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W Resources chairman hoping to lock in JV partner at La Parilla

The chairman of W Resources (LON:WRES), Michael Masterman, says the company is looking to strike a deal with a joint venture partner after completing a six-month mine development study at its La Parrilla site in Spain.

WRES estimates up-front costs for the first ‘fast-track’ stage of US$16mln with a further US$36mln needed for the full mine, which is set to produce 5,000 tonnes of per annum of tungsten concentrate by 2018.

Speaking to Proactive, Masterman said the recent definition study had confirmed La Parrilla was a highly competitive and a low capital intensity mine.

“The project's competitiveness is underpinned by low open pit mining costs and coarse Sheelite grain sizes which permits the high mass rejection of waste host rock during the crushing and pre-concentration stages.”

Quick facts: W Resources PLC

Price: 0.1625 GBX

Market: AIM
Market Cap: £10.89 m

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W Resources aims for large-scale production after first T2 mine blast at La...

W Resources PLC (LON:WRES) chairman Michael Masterman tells Proactive Investors about the first T2 mine blast at the La Parilla Tungsten Project in western Spain, successfully shot on April 30, 2019.    Masterman said the event was significant for the company and represented...

on 2/5/19

2 min read