What does W Resources do?
Masterman has been involved with several resources companies over the years and has plenty of experience in bringing projects all the way from early stage exploration towards and into the production stage. W Resources is focussed primarily on tungsten, tin and gold.
What does W Resources own?
The company owns several exploration and development assets in Spain and Portugal, most notably the La Parrilla project, which runs on a 24-hour schedule.
The first shipment was sold in January, while the company expects production to build substantially in Q1 2020 with a full three months of production and higher than expected tin production and revenue.
Meanwhile, at Régua in Portugal development work continues to progress well with plans to come on stream in 2020.
How it is doing
Tungsten trioxide production in the first quarter of 2020 amounted to 3,306 metric tonnes. Tin production was 12.1 dry metric tonnes.
These volumes are expected to ramp up further in 2020.
A short shut-down was put in place during the coronavirus crisis, but operations have now been re-opened.
What the boss says: Michael Masterman, chairman
"Production at La Parrilla is building, albeit not at the pace we had anticipated due to early stage plant challenges having an impact on production levels for Q1 2020, as a result of a combination of unplanned downtime with mechanical issues with the jig and the crusher plants, which have now been resolved, and planned shut downs to implement important production improvement initiatives."
- Start-up at the Régua project
- Production building up at La Parrilla, reaching target of 2mln tonnes per annum