Tri-Star Resources Plc Transfer of ownership of Göynük Project in Turkey
March 05 2019 - 2:00AM
UK Regulatory
TIDMTSTR
5 March 2019
Tri-Star Resources plc
("Tri-Star" or the "Company")
Transfer of ownership of Göynük Project in Turkey
Tri-Star (AIM: TSTR), the mining and minerals processing company, is pleased to
announce it has completed the transfer of ownership of its Turkish antimony
asset and has received the second payment of US$200,000 due under the Sale and
Purchase Agreement ("SPA").
The disposal of the Company's 100% interest in the Göynük mine in Turkey was
agreed and announced on 24th January 2019, for a total cash consideration of
US$500,000, with the first tranche of US$200,000 received by Tri-Star at the
time.
The second tranche of US$200,000 fell due on the transfer of ownership, which
has now taken place.
A third and final payment of US$100,000 falls due on the first sale of material
from the mine. The Purchaser has previously indicated plans to bring the mine
back into production before the end of 2019.
ENDS
Enquiries:
Tri-Star Resources plc
Karen O'Mahony, Acting CEO/ CFO Tel: +44 (0) 20 7653 6291
Tavistock Tel: +44 (0) 20 7920 3150
(Financial PR)
Charles Vivian Mobile: +44 (0) 7977 297 903
Gareth Tredway Mobile: +44 (0) 7785 974 264
SP Angel Corporate Finance
(Nominated Adviser)
Robert Wooldridge/Jeff Keating Tel: +44 (0)20 3470 0470
finnCap
(Broker)
Christopher Raggett/Scott Mathieson/Camille Tel: +44 (0)20 7220 0500
Gochez
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 an antimony exploration license in Canada which is held for
its potential contribution of feedstock to the SPMP Project.
END
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