W Resources PLC La Parrilla Update (5949G)
November 26 2020 - 1:00AM
UK Regulatory
TIDMWRES
RNS Number : 5949G
W Resources PLC
26 November 2020
26 November 2020
W Resources Plc
("W" or the "Company")
La Parrilla Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining
company with assets in Spain and Portugal, announces an update on
Q4 progress to date at the La Parrilla tungsten and tin project in
Spain, following the marked improvement in September, as announced
in the Q3 Production Report.
The ongoing plant improvements have seen overall recoveries
consolidate during the quarter to date, with detailed results to be
announced in the Q4 production update in January 2021.
The operations team moved to a four-day working week on 4
November and can report:
-- Record concentrator recovery rates achieved in November of 40% WO(3) and 53% Sn.
-- Mine grade consistently exceeding 1,050ppm WO(3) and 350ppm
Sn, which are significantly greater than the preceding three
quarters.
-- Plant utilisation remains above 90%, which is encouraging
noting the move to a four-day working week (24h per day over three
shifts per day).
-- Tungsten and tin concentrate production to date exceeds total Q3 production of 77.6t.
-- As recoveries and production improves, plans are in place to
move to a five-day working week, with minimal closure over the
Christmas period.
-- Three 20t shipments of tungsten concentrate completed to
date, with further shipments planned.
Pablo Neira, Managing Director of Iberian Resources Spain and La
Parrilla Mine commented: "Following the improvements that led to
such a strong September, I am greatly encouraged that this momentum
has continued into Q4. These significant plant improvements
together with accessing higher grade portions of the ore body are
enabling us to build production rates each month as we work to
increase concentrate production. We look forward to updating the
market with the Q4 production update in January."
Noting the challenges of the past year, W is providing this
interim project update as a one-off update in order to keep
investors appraised of the positive progress and developments at
the La Parrilla project.
Information communicated within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Seamus Fricker
c/o Alma PR T: +44 (0) 20 7383 5100
www.wresources.com
Joint Broker Joint Broker
Turner Pope Investments (TPI) Alternative Resource Capital /
Ltd Shard Capital
Andy Thacker / Zoe Alexander Alex Wood
T: +44 (0) 203 657 0050 T:+44 (0) 20 7186 9004
www.turnerpope.com www.altrescap.com
Damon Heath
T:+44 (0) 20 7186 9952
www.shardcapital.com
Alma PR
Justine James
T: +44 (0) 20 3405 0205
M: +44 (0) 7525 324431
wres@almapr.co.uk
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFEMSMMESSEEF
(END) Dow Jones Newswires
November 26, 2020 02:00 ET (07:00 GMT)
W Resources (LSE:WRES)
Historical Stock Chart
From Mar 2024 to Apr 2024
W Resources (LSE:WRES)
Historical Stock Chart
From Apr 2023 to Apr 2024