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W Resources to start ramping up production at Spanish tungsten mine

Production at La Parrilla tungsten and tin mine is scheduled to begin in October

W Resources PLC -
Tungsten shipments are set to accelerate as the new works come on stream.

W Resources PLC (LON:WRES) said it was on track to begin concentrate production from La Parrilla tungsten and tin mine in October, after construction of processing works was completed this month.

The project in south-west Spain, which was delivered on budget but saw third-party delays delay the commissioning of a new concentrator plant, will now see tungsten shipments accelerate as the new works come on stream.

La Parilla has now moved into the commissioning phase, ramping-up towards large-scale tungsten and tin concentrate production and sales.

The stop-start nature of commissioning and testing only allowed the older existing concentrator to produce 29.3 tonnes of concentrate during the first half of the year.

In the six months to June, revenue was €293,000 and the loss for the period halved to €1.0mln.

Looking forward, W Resources aims to begin production at the Régua mine and processing plant in Portugal next year, and is looking at bringing in joint venture partners to help monetise the São Martinho gold discovery in the same country.

Shares were down 3.16% to 0.37p in early afternoon.

Quick facts: W Resources PLC

Price: 0.1225 GBX

Market: AIM
Market Cap: £8.3 m

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