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
(Financial PR) |
Tel: +44 (0) 20 7920
3150 |
| 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 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 an antimony exploration license in
Canada which is held for its
potential contribution of feedstock to the SPMP Project.