16 Feb 2015 07:00
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
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Tel: +44 (0) 20 3470 0470
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SP Angel Corporate Finance (Nomad and Broker) Robert Wooldridge / Katy Birkin
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Tel: +44 (0) 20 3470 0470 |
Yellow Jersey PR Limited (Financial PR)Dominic Barretto / Kelsey Traynor
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Tel: +44 (0) 7768 537739 |
Keith, Bayley Roger & Co (Joint Broker) Brinsley Holman
| Tel: +44 (0) 20 7464 4098 |
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