Tri-Star Resources Plc Update on SPMP

 
TIDMTSTR 
 
Tri-Star Resources PLC / AIM: TSTR / Sector: Natural Resource 
 
9 January 2020 
 
             Tri-Star Resources plc ("Tri-Star" or the "Company") 
 
                                Update on SPMP 
 
Tri-Star Resources plc (AIM: TSTR), the minerals processing company, announces 
an update on its investment in Strategic & Precious Metals Processing LLC 
("SPMP") an antimony and gold production facility in the Sultanate of Oman in 
which the Company holds a 40% equity interest. The other joint venture partners 
are The Oman Investment Fund ("OIF") (40% equity holder) and DNR Industries 
Limited, part of Dutco Group in Dubai (20% equity holder). 
 
Following a USD 16 million cash injection by OIF into SPMP and consequent 
payments made by SPMP to its bankers, the Board of Tri-Star has been informed 
that SPMP is no longer in technical default on its loans to Bank Nizwa SAOG and 
Alizz Islamic Bank SAOG. 
 
Negotiations between the shareholders of SPMP continue as to how the short term 
financing (including the USD 16 million referred to above) to SPMP will be 
structured and on what terms. 
 
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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January 09, 2020 02:00 ET (07:00 GMT)

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