19 Oct 2016 07:00
19 October 2016
W Resources Plc
("W" or the "Company")
La Parrilla Commences Tungsten Shipments
W Resources Plc (AIM:WRES), the tungsten, copper and gold, production, exploration and development company with assets in Spain and Portugal, is pleased to confirm the first shipment of tungsten concentrate since plant start-up at La Parrilla, Spain in September 2016 which is also W's first shipment to the United States of America.
As announced on 17 October 2016, tin separation from tungsten concentrate has now commenced at the plant enabling the production and sale of both tungsten and tin in the coming months. With tin prices having increased to around US$20,000/t, this represents an important development for the Company.
Michael Masterman, Chairman of W Resources commented: "We are very pleased to confirm the first shipment of tungsten concentrate from La Parrilla to our new customers in the United States. It is an important milestone for W Resources."
Enquiries:
W Resources Plc Michael Masterman T: +44 (0) 20 7193 7463 www.wresources.co.uk | Grant Thornton UK LLP Colin Aaronson / Samantha Harrison / 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.