Tri-Star Resources Plc Antimony Concentration 99.5% & Gold 5%, Issue of Equity

 
TIDMTSTR 
 
Tri-Star Resources PLC / AIM: TSTR / Sector: Natural Resources 
 
16 October 2019 
 
             Tri-Star Resources plc ("Tri-Star" or the "Company") 
 
            Antimony Concentration Reaches 99.5% & Gold Reaches 5% 
 
                               & Issue of Equity 
 
Tri-Star Resources plc (AIM: TSTR), the minerals processing company, is pleased 
to announce that the purity of antimony and gold being produced at the 
antimony-gold processing facility in the Port of Sohar Free Zone located in the 
Sultanate of Oman ("the Project"), has increased to 99.54% and 5% 
respectively.  The Project is owned by Strategic & Precious Metals Processing 
LLC ("SPMP") in which the Company holds a 40% interest. 
 
Overview 
 
  * 99.5% purity of Antimony metal reached, sufficient for the acid battery 
    market 
  * Gold concentration increased to 5%, and producing sufficient quantities for 
    sale with volumes also increasing 
 
Adrian Collins, Chairman of Tri-Star commented: "Reaching purities of 99.54% 
and 5% respectively for antimony and gold is a major step in the development of 
this exciting project.  Notably, at this concentration level, which is edging 
closer to our near-term target 99.65%, antimony can be sold into the acid 
battery market.  Additionally, SPMP is now producing saleable quantities of 
gold dore, the purity of which also continues to improve." 
 
Details 
 
The SPMP Project is the largest antimony roaster outside of China and the 
world's first 'Clean Plant', designed to EU environmental standards.  It has a 
targeted capacity to produce in excess of 50,000 oz. of gold and 20,000 tonnes 
in combined antimony metal and antimony trioxide ("ATO") per annum. 
 
SPMP remains focused on ramping up production to reach its targets. 
Accordingly, it has produced antimony metal at a grade of 99.54%, which is the 
minimum grade required by some companies in the acid battery market.  It is now 
concentrating on reducing further the impurity levels in its output with the 
near-term target being 99.65%, which is the industry standard. 
 
Additionally, SPMP is producing gold dore at over 5% concentration and in 
sufficient quantities for sale.  SPMP expects the concentration to increase 
further as production ramps up over the next few months. 
 
Tri-Star has a 40% shareholding in SPMP with the other joint venture partners 
being The Oman Investment Fund (40% equity holder) and DNR Industries Limited, 
part of Dutco Group in Dubai (20% equity holder). 
 
Issue of Equity 
 
Tri-Star has today allotted 60,273 ordinary shares of 5p each in the capital of 
the Company ("Ordinary Shares") at an average price of 41.48 pence per Ordinary 
Share in consideration for services provided. 
 
The Company has applied for admission of the 60,273 new Ordinary Shares (the 
"New Ordinary Shares") to trading on AIM. Dealings are expected to become 
effective on or around 21 October 2019 ("Admission"). The New Ordinary Shares 
represent approximately 0.064% of the total Ordinary Shares that are expected 
to be in issue. 
 
Following Admission, the Company will have 94,186,118 Ordinary Shares in issue. 
The Company has no shares in treasury, therefore the figure of 94,186,118 
should be used by shareholders as the denominator for the calculations by which 
they will determine if they are required to notify their interest in, or a 
change of their interest in, the share capital of the Company under the FCA's 
Disclosure Guidance and Transparency Rules. 
 
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. 
 
                                   **ENDS** 
 
For further information, please visit www.tri-starresources.com or contact: 
 
Tri-Star Resources plc                                              c/o SBP 
David Facey, CEO/ CFO                              Tel: +44 (0)20 7236 1177 
 
St Brides Partners (Financial PR) 
Isabel de Salis / Beth Melluish                    Tel: +44 (0)20 7236 1177 
 
SP Angel Corporate Finance (Nominated 
Adviser)                                           Tel: +44 (0)20 3470 0470 
Robert Wooldridge / Jeff Keating 
 
finnCap Ltd (Broker) 
Scott Mathieson / Camille Gochez                   Tel: +44 (0)20 7220 0500 
 
Notes to Editors: 
 
Tri-Star's principal interest is in an antimony and gold production facility 
(the "SPMP 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. 
 
 
 
END
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