Tri-Star Resources agrees sale of intellectual property rights

5th Jun 2015 08:52

Tri-Star Resources has agreed the conditional sale of some of its intellectual property rights to its 40%-owned business, Strategic & Precious Metals Processing (SPMP), it announced on Friday.The firm will earn up to $6.0m on the deal, paid in three tranches.The agreement covers all of Tri-Star's developed and proprietary intellectual property rights relating to clean antimony concentrate roasting and the related clean roasting of refractory gold.The transaction will only go ahead if SPMP reaches financial close on its Oman Antimony Roaster Project.The net cash receipts of the sale will be up to $3.6m, which will be applied to finance Tri-Star's equity commitment to the project as well as for general corporate purposes.