9th Apr 2015 08:49
LONDON (Alliance News) - Antimony development company Tri-Star Resources PLC on Thursday said a report has been delivered on its Oman antimony roaster project providing a capital expenditure estimate for the construction of the facility that is in line with expectations.
Tri-Star said the report, delivered to Strategic & Precious Metals Processing LLC, in which Tri-Star owns a 40% stake, estimated an overall capital cost of USD62.1 million for the project, in line with previous estimates. It noted the report does not include the cost of a pilot plant on the site, which is expected to become operational before the main plant.
"This is another important milestone which demonstrates the viability of the roaster project. Our focus in now to ensure that construction can commence before the end of the year," said Emin Eyi, Tri-Star's managing director.
Shares in Tri-Star were up 8.5% to 0.1193 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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