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Share Name Share Symbol Market Type Share ISIN Share Description
Tri-star Resources Plc LSE:TSTR London Ordinary Share GB00BGDLPW84 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 21.00 20.00 22.00 21.00 21.00 21.00 12,328 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Metals 0.0 -6.0 -0.0 - 20

Tri-Star Resources Plc - Update on SPMP

09/01/2020 7:00am

PR Newswire (US)


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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
David Facey, CEO/ CFO 
c/o SBP
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)
Robert Wooldridge / Jeff Keating

Tel: +44 (0)20 3470 0470
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.

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