LONDON (Alliance News) - Tri-Star Resources PLC Thursday said it remains confident of achieving its objectives for 2016 "against a backdrop of recovering antimony prices."
In a statement ahead of the company's annual general meeting it said it has made "significant progress" at its Strategic & Previous Metals Processing LLC joint venture in Oman since achieving financial close last September.
The project is fully funded to bring the Oman antimony roaster plant it is constructing into production, and it expects construction will be completed in 2017 within its original capital cost estimate of USD62 million.
The company said that, of particular significance, it has been developing an additional revenue stream for the Oman antimony roaster plant. Tri-Star said that by adapting its original flow sheet, but without increasing its capital budget, the plant has been modified to recover by-product gold from mixed gold-antimony concentrates. This widens the range of feedstocks accessible to the plant.
Shares in Tri-Star were down 12% at 0.0840 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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