28 Nov 2017 07:00
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
28 November 2017
Tri-Star Resources plc
("Tri-Star" or the "Company")
Directorate Change
Strategic & Precious Metals Processing LLC ("SPMP") has advised the Company that Emin Eyi has stepped down as SPMP's Chief Executive Officer with immediate effect but will continue to have a key role advising SPMP on its branding strategy for antimony as well as on other uses for SPMP's current technology. SPMP is developing the Oman Antimony Roaster ("OAR") project in Sohar, Oman. Tri-Star has a 40% equity interest in SPMP.
Emin Eyi was the founder and promoter of the antimony roaster concept and has made a major contribution to bringing the OAR into reality. SPMP states that it is delighted that SPMP will still have access to Emin's immense knowledge of this commodity going forward.
Mr Jason Peers, an existing SPMP Director, is being appointed Interim Chief Executive Officer, in the meantime. Jason has been closely involved with SPMP since its initial formation. He has developed a wealth of experience whilst operating in the Middle East over the last 27 years and has been involved in natural resources throughout his career. Jason is the SPMP Board Representative for Dubai Natural Resources Ltd, an investor in the project.
Separately, SPMP has confirmed that the OAR project remains on budget and on schedule. Cold commissioning is expected to start in January 2018. Commitments to supply concentrates have been received from a number of suppliers to enable the facility to ramp-up to design capacity by the end of 2018.
Emin Eyi remains a Non-Executive Director and Deputy Chairman of Tri Star Resources plc.
Enquiries:
Tri-Star Resources plc Tel: +44 (0) 20 3470 0470
Mark Wellesley-Wood, Executive Chairman
SP Angel Corporate Finance (Nomad and Broker) Tel: +44 (0) 20 3470 0470
Robert Wooldridge / Jeff Keating
Yellow Jersey PR Limited (Media Relations) Tel: +44 (0) 776 932 5254
Charles Goodwin / Julia Kalcheva / Joe Burgess