production facility (the “SPMP Project” or the “Project”).
The SPMP Project is based in Sohar, Sultanate of Oman, and is being developed by Strategic
& Precious Metals Processing LLC (“SPMP”), an Omani company in
which Tri-Star has a 40% equity interest.
Tri-Star also has antimony exploration licenses in Canada and Turkey and a mining permit in Turkey which are held for their potential
contribution of feedstock to the SPMP Project.