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W Resources inks crushing and haulage contract for Régua, updates on progress at La Parrilla and São Martinho

The mining firm said the “low cost” deal would see ore from the project hauled 27 kilometres to an existing FPMI crusher and crushed to a range of 5-10mm

W Resources said it would also pay €50,000 to expand access roads at the project

W Resources PLC (LON:WRES) has signed a contract for haulage and crushing services at its Régua tungsten mine in Northern Portugal.

The mining firm said the “low cost” deal with Francisco Pereira Marinho Imaos (FPMI) would see ore from the project hauled 27 kilometres to an existing FPMI crusher and crushed to a range of 5-10mm.

WATCH: W Resources firmly focused on La Parrilla ramp up to design capacity

FPMI would also use waste ore for the rehabilitation of their existing quarry, providing local environmental benefits.

The estimated crushing and haulage costs were US$40-45 per 10kg, while W said it would also pay €50,000 to expand access roads at the project for haulage.

Michael Masterman, the company’s chairman, said the contract would allow the firm to advance the Régua project to development with “efficient capital deployment”.

Updates on La Parrilla and São Martinho

In a separate announcement, the group also issued updates on its flagship La Parrilla tungsten project in Spain and its São Martinho gold mine in Portugal.

For La Parrilla, W said it was continuing to advance commissioning of a jig and mill plant, which was reaching design throughput.

The plant has produced over 3,500 tonnes of pre-concentrate so far, the company said, which has been progressively processed through the existing concentrator plant.

Production of concentrate restarted in June and is expected to rise significantly to 20 tonnes of concentrate in July as a result of a move to 24 hour production and a materially higher grade ore supply.

The firm added that the construction of a large scale concentrator plant remained on track to be completed by the end of June for commissioning in July.

"With a very firm focus on ramp-up at La Parrilla, H2 is looking very exciting as we finalise the last few areas of the plant in order to transition to the full ramp-up of this world class tungsten project”, Masterman said.

Meanwhile, at São Martinho, the company said a trial mining application submitted in September last year was progressing through the regulatory process, while a review by mining consultant SRK to finalise an increased resource estimate was due to finish in July.

In early trading on Wednesday, W Resources shares were down 4.6% at 0.4p.

Quick facts: W Resources PLC

Price: 0.21 GBX

Market: AIM
Market Cap: £14.07 m

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