News Column

Tri-Star Expects "Significant Advancement" For 2014, Loss Narrows

May 2, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Tri-Star Resources PLC Friday said that it expects 2014 to be a period of "significant advancement," as it posted a narrowed pretax loss in the quarter to end-March.

The integrated antimony development company posted a pretax loss of GBP68,000, narrowed from a loss of GBP522,000, as a GBP736,000 finance income offset GBP628,000 administrative expenses and loss from operations.

In April the company agreed with its joint venture parters Oman Investment Fund and Castell Investments Ltd to form Strategic & Precious Metals Processing LLC, which will construct and operated a 20,000 tonne per year metal and tri-oxide roasting facility in the Sultanate of Oman.

Under the agreement Tri-Star will own 40% of the joint venture, Oman Investment will own 40% and Castell will own the remaining 20%. On the joint venture's board, three of the directors will be appointed by Oman Investment, two by Tri-Star, one by Castell and one jointly by Tri-Star and Castell.

Shares in Tri-Star were trading down 2.1% at 0.206 pence Friday morning.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Alliance News

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters