Member Info for BigEvi

15 March 2021

W Resources Plc
("W" or the "Company")

Director Dealing

W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, was notified by the Company's Chairman, Mr Michael Masterman on 12 March 2021 that on 9 March 2021, Symmall Pty Ltd, of which Mr Michael Masterman (a Director of the Company) is both a beneficiary and trustee, purchased on market 150,000,000 ordinary shares of 0.1p each ("Ordinary Shares") as follows:
· 95,000,000 Ordinary Shares at a price of GBP 0.0009095 per Ordinary Share
· 18,000,000 Ordinary Shares at a price of GBP 0.0009350 per Ordinary Share
· 37,000,000 Ordinary Shares at a price of GBP 0.0008520 per Ordinary Share

Following this transaction, Mr Michael Masterman's interest in the Company (including those of related parties) increases to 1,330,919,370 Ordinary Shares representing 17.26% of the Company's total voting rights.

The ironic part is the ill informed American investors could do very well out of 88E if we hit commercial oil - now that would be a turn up for the books :)

82/83 +64% wonder if the rumour of corporate activity on the Hot Copper board has any legs :)

+28% - nice move:)

Positive interview by MM :)
most importantly......the plant problems,are on the mend

https://www.proactiveinvestors.co.uk/companies/news/942820/w-resources-chairman-reports-improved-efficiency-and-increased-production-at-la-parrilla-942820.html

Link to Q & A session :)
https://bmo.qumucloud.com/view/2021-gmm-newcrestmining#/

Work Programme agreed for the Juri Joint Venture with Newcrest Mining

Initial drilling to focus on high priority targets Los Diablos, Goliath, Outamind and Parlay

Multiple compelling additional targets identified across the Paterson Range East and Black Hills licenses

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, announces the initial 2021 work programme for the Juri Joint Venture ("Juri JV"), including drilling of several targets within the Paterson Range East and Black Hills licences.

Multiple additional targets within the Juri JV have been identified following analysis of results of a heliborne Airborne Electromagnetic ("AEM") survey conducted last year and further geological interpretation of regional aeromagnetics. Exploration work at the Juri JV is focussed on the discovery of intrusion related gold-copper deposits similar to Havieron, Telfer and Winu.

2021 Juri JV Work Programme
First round of drilling of high priority targets across the Paterson Range East and Black Hills licences, including Los Diablos, Goliath, Outamind and Parlay, expected to commence by early April.
Ground electromagnetics ("EM") surveys to be conducted over several new targets identified following interpretation of AEM data to better locate and prioritise targets.
Camps and infrastructure are being established with field activities scheduled to commence in the coming weeks.

Additional targets identified
Analysis of results from a Heliborne AEM geophysical survey conducted last year has identified multiple new conductors within the Juri JV including:
A11 - a moderate amplitude anomaly located along or adjacent to the major province scale Anketell-Samphire Fault.
A25 ("Tama" Prospect) - a strong, apparently flat lying conductor, interpreted to represent a supergene horizon developed in or over an intermediate to mafic pipe intruding granite.

Shaun Day, Chief Executive Officer of Greatland Gold plc, commented: "It is with great excitement that we announce plans to begin exploration under our second joint venture with Newcrest in the Paterson region. Drilling will commence in the coming weeks at our Paterson Range East and Black Hills licences, testing the high-priority targets Parlay, Goliath, Outamind and Los Diablos. The joint venture will also look to progress several additional compelling targets that have emerged following analysis of geophysical data. We entered the Juri JV to accelerate our exploration activity and maximise value of the Paterson Range East and Black Hills licences and this initial 2021 work programme is an important step towards achieving that goal.

"The Juri JV campaign forms part of our multi-pronged exploration strategy for 2021 in the highly prospective Paterson region. As Juri JV drilling gets underway, this will complement the ongoing work at Havieron with 65,000m of growth drilling planned in the next six months together with our exploration activities

From 11/1/21 RNS
Michael Masterman, Chairman of W Resources, commented: "These funds will be used to advance the Régua development and provide additional working capital for the Company. It is Important that the Company is able to proceed with mining activities at Régua once Covid-19 restrictions are eased and take the opportunity to produce an 8-12% WO3 concentrate which will then be trucked to the La Parrilla processing plant for upgrade to 60% WO3 concentrate and purification."

Looks like we could be in for some good news with Regua up and running :)

ASX release

Operations Update
88 Energy Limited ("88 Energy" or the “Company", ASX:88E, AIM 88E) provides the following update related to its operations on the North Slope of Alaska.
• Rig commissioning complete - mobilisation commenced for Merlin-1 drilling
• Drilling scheduled to commence 1st week of March 2021
• Nearby Talitha-A well early results encouraging – potential for extension into 88E leases
88 Energy is pleased to confirm that mobilisation of Rig-111 to the Merlin-1 drilling location has commenced. Spud is now scheduled for the 1st week of March 2021 with drilling expected to take ~3-4 weeks, including logging. Dependent on the results from the logging, the well will then be flow tested.
Rig 111 prior to tear down for mobilisation
Managing Director, Dave Wall, commented: “Commencement of drilling at Merlin-1 is now just around the corner, targeting the extension of the highly successful Nanushuk play.
Success would underpin a company making development project for our shareholders, with the proven resource at the recently acquired at Umiat Oil Field adding substantial value.”

It stated in the December RNS:-
“ During the quarter, the plant continued to work a four day week, moving to a five day working week in early January 2021, with a target to move to a seven day working week with effect from April 2021”
So we are working 5 days a week from EARLY JANUARY - good news

Good news - production, Tungsten and Tin prices going up and income rising. Demand for our product is strong and we are through the worst of it.
Atlas facility still has 3m available to draw down ( if needed) and the future is bright.

Directorate Change

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces that Non-Executive Director, Oscar Marin Garcia will step down from the Board on 12 February 2021 to focus on increased commitments in his business.

The search for a new Non-Executive Director is underway and will be announced following the completion of relevant regulatory approvals.

Mr Michael Masterman, Chairman of W, commented: "Oscar has been an outstanding Non-executive Director contributing to the growth of strategic relations with key stakeholders in Spain and in particular the Extremadura region. Oscar will be missed on the Board and I wish him all the best in his future endeavours."

Oscar Marin Garcia, commented: "Whilst my current commitments mean I am unable to remain on the Board of Directors, I remain a strong advocate of W Resources and its operations in Spain and I intend to retain my beneficial shareholding in the Company."

China’s February tungsten offers, bids rise

Published date: 09 February 2021

China's Ganzhou tungsten association (GTA) has raised its February reference prices for tungsten concentrate, ammonium paratungstate (APT) and tungsten carbide, in response to higher spot prices and tighter feedstock availability.

GTA's February reference price for 55pc concentrate has risen to 90,000 yuan/t ($254/mtu) from Yn85,800/t in January. The guide price for 88.5pc APT moved up to Yn137,000/t from Yn131,200/t. The association's reference price for tungsten carbide increased by Yn5/kg from January to Yn215/kg for February, following a rise of Yn10/kg in January.

China's major tungsten producer Jiangxi Tungsten on 5 February raised its February offer price to Yn93,000/t for 65pc grade wolframite, up from Yn88,000/t in January.

Primary tungsten material consumer Xiamen Tungsten on 1 February lifted its first-half February bid price for 88.5pc APT to Yn134,500/t from Yn132,500/t in the second half of January.

Fellow consumer Zhangyuan Tungsten on 6 February hiked its first-half February APT bid price to Yn137,000/t from Yn133,000/t in the second half of January. Zhangyuan's first-half February bid price for 55pc grade concentrate was Yn90,000/t, up from Yn87,000/t in the second half of January.

The higher bid and offer prices for February delivery have shored up confidence in the spot market, prompting suppliers to lift their offer prices despite limited spot deals this week owing to the approaching lunar new year holiday.

Spot prices for APT were assessed higher at Yn137,000-140,000/t today compared with Yn137,000-139,000/t on 4 February, with many producers lifting offers towards Yn140,000/t. Prices for 65pc grade wolframite edged up to Yn91,000-93,000/t today from Yn89,000-91,000/t on 4 February, in line with the higher offers and bid prices. Tight ore supplies and output shutdowns in February have lent support to sentiment.

Greatland Gold plc (AIM:GGP), the precious and base metals exploration and development company, is pleased to announce the appointment of Shaun Day as Chief Executive Officer of the Company. Shaun Day will succeed Gervaise Heddle, who is leaving the Company to pursue other interests. Shaun Day will take up the position of CEO and join the Board on 8 February 2021. Gervaise Heddle will remain on the Board and part of the Executive team until 12 March 2021 to ensure a smooth transition.

Commodity pricing

European ammonium paratungstate ("APT") pricing remains strong at US$235-US$240 / mtu with industry comment from Fastmarkets MB that: "There's very little material available in Europe in 2021 and shipments from China are delayed. That is continuing to push APT offers up."

The Tin price continues to strengthen reaching a 12 month high of over US$21,500 per tonne in January 2021, from a low of US$13,375 in March 2020 (source: LME).

RNS Number : 8338L
W Resources PLC
15 January 2021






15 January 2021

W Resources Plc
("W" or the "Company")

Extremadura Grant Update and Loan Facility Extension

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal provides the following update on the Junta de Extremadura Government Grant and the Banco Santander, S.A ("Santander") loan facility extension.

Following a number of meetings towards the end of December 2020 between the Company's senior management and representatives of the Extremadura Government, the Company has been assured that the approved €5.3m grant (the "Grant") is being processed for payment to the Company, although actual payment is not expected to be made until later in H1 2021. The Company would like to reiterate that it has satisfied all conditions precedent for receipt of the Grant.

The Company has also finalised a six month extension to the €5m loan facility with the Spanish bank, Santander. As the initial term of the loan was the earlier of 18 February 2021 or the receipt of the proceeds of the Grant funds, the Company thought it prudent to seek this extension.

This facility allowed W to monetise the majority of the €5.3m Grant from the Junta de Extremadura Government which the Company had expected to receive in 2020. The facility interest rate is 3.5% per annum, payable quarterly, with no amortisation and is secured by a pledge over the rights to the Grant funds.

Michael Masterman, Chairman of W Resources commented: "We are pleased to have extended this facility with Santander which was initially taken out in February 2020 and look forward to receiving the Grant funds from the Junta de Extremadura Government."

Does anyone know how many cores were sent to the lab?
Does anyone know how deep they went?
We are waiting for the results on ALL the cores - hence the delay
Sit back enjoy a glass of champagne ( other alcoholic beverages available) reflect that it’s half full and like Christmas the results will soon be hear :)

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces an update on the La Parrilla tungsten and tin project in Spain.

Momentum in Q4 has continued into December and the Company can report:

· Record Concentrator Recovery Rates in December of 58.7% WO3, increasing from 40% in November

· 20t shipment of tungsten concentrate completed in December

· 25t shipment of tin concentrate awaiting collection by the customer

In addition the Company expects to make at least one more 20t shipment of tungsten concentrate this month.

Mining has continued on a four-day working week (24h per day over three shifts per day) at La Parrilla and will continue throughout the majority of the festive period and up to and including Thursday 31 December. Overall, no production time will be lost as shifts from the 24 and 25 December will be completed on other days.

The team at La Parrilla is now looking to transition to a five-day working week in early 2021.

The Company will announce its Q4 production update in January 2021.

Michael McNeilly, Chief Executive Officer of Metal Tiger, commented:

“We are very pleased that the Parties have entered into the SPA, as the Board believes that completion of the Transaction will facilitate the acceleration of KML’s planned exploration programme in one of the most exciting copper jurisdictions in the world, whilst providing an additional funding partner alongside Metal Tiger. Furthermore, by diversifying our interest in KML via Cobre, we believe we have an additional avenue for liquidity on exploration success in the future.

“We look forward to further operational progress from KML in the near future, as our interests in the Kalahari Copper Belt continue to develop.”

Shaun Day is a Chartered Accountant with over 20 years of experience in executive and financial positions across mining and infrastructure, investment banking and international accounting firms. He spent five years (2014-2019) as CFO of Northern Star Resources Limited ("Northern Star"), an ASX100 company and a global-scale Australian gold producer, where he oversaw the company's market capitalisation expansion from AU$700m to AU$8bn. As CFO of Northern Star, Shaun was part of the executive team that led the acquisition and funding of the Pogo Gold Mine, and the divestment of the Plutonic gold mine. Prior to Northern Star, Shaun spent five years as CFO of top 50 SGX listed Sakari Resources Limited ("Sakari"), one of Indonesia's leading thermal coal exporters. He leaves his position as CFO at AIM and ASX listed Salt Lake Potash Ltd to join Greatland.

Shaun also has considerable capital markets experience with a track record of leading successful transactions including M&A of publicly listed companies, farm-in agreements and raising capital. As CFO of Sakari and prior to this at Straits Resources Limited, Shaun led numerous transactions including acquisitions and divestments, financing activities and commercial farm-in agreements. Notably, he led the IPO of Sakari on the Singaporean Stock Exchange for US$325m, ultimately achieving a sale price of US$2.0bn when the company was taken over by the Thailand state owned enterprise PTT.