Oman Roaster Project Update

RNS Number : 9415E

Tri-Star Resources PLC

16 February 2015

 



Tri-Star Resources plc ("Tri-Star" or the "Company")

Oman Roaster Project Update

16 February 2015

Tri-Star, the integrated antimony development company, is pleased to provide an update on the Oman Roaster ("OAR") project.

Facility Offer Letter signed in Oman by SPMP

Strategic & Precious Metals Processing LLC ("SPMP") a company registered in the Sultanate of Oman, in which Tri-Star owns 40%, has agreed a Facility Offer Letter ("FOL") with Bank Nizwa, a bank based in Oman.  A signing ceremony took place in Muscat, Oman on 15 February 2015 to agree formally the FOL.

The FOL offers SPMP a Sharia compliant facility of up to US$40 million to be advanced on issue in Omani Rial, subject to the bank's detailed terms and conditions and the entering into of a formal Facility Agreement.  Provision of the banking facility also remains subject to a number of customary pre-conditions, including obtaining required environmental and other permits.

The overall funding package for SPMP's Oman Antimony Roaster Project remains at US$70 million; comprising a mezzanine loan of U$10 million, equity contributions of US$20 million from the joint venture partners, and the aforementioned banking facility of up to US$40 million.

Enquiries:

Tri-Star Resources Plc Emin Eyi, Managing Director Guy Eastaugh, Chief Financial Officer	Tel: [phone]
SP Angel Corporate Finance (Nomad and Broker) Robert Wooldridge / Katy Birkin	Tel: [phone]
Yellow Jersey PR Limited (Financial PR) Dominic Barretto / Kelsey Traynor	Tel: [phone]
Keith, Bayley Roger & Co (Joint Broker) Brinsley Holman	Tel: [phone]

This news release may contain "forward-looking information", as defined under applicable 
Canadian securities laws. Forward-looking information typically contains statements that 
relate to future, not past, events and often contains words such as "anticipate", "believe",
"plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", 
"could", "should", or "will" be taken or occur, or other similar expressions. There can be no 
assurance that the forward-looking information contained in this release will prove to be 
accurate, and actual results and futureevents could differ materially from those anticipated 
in such information.

All statements, other than statements of historical fact, included in this release including, 
without limitation, the viability of chemical processes, the financial assumptions, bases and 
outputs mentioned, constitute forward-looking information. Forward-looking information 
is based on a numberof factors and assumptions which have been used to develop such 
information but which may prove to be incorrect, including, but not limited to, assumptions 
in connection with the ability to deliver any of the outcomes referred to, the availability of 
financing and general economic and market conditions. Forward-looking information involves 
known and unknown risks, uncertainties and other factors which may cause actual results, 
performance or achievements, or other future events, to be materially different from any future 
results,performance or achievements expressed or implied by such forward-looking information. 
Such factors include, among others, risks associated with changes in laws, the ability to raise 
finance on acceptable terms for any of the projects or facilities mentioned, the volatility of 
commodity and raw material prices, currency exchange rates and interestrates, global economic 
conditions and the additional risks identified in the Company's Annual Report and Financial 
Statements for the year ended 31 December 2013 or other reports and filings with applicable 
securities regulators. Forward-looking information in this release is based on the Directors' 
beliefs, estimates and opinions on the date of this release and the Company does not undertake 
to update publicly or revise the forward-looking information contained in this release, except as 
required by applicable securities laws.

Any financial outlook or future-oriented financial information in this release, as defined by 
applicable Canadian securities laws, has been approvedby the Directors as of the date of this 
release. Such financial outlook or future oriented financial information is provided for the purpose 
of providing information about the Company's current expectations and plans relating to the 
future. Readers are cautioned that such outlook or information should not be used for purposes 
other than for which it is disclosed in this release.

 

END

 

 

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