28th Apr 2016 07:57
LONDON (Alliance News) - Tri-Star Resources PLC Thursday said the joint venture partners on the Oman Antimony Roaster project have approved the plan to develop a plant that can facilitate a secondary recycling process to recover precious metals.
Tri-Star holds a 40.0% stake in the joint venture company that holds the project, Strategic & Precious Metals Processing LLC, alongside its partners, the Oman Investment Fund and DNR Industries Ltd.
The approval will allow the project, which is expected to produce around 20,000 tonnes of antimony per year once constructed, to accept a wide range of antimony feedstock, including those associated with gold and also adds a new revenue stream to the project.
Further plant engineering and test-work on feed material will now be conducted and the joint venture company is hoping the experience from operating the plant will provide valuable engineering design and operating information for future refractory gold processing initiatives.
Tri-Star shares were trading up 17% to 0.105 pence per share on Thursday morning.
By Joshua Warner; [email protected]; @JoshAlliance
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