TSTR.L Regulatory News (TSTR)

8 December 2017

Tri-Star Resources plc

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

SPMP outlines its senior management team

Strategic & Precious Metals Processing LLC ("SPMP") has detailed its senior management team following the appointment of Jason Peers as Interim Chief Executive Officer. Tri-Star owns a 40% equity interest in SPMP.

SPMP's management team now comprises:

Jason Peers, Interim Chief Executive Officer. Jason was appointed Interim Chief Executive Officer of SPMP on 28 November 2017 and, having been heavily involved in SPMP since its formation, is perfectly positioned to bring the project into maturity. Jason is also a Board Representative for Dubai Natural Resources Ltd, an investor in SPMP.

As a career banker with three market leaders, Lloyds, Saudi International Bank, and subsequently as a managing Director with Barclays, Jason has managed a large number of major project financings across the Middle East. Jason has been active in the natural resources sector throughout his career as a banker, consultant and, more recently, leading investments.

With decades of experience in the Middle East, Jason sits on the International Project Finance Association (IPFA) Middle East Council and previously sat on the Board of the Arab British Joint Chamber of Commerce. He has a wealth of experience in the region and is a major asset to the Company. Jason is fellow of the Chartered Institute of Securities and Investment.

Mark Wellesley-Wood, Director. Mark is Executive Chairman of Tri-Star and a Non-Executive Director on the Board of SPMP. Mark has over 40 years' experience working across both the mining industry and investment banking. He is a mining engineer, Fellow of the Institute of Mining, Metallurgy and Materials and has also been a director of Investec Investment Banking and Securities in London. Mark also has extensive mining experience, being Executive Chairman and CEO of South African gold miner, DRDGold Ltd. Mark will play a crucial role in the ongoing operations and ramp-up of production in the OAR. 

Karen O'Mahony, Director.  Karen is a Non-Executive Director of Tri-Star and brings 15 years of experience in the purchasing, monitoring and restructuring of businesses. Karen represents Odey Asset Management on the Board of SPMP who have deep ties within the metal industry. She will be working closely with SPMP's partner, Traxys, who has a multi-year agreement for the supply of Antimony and Gold concentrates to the OAR. Karen is also the Founder and Managing Director of Private Equity Advisors Ltd.

Hussain Al Lawati, Vice Chairman.  Hussain brings extensive Banking and Finance expertise to the OAR project. He also holds the position of Associate Director and Vice Chairman of Financial Services at the Omani Investment Fund.

Gary Short joined SPMP early in 2017 and is Project Manager for the OAR. He has 27 years' experience in the mining industry and holds an NHD in Extractive Metallurgy and PMP qualification. Gary has previously managed two greenfield gold projects in South Africa and the DRC.

Brian Spratley is the General Manager of Technical. He has 47 years' experience in natural resources, having been involved in exploration to production in the base metal and industrial minerals industries. He has been integral to the development of the SPMP OAR since the inception of the project. Brian has worked for both established corporates and junior start-up companies involved in exploration to production worldwide in the base metal and industrial mineral industries.

Duan Anderson, as General Manager of Production has 20 years' experience in extractive metallurgy with a degree in Chemical Engineering. He has held numerous senior roles involved in mineral processing and base metal refining. He previously worked at Lao PDR for MMG in copper mining, mineral processing and refining. Duan also worked for African American Platinum in South Africa, with Platinum Group Metal (PGM) precious metals and base metals refining.

Ali Al Lawati has been Chief Financial Officer of SPMP since 2015 and has been involved in professional Financial Management in Oman for decades, working for the Omani Investment Fund, and gained considerable experience as a Finance Manager with the Sohar Refinery and an Omani oil refinery business.

Salik Khawaja has been General Manager of Commercial and Contracts at SPMP since 2016. He has previously held executive positions at Associated British Foods as well as BP Alternative Energy's Emerging Consumer Markets as head of Product Development and Supply Chain.

Alex Vallet joined SPMP in 2017 as Trade Manager and has had broad experience in commodity trading at Vitol SA in downstream oil and gas as well as ferrous and non-ferrous metal and concentrate trading. Alex is a qualified chartered accountant and holds a Masters in Strategy Management Accounting.

AbdulRahman Mohammed Al-Khaifi is Head of Human Resources at SPMP and has more than 24 years' experience working across numerous industries, including senior roles at Sohar Aluminum and Raysut Cement.

Sean Spratley is SPMP's Environmental and ICT Manager. With 15 years' experience, he also worked for Tri-Star as Environmental manager ensuring the company met the highest of HSE standards and began his career at Golder Associates as a junior environmental scientist.

Mark Wellesley-Wood, Executive Chairman of Tri-Star said:

"The OAR will be entering the market at an opportune time as Chinese smelters come under increasing threat of closure on environmental grounds and demand for flame retardants is forecast to increase significantly.

"We are fortunate to have attracted a talented team capable of turning this opportunity into a reality while supported by the expertise residing in our Joint Venture Partners; Dutco Natural Resources and the Oman Investment Fund.

"On its completion, the OAR will be the first of its kind in the West for 50 years and, by employing new technology, the most environmentally acceptable.

"We are setting out to change the market dynamics in this commodity for the benefit of both our customers and shareholders alike - and our team is up to the challenge."

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