16 Jun 2021 07:00
16 June 2021
W Resources Plc
("W" or the "Company")
La Parrilla: Completion of the 500,000m3 dam
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in Spain and Portugal, is pleased to announce it has successfully completed the construction of a new water dam at the La Parrilla mine in Spain in order to resolve the issue of the high water levels. Dewatering of the mine pit is now underway and once water levels are reduced the team will be in a position to safely regain access to high-grade ore areas.
The 500,000m3 dam is receiving water from the mine pit at a rate of 2,500m3 per hour, which will enable access to the next level of fresh ore in the next few days. Construction of this dam has been hugely successful with staff and contractors working tirelessly to complete this stage of the project.
The final phase of the project to provide a permanent solution to the water issues at La Parrilla, comprising of a second dam, is currently at the design stage and is expected to be completed in Q4 2021.
Michael Masterman, Chairman of W Resources, commented: "After an arduous process we are delighted to have completed construction of the 500,000m3 dam at La Parrilla enabling us to proceed with the full scale dewatering of the mine pit. This is a major milestone and importantly will lift the constraint to our mining operations enabling us to accelerate the process of regaining access to and recovery of the higher-grade ore."
"I would like to personally thank our Engineering Manager, Elías Perez who along with the whole team at La Parrilla, executed this important project on behalf of the Company in such an enthusiastic and professional manner."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
W Resources Plc Paul Hailes, CFO investor@wresources.com www.wresources.com | Grant Thornton UK LLP Colin Aaronson / Harrison Clarke / Lukas Girzadas T: +44 (0) 20 7383 5100 |
Joint Broker Turner Pope Investments (TPI) Ltd Andy Thacker / James Pope T: +44 (0) 203 657 0050 www.turnerpope.com | Joint Broker Alternative Resource Capital / Shard Capital Alex Wood T:+44 (0) 20 7186 9004 www.altrescap.com Damon Heath T:+44 (0) 20 7186 9952 www.shardcapital.com |
Alma PR Justine James T: +44 (0) 20 3405 0205 M: +44 (0) 7525 324431 wres@almapr.co.uk |