Source - RNS
RNS Number : 5082K
W Resources PLC
22 September 2016
 

 

 

 

 

 

 

 

 

22 September 2016

 

W Resources Plc

("W" or the "Company")

 

Production Commences at La Parrilla

 

W Resources Plc (AIM:WRES), the tungsten, copper and gold, production, exploration and development company with assets in Spain and Portugal, is pleased to announce that tungsten concentrate production has successfully commenced at the La Parrilla mine in Spain ahead of schedule.

Production of tungsten and, subsequently, tin concentrate is expected to ramp-up over the next 6 months to reach a run rate of 400 tonnes per annum ('tpa') in early Q2 2017. 

The new crusher with capacity of 1.95 ROM will be installed early in 2017, significantly reducing unit operating costs and increasing capacity.

Plant engineering and procurement to expand the plant to 2,500 tpa (1.95 mtpa ROM) by mid-2017 is advanced and equipment finance is now planned for both the crusher and the jig and mill procurement packages. Discussions in respect of financing are advancing well, in line with tight specification of vendor supply packages.

Michael Masterman, Chairman of W Resources commented: "It is a great milestone to see a smooth plant start-up and first tungsten concentrate production. While there could be many ramp-up challenges over the coming months, we have a skilled and committed team in place to increase production and lay the groundwork for a substantial increase in production in 2017".

Michael Masterman will be presenting at the MiningMaven Gold & Tungsten focused Investor Evening on Thursday 22 September 2016. The presentation will be held at The Cote Brasserie, 26 Ludgate Hill, St Pauls, London, EC4 from 6.00pm to 9.00pm.  

If you would like to attend, please register with MiningMaven: https://www.eventbrite.co.uk/e/opportunities-in-tungsten-gold-thor-mining-w-resources-metal-tiger-registration-26698979366.

Enquiries:

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.co.uk

Grant Thornton UK LLP

Colin Aaronson / Jen Clarke / Harrison Clarke

T: +44 (0) 20 7383 5100

SI Capital

Andy Thacker / Nick Emerson

T: +44 (0) 1483 413500

www.sicapital.co.uk

Gable Communications

Justine James

T: +44 (0) 20 7193 7463

M: +44 (0) 7525 324431

The information contained within this RNS is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

About La Parrilla

The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of Caceres-Badajoz, approximately 310 km southwest of Madrid. The site has exceptional infrastructure in place, which is accessed directly from the highway along a 3 km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The mineral resource estimated by Golder in February 2016 at 0.04% WO3 cut-off grade is 51 million tonnes at 0.096% WO3 and 0.108 Sn, making it one of the largest tungsten deposits in the western world.

Technical information in this report and on the W website has been approved for inclusion by Mr Fernando de la Fuente, is a 'qualified person' in respect of the AIM Rules for Companies with over 41 years' experience in the Exploration and Mining Geology industry. Mr de la Fuente holds a B.Sc. in Geology and an MSc in Geology from the University of Granada in Spain. He is also a member of the Spanish College of Geologists (Number 49), the Spanish Society of Mineralogy, founder member of the Spanish Society of Geology, member of the Spanish Association of Applied Geology to Mineral Deposits, member of the Society for Mining, Metallurgy and Exploration, Inc., member of PDAC.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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