According to report by [i]Crystal Research Associates[/i] on [b]Trio Resources[/b] - 5/20/13:
Trio Resources, Inc. (“Trio” or “the Company”) is a Canadian exploration-stage and small-scale processing company focused on developing the current mineral potential of historically rich mining regions. The Company owns 100% of the 94-acre Duncan Kerr property located near the town of Cobalt, Ontario.
Exploration to date has identified several areas of interest on the property, where geology is believed to be favorable for silver mineralization.
Trio supports its development efforts through revenue generated by processing stockpiles of mineralized ore in the Company’s onsite mill—a capability that is atypical for a junior exploration company.
The Duncan Kerr property hosts 1.3 million tons of above ground mineralized inventory (concentrate, crushed ore, muck piles, etc.), which Trio has begun processing for its residual mineral content.
The Company has a five-year off-take agreement with United Commodity AG (3UI1-Frankfurt)—calculated to have a minimum value of $30 million—to recover the mineralization present in Trio’s stockpiles.
The Duncan Kerr property is located in a region that is well known for its base and precious metal production. Past-producing mines at Duncan Kerr have mined in excess of 32 million ounces of silver, and one of North America's richest silver veins ever explored was located on the property.
The Company’s plans for 2013 include 5,000 meters of diamond drilling and other exploration at the Duncan Kerr project as well as upgrading its existing mill capacity to be able to process up to 360 tons per day.
Trio seeks to release an NI 43-101 resource valuation for its stockpiles by August 2013.
Trio has full rights and claims to the Duncan Kerr property, including the existing mineralized material, onsite mill, other structures and equipment, and all surface and mineral rights.
Trio’s management has expertise in business development for both public and private companies. Chief Executive Officer (CEO) J. Duncan Reid has over 30 years of senior leadership experience, with more than a decade in the mining industry.
In the quarter ended March 31, 2013, Trio generated revenues of $166,299 - Trio's first since its inception in 2012.
In April 2013, the Company announced that it expected revenue of $236,000 for the first shipment of its mineralized inventory to United Commodity, which occurred in February 2013. Semi-monthly shipments are commending in the second quarter 2013, which are anticipated to generate up to $500,000 per month for Trio.
Trio also presently seeks to raise $2.5 million to fund growth.
EXECUTIVE INFORMATIONAL OVERVIEW
® May 20, 2013
Trio Resources, Inc.