19 Nov 2014 07:00
19 November 2014
W Resources Plc
("W" or the "Company")
La Parrilla Tailings Plant Improvement Update
W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, announces an update on the La Parrilla tailings plant operations in southwest Spain:
· New feed systems have been installed during November with the objective of increasing production rates
· Electricity pylon erected, awaiting connection from the local electricity provider to grid power
· Targeting first tin production for H1 2015
Over the last two weeks new feed systems and modifications have been installed at the concentration tailings plant in order to further improve production capacity and recoveries, and commissioning is now underway.
In addition, planning to produce a tin concentrate is progressing well. Two representative samples of tungsten concentrate have been sent to independent suppliers of electrostatic separators to test for the separation of the cassiterite (tin). This will enable W to make a decision on the optimal electrostatic separator to acquire.
On-site civil works are now complete with an electricity pylon assembled and W is awaiting the Spanish electricity supply company (Iberdrola) to connect the pylon to the national power grid. As previously announced in September, the connection was signed-off by Iberdrola and the Company is in constant contact with them in order to expedite the connection to the lower cost grid power as soon as possible.
Michael Masterman, Chairman of W Resources commented: "The new concentration plant feed systems are expected to significantly improve the performance of the La Parrilla Tailings plant, with tin production anticipated in the new year expected to further improve plant economics. We are pleased to have completed site operational work for power grid connection and we continue to push Iberdrola for final connection, which will drive further cost efficiencies once up and running."
Enquiries:
W Resources Plc | Grant Thornton UK LLP |
Michael Masterman | Colin Aaronson / Jen Clarke / Harrison Clarke |
T: +44 (0) 20 7193 7463 | T: +44 (0) 20 7383 5100 |
www.wresources.co.uk | |
SI Capital | Gable Communications |
Andy Thacker / Nick Emerson | John Bick |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.sicapital.co.uk | M: +44 (0) 7872 061007 |
About W
In 2012, W Resources Plc (AIM: WRES) made the successful transition into a tungsten production, exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain, the Régua and Tarouca Tungsten projects and the Portalegre gold project in Portugal.
The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity due to a strong market following for tungsten, increased trading and a forecast shortage of supply. The price of tungsten has more than doubled in the past three years and is in the EU top 5 critical metals list.
The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.
The Company was incorporated in England and Wales in 2004.