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W Resources continues to advance La Parilla on-budget

"La Parrilla is funded and near project completion,” said Michael Masterman.

mine infrastructure
Operations are ramping up

W Resources PLC (LON:WRES) has highlighted the progress at the La Parrilla mine which is moving towards large scale production levels.

The company, in its results statement for 2018, noted several key milestones for what was a busy and eventful year at La Parilla.

READ: W Resources starts commissioning jig and mill plant

In December, the company delivered its first tungsten shipment from the mine.

Importantly during the year the company sealed offtake agreements to sell its product, for around 80% of the planned production tonnage in the project’s second phase.

"La Parrilla is funded and near project completion,” said Michael Masterman, W Resources chief executive.

“The project is on budget with tungsten and tin production and sales. The project is set to move to large scale production levels at low cost in the third quarter following construction completion of the new concentrator plant this quarter.

“This will allow W Resources to deliver a progressive increase in production in the third and fourth quarters of 2019.”

W Resources reported a £4.05mln loss for the year, and, ended December with £6.08mln.

Quick facts: W Resources PLC

Price: 0.157 GBX

Market: AIM
Market Cap: £10.52 m

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