121 Mining6 Nov 2019 08:49
To be held on 20-21 November.
https://www.weare121.com/121mininginvestment-london/client/w-resources/
W Resources strategy is to build a European mining company focussed on delivering long term production of tungsten, a key strategic metal with strong market fundamentals.
With a focus on building a world class tungsten company, its flagship project, La Parrilla in Spain is one of the world’s largest tungsten mines, which was funded by BlackRock, and came on stream in October 2019.
Market conditions have been volatile, but the clearance of a stock overhand and emerging shortages of primary metal production are likely to underpin a strong recovery in 2020 as La Parrilla moves to full production and the new Régua tungsten project in Portugal comes on stream.
What is your rationale for attending 121 Mining Investment?
W Resources is building its tungsten production at La Parrilla in Spain, with the Régua tungsten project in Portugal following it into production in H1 2020. The rationale for attending is to increase our exposure to institutional investors as the Company is set to deliver significant EBITDA and value growth.
What recent news would you like to highlight to investors attending?
29 August – Completion of Concentrator Plant at La Parrilla and commencement of final stage of commissioning
9 September – Completion of Plant Construction at La Parrilla, which was delivered within budget. The project is now on target to mine 2mtpa of ROM and produce approximately 2,500t of tungsten concentrate and 200t of tin concentrate per annum
What are your key goals for the next 3, 6 and 12 months?
3 Months: Continued expansion of La Parrilla production
6 Months: Reach design capacity at La Parrilla and commence production at Régua in Portugal
12 Months: With 200t of concentrate from La Parrilla plus the increased production from Régua, our attention will turn to our other projects in Portugal.
What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?
Commodity price is a risk for all mining company’s and as one of the lowest cost producers, W Resources can protect its downside due to its low cost production costs. Expert market commentators see the tungsten price increasing in 2020 due to expected supply shortages.
In a sentence, what do you think makes your company such a compelling investment?
With La Parrilla in Spain on production, this along will deliver EBITA of US$20m per annum once the initial ramp up to 2mtpa ROM with 2,500tpa tungsten. This is prior to the growth anticipated from Régua in Portugal in 2020 and the next phase of ramp up at La Parrilla in Spain.
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