26 Feb 2014 12:45
26 February 2014
W Resources Plc
("W" or the "Company")
Resignation of Director
The Directors of W Resources Plc (AIM:WRES), a tungsten and gold exploration and development company with assets in Spain and Portugal wish to announce the resignation of Mr Michael Garland as a Director of the Company with immediate effect. Mr Garland is stepping down from the board to pursue other business interests.
The Board is currently in the process of identifying and recruiting a suitable replacement for Mr Garland and will make a further announcement in this regard in due course.
Michael Masterman, Chairman of W, commented: "I would like to thank Michael for his significant contribution to W over the past 10 years. His fantastic support and commitment to the company has helped steer us through the evolution of the business and he leaves us on strong footing with our Spanish and Portuguese tungsten and gold projects. We wish him continued success in his business ventures."
Enquiries:
W Resources Plc | Grant Thornton UK LLP |
Michael Masterman | Colin Aaronson / Melanie Frean / Jen 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 | Justine James |
T: +44 (0) 1483 413500 | T: +44 (0) 20 7193 7463 |
www.sicapital.co.uk | M: +44 (0) 7525 324431 |
About W
In 2012, W Resources Plc (AIM:WRES) made the successful transition into a tungsten exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain and 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 past three years and is in the 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