Tri-Star Resources Plc Transfer of ownership of Göynük Project in Turkey

 
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: [phone] 
 
Tavistock                                          Tel: [phone] 
(Financial PR) 
 
Charles Vivian                                  Mobile: [phone] 
 
Gareth Tredway                                  Mobile: [phone] 
 
SP Angel Corporate Finance 
(Nominated Adviser) 
 
Robert Wooldridge/Jeff Keating                      Tel: [phone] 
 
finnCap 
(Broker) 
 
Christopher Raggett/Scott Mathieson/Camille         Tel: [phone] 
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 
 

(END) Dow Jones Newswires

March 05, 2019 02:00 ET (07:00 GMT)