Tri-Star Holdings, Inc. announced this morning that it has signed purchase agreements for metals recovery and processing equipment for its COS #1, #2, and Wickenburg mines in Arizona. This equipment, valued more than $200,000.00 new, was purchased in good used condition after extensive research to save substantial amounts of cash.
As terms of the agreement, the equipment was purchased with a combination of restricted stock and cash. The company will work alongside Azrock Mining to establish plant locations for the installation of the processing equipment once geological and operational assessments are completed on the COS #1 and #2 mines, as well as on the recently acquired Wickenburg mine. Tri-Star’s management team anticipates announcing several updates as the installations progress.
Tri-Star President Anthony Mellone stated, “We are thoroughly satisfied with our negotiation of this equipment acquisition. Upon receipt of our assessments, together with the input of both our Chief Geologist Mr. Spooner and Azrock Mining we anticipate a speedy transition to production. We firmly believe that production revenues generated by our metals recovery division will assist in our efforts to enhance shareholder value.”
“Furthermore, we are in the process of compiling disclosure information with regards to the company’s operations across the board which we will disseminate via pinksheets.com. We believe that increased transparency is essential to market analysis and the valuation of our price per share which we believe is currently undervalued. Further details will be announced and also will accompany the dividend distribution to shareholders,” concluded Mellone.
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