(Alliance News) - W Resources PLC on Monday said measures taken in Spain against Covid-19 should not have any major impact on operations.
Spain has declared a national emergency over the virus. All sports and recreational sites such as bars and restaurants have been shut, while the movement of people has been restricted.
These measures will last at least 15 days.
W Resources owns the La Parrilla tungsten mine in Extremadura, Spain. W Resources said this province is less-badly affected than others in Spain due to its low population density.
Portugal, where it owns the Regua tungsten mine, has also declared a state of emergency. Work will be carried out remotely where possible, W Resources noted, and it is requesting the extension of the trial mining licence by 12 to 18 months, which it believes will be accepted.
"It is a very challenging time for Spain and Portugal and the markets in general. Our priority is the safety and health of our personnel and we have worked hard at both our operational sites in La Parrilla and Regua to implement strong and stringent procedures," said Chair Michael Masterman.
"Ramp-up operations continue at La Parrilla and mining operations at Regua in compliance with the new state of emergency in both Spain and Portugal. We continue a proactive review of steps to protect our team and in a safe and sensible way to continue operations."
Shares closed 29% lower on Monday in London at a price of 0.15 pence each.
By George Collard; georgecollard@alliancenews.com
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