In a progress update, the AIM-listed miner said capital expenditure (capex) for the project including a contingency of €2.7mln was estimated to be on or below the budget of €27.1mln, with the crusher and jig & mill on schedule for completion in the fourth quarter of 2018 and concentrator completion for the first quarter of 2019.
The firm also said that all plant civil works had been completed, all major contracts had been placed, and 81.3% of capex had been committed.
Engineering and procurement for the project are also now over 90% complete.
Michael Masterman, Chairman of W Resources, added that tungsten and tin prices, in addition to the dollar to euro exchange rate, was tracking “well above the financial investment decision parameters” and construction was expected to accelerate over the next 6 months.
In early trading, shares in W Resources were up 2.3% at 0.4p.