Tri-Star Resources' shares rise on Oman Antimony Roaster update

19th Dec 2016 12:27

(ShareCast News) - Shares in Tri-Star Resources are up almost 5% as it said the engineering design, procurement of long lead-time items and plant layout for the Oman Animony Roaster (OAR) continue to advance.The OAR is being constructed by Tri-Star's Omani joint-venture company, Strategic & Precious Metals Processing LLC (SPMP). Tri-Star holds a 40% equity interest in SPMP."As noted in the Company's most recent update of 4 November 2016, engineering design, procurement of long lead time items and plant layout continues to advance," Tri-Star said."SPMP has been pleased with responses from potential suppliers of feedstock and has been conducting bulk commercial trials with concentrates containing both antimony and gold. Further trials and test-work are ongoing," Tri-Star added.Additional resources had been added by SPMP to the project team and Tri-Star said it was confident the OAR remained on course for commissioning by end-2017, as previously advised."The company is also pleased to report that over half of the capital outlay has been bid committed or incurred by SPMP."Site construction activity in Sohar has now commenced and major capital items are scheduled to arrive on site during the first half of 2017."At about 12:24 GMT, shares in Tri-Star were up 4.54% to 0.12p.