http://moneyam.uk-wire.com/Article.aspx?id=201012170700071483Y

Back in @ 0.91

Aldo....0.91 of one penny...

Topped up today.

China defended its policy of imposing strict controls over the export of rare earth minerals.

up 18 % so far this morning

1.14 bid this afternoon now back to 1.11

Antimony supply really has collapsed

Antimony is a rare, silver-grey metal. Its most common use is as a fire retardant in objects as diverse as toys, clothing and car and plane seat covers. As an alloy it is also used in soldering, in lead batteries and in ball bearings. It is now also finding some use in microelectronics.

It's a tiny market. Worldwide 187,000 tonnes were produced in 2009. To put that in perspective, somewhere near 16 million tonnes of copper was produced in the same time.

But here's the clincher: of those 187,000 tonnes, 170,000 - or 91% - came from China. But China has capped production this year to 100,000 tonnes. With demand unchanged above 150,000 tonnes, this has forced a supply crunch. As a result, the price has tripled, from $4,000 a tonne in 2009 to about $12,000.

Even at these high prices antimony will still be bought. The amount of metal used in, say, a seat cover is so small that a higher antimony price barely affects the overall economic viability of the industrial item in question.

Nobody quite knows why China has capped production. In the central province of Hunan, which produces about 60% of the world's antimony, hundreds of illegal antimony smelters have been closed down. This may be to do with pollution. The area has a high rate of lung cancer and other illnesses. Antimony and many of its compounds are toxic. The effects of antimony poisoning are similar to arsenic poisoning. Some of the smelters have been told they may re-open once they comply with environmental regulations.

In that context, you can understand China's decision. But the challenge now is to build viable antimony mines outside China. And that's a challenge that's being led by - of all people - the Chinese. Last year the Hunan Nonferrous Metals Corp - the biggest antimony producer in China - paid $29.5m in cash for the Canadian Beaver Brook Antimony Mine. This was North America's only producing mine.
It's hard to find pure antimony explorers

Several other countries look to have significant reserves, including Australia, Bolivia, Canada, Thailand and Turkey, among others. The problem for the investor is that it's hard to find pure antimony plays.

Mountain Lake Resources (TSX.V: MOA) - an explorer I like the look of - might be onto something at its Little River Gold property in Newfoundland. But the company is, in its own words, 'focused on gold exploration'. The same goes for Silverado Gold Mines (SLGLF.OB) which seems to have found something at its Noland Creek project.

Listed on Aim in the UK - and regular readers will know I'm not keen on Aim - is about the only pure antimony exploration play I can find, Tri-Star Resources (LSE: TSTR). But the horse has bolted. Since September it's risen from 0.35p to 1.16p. It's not hard to see why given the antimony story, but this stock now has a market cap above 50m.

To me that's excessive. Its main property, the Goynuk mine in Turkey, may well prove to be the real deal. But it is still, in the words of Tri-Star, 'poorly explored'. In other words, until now, it hasn't been properly drilled.

A 17-hole drilling campaign began in October but we still await results. I'm not saying it won't go higher. But it's hard to justify this valuation at this stage in the company's development. I don't own stock in this one.

Drill results due end of month , price brake out this week

Tri-Star Resources Plc

("Tri-Star" or the "Company")



Assay Results





The board of directors of Tri-Star (the "Board") is pleased to announce that the Company has now received all the assay results from the drilling programme completed in December 2010. Having considered the results, despite the area subject to survey representing only a very small part of the Company's licence area, and that additional drilling and evaluation are necessary, the Board is satisfied that the mine contains sufficient antimony (Sb) resources to make mining and processing operations commercially viable. As a result, the Board will immediately begin the process of driving Tri-Star towards commercial production.



The Board is particularly encouraged by indications from the 2010 drilling results that the high grade mineralisation may continue at high levels into areas as yet unexplored. In addition, it is pleased to note that the results indicate that there are layers of high grade mineralisation of 4% to 6% Sb, with areas above 20% antimony, which are significantly above the average mineralisation level.



Unlike many other minerals, the mining and processing of antimony is a relatively simple and low cost operation. Accordingly, the Company will focus initially on antimony, however, the Board does not rule out the exploitation of other minerals if found in commercial quantities.



The Board is in the process of finalising a placing to raise funds for a further detailed assessment of the antimony deposit within the immediate mine area, to extend the drilling programme into new areas of the Company's mining licence and to commence the planning, design and approval process for the construction of a processing plant.



The Company produced both saleable trioxide and antimony metal in 2008 in a third party contract with a smelter. Taking this and the assay results into consideration, the Board considers the project's metallurgical risks to be low.





Enquiries:





Tri-Star Resources Plc

Michael Hirschfield




Tel: +44 (0)844 8157 339

Strand Hanson Limited (Nomad)

James Harris / Paul Cocker


Tel: +44 (0)20 7409 3494





Keith, Bayley, Rogers & Co Limited (Broker)

Simon Frost / Brinsley Holman




Tel: +44 (0)20 3100 8300

Positive assay findings for Tri-Star
Article Date: Jan 31 2011

Positive assay results from antimony explorer Tri-Star Resources (TSTR) confirm that it has a commercially viable operation in Turkey. Having completed a drilling programme last month the AIM quoted concern has only explored an area that represents less than 1% of its prospecting license.

Even with this small sample set Tri-Star has confirmed that the high grade mineralisation it has already encountered may well spread to areas it has yet to explore. Layers of mineralisation have proved very high with some rock showing as much as 20% antimony. There is also the distinct possibility that Tri-Star may find gold and silver in its drilling area.

Volume demand for antimony is increasing at 7% per annum with the price recently surging to a high of $13,500 a tonne. The main market is in China with 91% of world supply however the country has recently taken steps to close down some of its mines to help contol supply.

Tri-Star plans to refine its knowledge in the area under investigation as well as further expanding its search area. To help further its drilling programme the AIM listed concern is finalising a placing that will probably secure in the region of $2m. This will be used to commence the planning, design and approval process - a larger sum to undertake a more comprehensive drilling programme is not necessary at this juncture.

The mining of antimony is a relatively straight forward open cast process so there may well be scope to sell the product through a third party smelter or perhaps even operate its own. Last recommended in Growth Company Investor in December at 1.1p the shares have edged ahead to 1.13p and remain a speculative buy.

This story is from Growth Company Investor, the independent voice on

1.5p next!!!

kerrrrrrrchinnnnnnnnnggggggggg

.

I posted the results I thought in a shorted version now i can't seem to edit out the full text.

Tri-Star extends target area

27/05/2011 Miles Nolan

Antimony focused miner Tri-Star Resources (TSTR) has unveiled a much wider reaching occurence of the rare earth than originally envisaged.

Tri-Star has been actively assessing rock samples across its mining site in the Goynuk region of Turkey, however this has hitherto largely focused on a carefully mapped area. Further investigation towards the bottom of the hill 1.2 km south, but within its license area, has revealed highly anomalous antimony and gold.

The significance of the announcement has been lost on some due to the wording that the assays 'were not economically viable', this is due to the rock sampled being at surface - so further drilling is required to further confirm the resource. A spokesperson describes the news as both 'very positive' and 'highly significant' as it adds sway to the belief that Tri-Star has a potential world class deposit, that could stretch further than first thought.

Tri-Star is undertaking an ongoing drilling programme, and recently raised 2.9 million by way of a placing at 1p a share to help fund this. The shares have recovered lost ground yesterday and currently trade at 0.93p. Samples are being sent to Canada to confirm antimony grades with news of the drilling expected by the end of the summer.

The antimony price has held up well at the current level of $16,250, some way ahead of the $4,500 it was trading at a year ago when Tri-Star was set up to exploit the resource. Significantly, the cost of extraction has changed little over the same time period so making the potential mining economics highly profitable. Though the shares are speculative, they could provide good upside from here.

Tags: AIM market, Antimony, Gold, Penny shares

Sector: Mining

Companies: Tri-Star Resources

delete

TRI-STAR RESOURCES PLC

("Tri-Star Resources" or the "Company")



Result of AGM



Tri-Star Resources (AIM: TSTR) announces that all resolutions put to shareholders at the Company's Annual General Meeting held yesterday, were duly passed.



The Company confirmed that, as announced on 26 April 2011, it expects to commence the extended drilling programme at the Company's mine site in the Goynuk area of Kahya, Turkey (the "Drilling Programme") by the end of this month. The Drilling Programme will comprise both in-fill drilling of known areas of mineralisation and further exploration of the Company's prospecting area that surrounds the mine. The Company anticipates that the results of the Drilling Programme will be known by the time the Company publishes its interim results (to 30 June 2011), due for release by 30 September 2011.



In addition, the Company has progressed its preliminary engineering of production facilities. The engineering programme comprises several phased increments of production, from small-scale early production of antimony sulphide concentrates to the building of a full-scale concentrator and roasting plant for the production of antimony oxides. The Company intends, subject to the availability of sufficient working capital, to implement such production phases at the point in time at which the directors of the Company (the "Board") considers it to be commercially viable and when necessary permitting processes are complete. The Board intend that the Company will be in a position to commence commercial production of antimony oxides by the end of 2012. Further updates will be made in due course.

TRI-STAR RESOURCES PLC
("Tri-Star" or the "Company")

Update re Proposed Joint Venture

Further to the announcement made by the Company on 28 June 2011, relating the non-binding letter of intent ("LOI") entered into with Portage Minerals Inc ("Portage") in respect of Portage's Bald Hill antimony project in New Brunswick, Canada, Tri-Star is pleased to announce that it has now satisfactorily completed its due diligence period.

Following completion of this due diligence, Tri-Star is currently in ongoing negotiations with Portage in relation to the LOI and an extension to the timing for completion of a binding joint venture agreement, previously scheduled to be completed by 31 August 2011, and further announcements will be made in due course.

Enquiries:

Tri-Star Resources Plc
Michael Hirschfield

Tel: +44 (0)844 8157 339
Strand Hanson Limited (Nomad)
James Harris / Paul Cocker / Liam Buswell
Tel: +44 (0)20 7409 3494

TRI-STAR RESOURCES PLC
("Tri-Star Resources" or the "Company")

Interim assay results for 2011 drilling programme

Tri-Star Resources (AIM: TSTR) is pleased to provide details of the first tranche of assay results provided by its drilling contractor, Spektrajeotek AS, in respect of its diamond drilling programme being undertaken at the Company's antimony Goynuk property in western Turkey.

Highlights

The drilling performed to date has returned confirmation that the antimony (Sb) mineralisation discovered at Goynuk in 2010 is persistent and extends to the South-East of the property.

The drilling programme is ongoing and further announcements will be made as more assay results are received and when results are fully analysed and independently verified.


Brian Spratley, Chief Executive Officer of Tri-Star Resources, commented:

"I am delighted to announce that the drilling programme at Goynuk is advancing and the initial assay results have shown positive results.

"These assay results are a good indication of the high grades associated with the mineralisation at Goynuk and we are pleased that the silicification and alteration hosting the mineralisation appears to be contiguous between most of the holes. We are all looking forward to extending the drilling programme and the areas of demonstrated mineralisation."


Drilling assay results

A programme of diamond drilling was commenced on 15th July 2011 by the Company's contractor to test for the continuation, or repetitions of, the known antimony (Sb) mineralisation discovered in boreholes GOY10001, GOY10002 and GOY10004 drilled in 2010 at the old Goynuk mine.

The 2011 drilling programme has been concentrated on the South-East extension area, which is a new mineralised zone lying sub horizontal and down dip of the old Goynuk mine workings. The drill programme commenced with diamond drill hole GOY11021, which was drilled to test basement sediments but which was not sampled.

A total of 27 holes have been drilled to date, of which the first 11 drilled in the South-East zone were sampled and are reflected in these results, with the [selected] assays shown in Table 1 below indicating the high grades encountered, notably at the following drill holes:

Hole 22 - 10.00 metres of 1.92% Sb with a high value of 7.07% Sb
Hole 24 - 5.30 metres of 8.02% Sb with a high value of 18.25% Sb
Hole 28 - 6.30 metres of 4.04% Sb with a high value of 13,.80% Sb
Hole 29 - 2.00 metres of 4.82% Sb with a high value of 7.58% Sb
Hole 32 - 2.00 metres of 2.29% Sb with a high value of 4.12% Sb

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