Tri-Star Resources Plc - SPMP Project Update
PR Newswire
London, October 30
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.
