Tri-Star (AIM: TSTR), the integrated antimony
exploration and development company, has entered into an
agreement with RDP Singapore Limited ("RDPS")
(the "Collaboration Agreement") under which,
Tri-Star will provide technical collaboration and advice to
RDPS in relation to its Myanmar antimony projects, which
include exploration rights surrounding two existing
producing deposits and any additional antimony projects
identified in Myanmar by either Tri-Star or RDPS (the
"Antimony Projects"). RDPS is a subsidiary
of Resource Development Partners Limited ("RDP"),
the London based mining finance house specializing in
natural resource investments.
The first stage of the Collaboration Agreement will
involve Tri-Star providing technical expertise to RDPS and
performing a series of geological and metallurgical
assessments at the Antimony Projects. Following the
completion of the initial assessment work, the board of
directors of Tri-Star (the "Board") will make a
decision regarding any further collaboration with
RDPS. The Board expects this initial work to be
completed within 6 to 12 months and subject to the results
of the assessments the Board will consider further
investment in the Antimony Projects and seek to negotiate
an exclusive off-take arrangement with RDPS.
RDPS is a private holding company incorporated in
Singapore, which invests in the Myanmar mining industry, in
addition to other sectors. The principals, James Hyndes and
Christian West, have regional investment and mining
experience, and are supported by a strong board with
members based both in South East Asia and Myanmar. RDPS has
identified two operating antimony mines in Myanmar and will
focus on expanding the surrounding prospective areas over
which it owns the exploration rights. RDPS is engaged in
seeking other projects of merit and its strategy is to
develop strong local relationships in key commodity
sectors.
Commenting on the Collaboration Agreement, Emin Eyi,
Managing Director of Tri-Star Resources, said:
"The experience RDPS has, together with the
strength of its relationships locally, means the company is
very well positioned to develop opportunities in Myanmar
and we look forward to utilising our geological and
metallurgical skills in assisting them, and in turn the
Myanmar resource industry, to improve standards and enhance
exploration and production potential. Importantly, we are
encouraged by the possible sourcing of raw materials which
can potentially be processed at Tri-Star's proposed UAE
roaster facilities in the future."
Myanmar opportunity
Myanmar has a very rich mineral record but is
relatively underexplored. The geology of the region has the
potential to host world class metal deposits. Located
between the Cathy (Asian) and Indian plates the large
continental sutures and faults such as the Shan Boundary
Fault control a large number of mineral formations. Metal
deposits in Myanmar include antimony, tin, lead, zinc,
copper, precious metals and industrial minerals. There are
over 30 known antimony occurrences recorded in the Country.
Many of the antimony deposits are associated with tungsten
and gold.
Myanmar is estimated to have produced over 14,000
tonnes of antimony in ore form in 2011, sold almost
entirely overseas. It is one of the largest single country
sources of antimony raw material for Chinese
facilities.
Tri-Star Resources plc
Emin Eyi,
Managing Director
Tel: +44 (0) 20 3463 2270
Brian Spratley, Technical
Director
Tel: +44 (0) 12 3362 9351
Strand Hanson Limited (Nomad)
James Harris / Paul
Cocker
Tel: +44 (0) 20 7409 3494
Gable Communications
Justine James / John BickTel : +44
(0) 20 7193 7463
Tel : +44 (0) 7525 324431
About RDP & RDPS
RDP is a London based mining finance house
specialising in early stage investments in the natural
resource sector. RDP provides support services, seed
financing and direct investment to a number of companies,
including companies exploring and or producing in the
Philippines, Guinea, Kazakhstan and, via RDPS, in
Myanmar.
RDPS is a special purpose Singaporean company
established by RDP and its Singaporean director James
Hyndes, specifically to invest in Myanmar based
opportunities. RDPS has signed letters of intent and joint
venture contracts in relation to projects in the mining and
natural resources sectors, as well as manufacturing and
property sectors. It has offices in Singapore and is in the
process of staffing and establishing a Yangon based
office.
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