W Resources has announced its maiden ore reserves for the La Parrilla mine in Spain:
- Mineral reserves of 29.7 million tonnes (mt) at 931 parts per million (ppm) tungsten trioxide (WO3) and 116 ppm tin (Sn)
- Average cash operating cost of La Parrilla in the first 6 years of operation is estimated at $90 / metric tonne unit (mtu)
- Delivery of higher grades increases projected revenues and cash flows in the early years of production
- Life of Mine (LOM) is 11 years, based on these reserves and the progressive expansion of La Parrilla to 2 million tonnes per annum (mtpa) in 2018 increasing to 3.5 mtpa in 2020.
At 9:24am: (LON:WRES) W Resources PLC share price was -0.01p at 0.27p