Tri-Star Resources struck an upbeat tone as it recorded losses had widened in the three months to the end of September on higher administrative expenses.The AIM-quoted mining company pointed out that it had achieved two important milestones since the end of the third quarter. It has completed its acquisition of Canadian mineral exploration company Portage and it has signed a memorandum of understanding with the Oman Investment Fund and Castell Investments to set up a joint venture to build a $60 antimony metal roasting facility in Oman which it calls the "roaster project".Managing Director Emin Eyi said: "We now look forward to entering the exciting and challenging detailed planning and execution phase of the roaster project."Losses widened to £1.2m in the three months to the end of September from £0.8m in the same period last year after administrative expenses rose to £1.2m from £0.8m. Tri-Star completed a placing of £4m convertible bonds with Odey European in June of which £1.33m was drawn down immediately and the remainder drawn down in full in September.Shares in Tri-Star were down 1.39% at 0.36p at 15:00 on Friday. TB
