15 Sep 2021 07:00
15 September 2021
W Resources Plc
("W" or the "Company")
La Parrilla Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, is pleased to announce an update on production at the La Parrilla tungsten and tin mine in Spain.
August 2021 Overview
· Concentrate production totalled 75.6 tonnes ("t"), an increase of 11% over July 2021
- Tungsten concentrate totalled 67.7t, an increase of 16% over July production
- Tin concentrate of 7.9t is 19% less than July due to reprocessing issues impacting recovery. Measures are in place to continue to resolve this
· Highest monthly tungsten recovery to date at 65% and monthly plant utilisation rate constant at 91%
· Three shipments of tungsten concentrate completed during the month
· Transitioned to a 24 hour, 7 day working week on 7 September
Michael Masterman, Chairman of W Resources, commented: "Production at La Parrilla continues to increase and following the move to a 24 hour, 7 day working week in September we expect an increase in production going forward. Accessing our higher-grade ore has contributed towards the increasing tungsten recovery rates.
"Our current priority is to build production and improve tin recoveries and we remain positive about reaching our production target of 1,000t of concentrate in 2021 and increasing the production run-rate in Q4 2021 towards our T2 Target of 675t per quarter."
The Company looks forward to issuing its full Q3 2021 Production update in October 2021.
Information communicated 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 |