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W Resources reports boost in revenues as La Parrilla operations go from strength to strength

W Resources has taken prudent measures to manage the threat of coronavirus at its operations

W Resources PLC -

W Resources PLC (LON:WRES) generated €365,000 in operating revenue in the year to December 31, 2019, up from €219,000 the previous year.

The company delivered a loss for the year of just under €3mln, as it began to build up a head of steam at its tungsten operations in Spain and Portugal.

There was €2.46mln in the bank at the year end.

"Whilst 2019 was a very challenging year with the core priority being completion of the La Parrilla plant and commencement of production and ramp-up, La Parrilla is in operation and is starting to reap the benefits from the substantial plant improvement programme executed over the last 3 months,” said W Resources chairman Michael Masterman in a statement.

“The bulk of the operational plant improvements have been installed and are now operational. We are of the view that the plant can progressively increase both recoveries and utilisation to increase production to design capacity."

Quick facts: W Resources PLC

Price: 0.1475 GBX

AIM:WRES
Market: AIM
Market Cap: £9.88 m
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