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8 Nov 2019 07:03
8 November 2019
W Resources Plc
("W" or the "Company")
La Parrilla First Concentrate and Financing Update
W Resources Plc (AIM: WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, is pleased to provide an update on progress and funding at the La Parrilla mine in Spain.
Commissioning and ramp-up activities at La Parrilla continue to advance with all components of the Concentrator Plant from the spirals through to the shaking tables, to the flotation, magnetic and electrostatic separator plant (FME Plant) now commissioned. Over 5 tonnes of tungsten concentrate has been produced which will be purified and tin separated next week. Tungsten concentrate production for the T2 phase at La Parrilla will be underway during November. In addition, the Company has 2.5 tonnes of tin concentrate which will be built up to a 10 tonnes stock prior to shipment.
The Company is in advanced stages of finalising finance facilities and additional equity investment from local Spanish investors and as a result, the Board considers that the Company is still in a closed period. It remains the intention of Michael Masterman, W's Chairman, as originally announced on 16 September 2019, to invest at 0.5p per share following the end of the closed period.
The Company will notify the market in due course of further production and financing updates.
Enquiries:
W Resources Plc Michael Masterman T: +44 (0) 20 7193 7463 www.wresources.com
| Grant Thornton UK LLP Colin Aaronson / Seamus Fricker T: +44 (0) 20 7383 5100
|
Joint Broker Turner Pope Investments (TPI) Ltd Andy Thacker / Zoe Alexander T: +44 (0) 203 657 0050 www.turnerpope.com
Alma PR Justine James M: +44 (0) 7525 324431 wres@almapr.co.uk | Joint Broker Alternative Resource Capital / Shard Capital Alex Wood T:+44 (0) 207 186 9004 www.altrescap.com Damon Heath T:+44 (0) 207 186 9952 www.shardcapital.com |
WRES.L (WRES)
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