Proactiveinvestors United Kingdom W Resources PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom W Resources PLC RSS feed en Sun, 16 Jun 2019 05:41:20 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - W Resources formally signs up mining contractor ahead of La Parrilla start-up ]]> https://www.proactiveinvestors.co.uk/companies/news/221711/w-resources-formally-signs-up-mining-contractor-ahead-of-la-parrilla-start-up-221711.html W Resources PLC (LON:WRES) has announced the formal signing of a mining contract with General de Maquinaria y Excavación (GME) for the La Parrilla tungsten project in Spain.

A mining fleet, comprising three 60-tonne haulage trucks, is now in place at La Parrilla along with a Liebherr excavator and other auxiliary equipment.

The operation will be gradually scaled-up in step with demand as ramp-up progresses, W Resources said.

WATCH: W Resources sees first ore to newly installed jig and mill plant at La Parrilla

It noted that the mining team will be managed locally by an experienced mining engineer and a production foreman.

"Following detailed negotiations, we are delighted to have awarded the mining contract for La Parrilla to GME who bring extensive experience in mining and processing,” said Michael Masterman, W Resources' chairman.

“Importantly, the contract is in line with our final investment decision report, which further underpins our confidence of achieving the low operating costs we have outlined. The project remains within budget and we look forward to ramp-up to T2 of the project which will deliver significant earnings starting in 2019."

Meanwhile, construction and installation work is progressing well at the mine, with the concentrator plant on schedule to be completed in June. Other smaller modular plants are expected to be delivered in early July in time for the commissioning of the concentrator plant.

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Fri, 07 Jun 2019 08:06:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/221711/w-resources-formally-signs-up-mining-contractor-ahead-of-la-parrilla-start-up-221711.html
<![CDATA[RNS press release - La Parrilla Mining Contract Awarded ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190607070003_14102313/ Fri, 07 Jun 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190607070003_14102313/ <![CDATA[RNS press release - Notice of AGM and Annual Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190603144613_14096578/ Mon, 03 Jun 2019 14:46:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190603144613_14096578/ <![CDATA[RNS press release - Joint Broker Appointment ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190529081233_14090444/ Wed, 29 May 2019 08:12:33 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190529081233_14090444/ <![CDATA[RNS press release - Exercise of Warrants by Directors ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190522070005_14082696/ Wed, 22 May 2019 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190522070005_14082696/ <![CDATA[Media files - W Resources announces first ore to newly installed jig and mill plant at La Parrilla ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13423/w-resources-announces-first-ore-to-newly-installed-jig-and-mill-plant-at-la-parrilla-13423.html Tue, 21 May 2019 10:24:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13423/w-resources-announces-first-ore-to-newly-installed-jig-and-mill-plant-at-la-parrilla-13423.html <![CDATA[News - W Resources confirms completion of jig and mill plant at La Parrilla mine ]]> https://www.proactiveinvestors.co.uk/companies/news/220657/w-resources-confirms-completion-of-jig-and-mill-plant-at-la-parrilla-mine-220657.html W Resources PLC (LON:WRES) shares rose on Tuesday as it told investors that the first feed of ore into the newly installed jig and mill plant at the La Parrilla tungsten mine in Spain has taken place.

“The next step is construction completion of the new Concentrator Plant in June and commencement of commissioning in July,” said Michael Masterman, W Resources chairman.

“Great progress has been made by the team which keeps us on-track to ramp-up to design production capacity of 200 tonnes per month by the end of 2019,” he added.

READ: W Resources secures €3mln loan facility

The company noted the role that the plant plays in the mine’s ore processing. It explained to investors that the jig and mill takes ore crushed to less than 10mm whilst rejecting waste, efficiently increasing the grade that’s fed into the concentrator plant.

Work on a new large scale concentrator plant continues and completion is expected in June, with commissioning following in July.

Masterman added: “it is important to clarify that commissioning a metallurgical plant is not a turn of a key process. In the jig and mill plant alone there are two jigs, two roll mills, a thickener, reject disposal system, ten screens and feeders, nine conveyors, five pumps, and over 50 motors which need to be started, aligned and tied into an integrated control system."

He said; “The team has done an outstanding job commissioning the plant and achieving first jigged concentrate."

In afternoon trading, shares in W Resources were 4.5% higher at 0.47p.

 -- Adds share price --

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Tue, 21 May 2019 07:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/220657/w-resources-confirms-completion-of-jig-and-mill-plant-at-la-parrilla-mine-220657.html
<![CDATA[RNS press release - La Parrilla Jig Commissioned with First Ore ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190521070021_14080966/ Tue, 21 May 2019 07:00:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190521070021_14080966/ <![CDATA[News - W Resources secures €3mln loan facility ]]> https://www.proactiveinvestors.co.uk/companies/news/219951/w-resources-secures-3mln-loan-facility-219951.html Tungsten miner W Resources PLC (LON:WRES) has secured a €3mln loan facility with Caja Rural de Extremadura.

The loan facility provides an advance of funding against the €5.3mln grant awarded by the Junta de Extremadura Government that is expected to be paid to the company in the final quarter of 2019.

READ W Resources continues to advance La Parilla on-budget

The loan has an interest rate of 1.75% a year and runs for 15 months.

"The loan is a cost-effective way to enable advanced access to the Junta de Extremadura Government grant as part of the overall funding as we near completion of the T2 development at La Parrilla," said Michael Masterman, the chairman of W Resources.

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Thu, 09 May 2019 08:13:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219951/w-resources-secures-3mln-loan-facility-219951.html
<![CDATA[RNS press release - Advance on 5.3m EUR Grant through Extremadura Bank ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190509070003_14067311/ Thu, 09 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190509070003_14067311/ <![CDATA[News - W Resources completes first T2 blast at La Parrilla ]]> https://www.proactiveinvestors.co.uk/companies/news/219541/w-resources-completes-first-t2-blast-at-la-parrilla-219541.html W Resources PLC (LON:WRES) completed the first T2 mine blast at its La Parrilla tungsten project in Spain at the end of April.

The AIM-listed explorer said that the blast had covered a mainly barren zone to prepare access to 10 meter benches (narrow strips of land cut into the side of open-pit mines) closer to the project’s ROM Pad (where ore is deposited) and crusher plant in the fast track mining area.

WATCH: W Resources aims for large-scale production after first T2 mine blast at La Parilla Tungsten Project

The company added that the blast had continued to open up more directly accessible ore to the mine operation.

Michael Masterman, the group’s chairman, said the blast was a “significant event” and “kicks-off the commencement of hard rock mining operations”.

Going forward, the company said the immediate priority was to complete the commissioning of a jig & mill plant which was underway in parallel with the completion of a large-scale concentrator plant at the site.

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Thu, 02 May 2019 08:02:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219541/w-resources-completes-first-t2-blast-at-la-parrilla-219541.html
<![CDATA[RNS press release - La Parrilla Update and Mine Blast ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190502070003_14060196/ Thu, 02 May 2019 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190502070003_14060196/ <![CDATA[Media files - W Resources aims for large-scale production after first T2 mine blast at La Parilla Tungsten Project ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/13189/w-resources-aims-for-large-scale-production-after-first-t2-mine-blast-at-la-parilla-tungsten-project-13189.html Thu, 02 May 2019 02:29:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/13189/w-resources-aims-for-large-scale-production-after-first-t2-mine-blast-at-la-parilla-tungsten-project-13189.html <![CDATA[News - W Resources continues to advance La Parilla on-budget ]]> https://www.proactiveinvestors.co.uk/companies/news/219373/w-resources-continues-to-advance-la-parilla-on-budget-219373.html W Resources PLC (LON:WRES) has highlighted the progress at the La Parrilla mine which is moving towards large scale production levels.

The company, in its results statement for 2018, noted several key milestones for what was a busy and eventful year at La Parilla.

READ: W Resources starts commissioning jig and mill plant

In December, the company delivered its first tungsten shipment from the mine.

Importantly during the year the company sealed offtake agreements to sell its product, for around 80% of the planned production tonnage in the project’s second phase.

"La Parrilla is funded and near project completion,” said Michael Masterman, W Resources chief executive.

“The project is on budget with tungsten and tin production and sales. The project is set to move to large scale production levels at low cost in the third quarter following construction completion of the new concentrator plant this quarter.

“This will allow W Resources to deliver a progressive increase in production in the third and fourth quarters of 2019.”

W Resources reported a £4.05mln loss for the year, and, ended December with £6.08mln.

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Tue, 30 Apr 2019 12:48:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/219373/w-resources-continues-to-advance-la-parilla-on-budget-219373.html
<![CDATA[RNS press release - Final Results for the Year Ended 31 December 2018 ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190430115736_14057404/ Tue, 30 Apr 2019 11:57:36 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190430115736_14057404/ <![CDATA[RNS press release - Major Shareholding Notification ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190429121501_14055608/ Mon, 29 Apr 2019 12:15:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190429121501_14055608/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190418110037_14046463/ Thu, 18 Apr 2019 11:00:37 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190418110037_14046463/ <![CDATA[News - W Resources to raise more than £1mln through early exercise of warrants ]]> https://www.proactiveinvestors.co.uk/companies/news/218841/w-resources-to-raise-more-than-1mln-through-early-exercise-of-warrants-218841.html W Resources PLC (LON:WRES) plans to raise more than £1mln through the early exercise of warrants to provide working capital for its mining operations.

The company has offered existing warrant holders early exercise of 210,714,286 warrants to acquire new ordinary shares of 0.1p each with a strike price of 0.42p and an expiry date of June 20.

Shareholders will receive two new warrants for each existing warrant. Each new warrant will entitle the holder to subscribe for a new ordinary share at an exercise price of 0.6p up until the end of December 2020.

READ: W Resources higher as it commences commissioning of jig and mill plant at La Parrilla

Chairman Michael Masterman and non-executive director Byron Pirola, who own 35,714,284 warrants between them, intend to exercise their warrants on the same terms after the full year results. 

"This exercise will bring in funding of over £1mln and will provide additional working capital in advance of W entering production and the commissioning of its new plant at La Parrilla Mine,” said chairman Michael Masterman.

“The funds raised will further underpin the development work on our other key projects, further driving shareholder value and we look forward to updating shareholders of progress in the coming weeks."

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Thu, 18 Apr 2019 09:53:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218841/w-resources-to-raise-more-than-1mln-through-early-exercise-of-warrants-218841.html
<![CDATA[RNS press release - Early Exercise of Warrants ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190418093153_14046214/ Thu, 18 Apr 2019 09:31:53 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190418093153_14046214/ <![CDATA[News - W Resources higher as it commences commissioning of jig and mill plant at La Parrilla ]]> https://www.proactiveinvestors.co.uk/companies/news/218659/w-resources-higher-as-it-commences-commissioning-of-jig-and-mill-plant-at-la-parrilla-218659.html W Resources PLC (LON:WRES) shares were higher on Tuesday as the firm commenced the commissioning of the jig and mill plant at its La Parrilla tungsten project in Spain.

The jig and mill plant will upgrade the La Parrilla ore, efficiently reject barren material, and prepare material for feed to the concentrator plant. The upgraded and milled mine feed will allow for a significant upgrade in production rates.

WATCH: W Resources showcases new La Parilla jig and concentrator in Spain

In parallel, development work on the new large scale concentrator plant has advanced over the last three weeks with 90% of all structural steel and primary equipment now on-site and being installed. The large concentrator plant is scheduled for construction completion this quarter.

The mine is primed for scale-up, with preparatory grade control drilling completed and the ramp from the Fast Track Mine (FTM) area to the crusher plant also completed. The first hard rock blasting of the 10 metre benches in the FTM area is also scheduled for this month.

"The commencement of commissioning the La Parrilla jig and mill plant following construction completion is a very important milestone as we advance to full completion of the two million tonne per annum plant,” said W Resources chairman Michael Masterman.

“We expect to be able to feed crushed ore to the jig and mill plant in late April and then process it through our existing concentrator plant. This will allow a significant increase in near term tungsten and tin production capacity.”

In afternoon trading, shares in W Resources were up 2.8% at 0.55p.

 -- Adds share price --

 

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Tue, 16 Apr 2019 08:09:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/218659/w-resources-higher-as-it-commences-commissioning-of-jig-and-mill-plant-at-la-parrilla-218659.html
<![CDATA[RNS press release - Jig & Mill Plant Completed for Commissioning ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190416070013_14042077/ Tue, 16 Apr 2019 07:00:13 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190416070013_14042077/ <![CDATA[Media files - W Resources showcases new La Parilla jig and concentrator in Spain ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12891/w-resources-showcases-new-la-parilla-jig-and-concentrator-in-spain-12891.html Fri, 05 Apr 2019 14:44:00 +0100 https://www.proactiveinvestors.co.uk/companies/stocktube/12891/w-resources-showcases-new-la-parilla-jig-and-concentrator-in-spain-12891.html <![CDATA[News - W Resources hits high grade drilling intercepts at Régua tungsten project in Portugal ]]> https://www.proactiveinvestors.co.uk/companies/news/217616/w-resources-hits-high-grade-drilling-intercepts-at-rgua-tungsten-project-in-portugal-217616.html W Resources PLC (LON:WRES) shares rose on Monday as the firm said it hit high-grade intersections from recent diamond core and reverse circulation drilling at the Régua mine development in Northern Portugal.

The company has completed over 2.73 kilometres of drilling comprising 916 metres of diamond core drilling, plus 1,809 metres of RC drilling.

WATCH: W Resources showcases new La Parilla jig and concentrator in Spain

The results confirm thick higher grade zones closer to the planned mine portals, including 29 metres at 0.75% tungsten trioxide (WO3) and six metres at 0.43% WO3.

The next phase will be to complete the updated resource estimates and mine optimisation planning to incorporate these new results which are expected to increase plant feed grades in the planned initial mining phase.

"The exceptionally good drilling results at our Régua tungsten project in Portugal bode well for increases in mine feed grades and overall resource tonnages,” said W Resources chairman Michael Masterman.

“The high-grade zones are thicker and closer to the planned two mining portals, indicating the potential for higher ROM feed grades and lower unit costs. We will now complete updated resources estimates and optimise initial mine plans."

In afternoon trading, shares in W Resources were 4.4% higher at 0.47p.

 -- Adds share price --

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Mon, 01 Apr 2019 08:16:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/217616/w-resources-hits-high-grade-drilling-intercepts-at-rgua-tungsten-project-in-portugal-217616.html
<![CDATA[RNS press release - High Grade Tungsten Intersections at Régua ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190401070006_14022468/ Mon, 01 Apr 2019 07:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190401070006_14022468/ <![CDATA[News - W Resources set to become major European tungsten producer ]]> https://www.proactiveinvestors.co.uk/companies/news/216868/w-resources-set-to-become-major-european-tungsten-producer-216868.html  

First tin and tungsten produced late in 2018 Plant construction and installation nearing completion Significant revenues and profits expected this year Other development assets progressing

 

What does W Resources do?

W Resources PLC (LON:WRES) is a long-standing constituent of London’s AIM market, run by mining entrepreneur Michael Masterman. Masterman has been involved with several resources companies over the years and has plenty of experience in bringing projects all the way from early stage exploration towards and into the production stage. W Resources is focussed primarily on tungsten, tin and gold.

What does W Resources own?

The company owns several exploration and development assets in Spain and Portugal, most notably the La Parrilla project, which produced its first tin and tungsten late last year.

The fully automated 350 tonnes per hour crushing circuit is already operational. It can be run with one operator and has run smoothly at full capacity.

Work on the plant and wider infrastructure are also nearing completion, as the ramp-up process continues.

Iberdrola, the Spanish utility company, is on schedule to upgrade the grid power supply to 1.5MW in the second quarter of this year. 

Meanwhile, at Régua in Portugal, development work continues to progress well. Infill drilling of the mine entry portals is now complete and database completion is underway for a review of the resource.

Road construction, mining contractor and contract crushing contract negotiation is advanced and is expected to be finalised in the third quarter of 2019.

And at the São Martinho gold deposit in Portugal, SRK Consulting is progressing well with the updated gold resource estimate, which is expected to be finalised in the second quarter of 2019. W Resources has applied for a trial mine licence in order to commence initial mining and production and this will be progressed through the Portuguese regulatory programme.

Broker Northland expecting significant revenues this year

Broker Northland forecasts that the La Parilla project will generate revenues of around £29mln this year, following the completion of the ramp-up process. That will translate into profits before tax of £7.6mln and earnings per share of 0.1p. At the end of the year, Northland forecasts that the company will be carrying a debt of around £15mln. The broker sets a price target of 1.2p

Chairman Michael Masterman upbeat about progress

"It has been an intense first quarter at La Parrilla with plant and infrastructure construction completion and production ramp-up running at a fast pace,” said Michael Masterman, chairman of W Resources. 

“Completion and commissioning of the jig in April will give us the operational capability to expand tungsten and tin production as part of the second stage of plant ramp-up.”

 

 

 

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Thu, 21 Mar 2019 09:44:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216868/w-resources-set-to-become-major-european-tungsten-producer-216868.html
<![CDATA[Media files - W Resources makes major progress on plant construction at tungsten-tin project in Spain ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12636/w-resources-makes-major-progress-on-plant-construction-at-tungsten-tin-project-in-spain-12636.html Tue, 19 Mar 2019 08:31:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12636/w-resources-makes-major-progress-on-plant-construction-at-tungsten-tin-project-in-spain-12636.html <![CDATA[News - W Resources firing on all cylinders as production ramp up at La Parrilla continues ]]> https://www.proactiveinvestors.co.uk/companies/news/216615/w-resources-firing-on-all-cylinders-as-production-ramp-up-at-la-parrilla-continues-216615.html W Resources PLC (LON:WRES) is continuing with construction and installation work at the La Parilla project in Spain as part of its ramp up to full production.

The mill is scheduled for mechanical completion later this month. Commissioning is expected to commence in early April, with first crusher ore feed into the plant in April.

WATCH: W Resources makes three more tungsten shipments from its new Spanish mine

The majority of the equipment for the new large-scale concentrator is now on site. With steel deliveries underway, W Resources expects to be able to accelerate construction of the concentrator over the next two months. 

The fully automated 350 tonnes per hour crushing circuit is fully commissioned and operational. It can be run with one operator and has run smoothly at full capacity.

Initial water supply systems and the full Aggreko LNG power plant are in place and operational.

Iberdrola, the Spanish utility company, is on schedule to upgrade the grid power supply to 1.5MW in the second quarter of this year. 

Mine development is advanced. The fast track mine area, including the high-grade outcrops, has been cleared for initial mine operations and the ramp from the mine to the ROM pad nearing completion.

Assets in Portugal

Meanwhile, at Régua in Portugal, development work continues to progress well. Infill drilling of the mine entry portals is now complete and database completion is underway for a review of the resource.

Road construction, mining contractor and contract crushing contract negotiation is advanced and is expected to be finalised in the third quarter of 2019.

At the São Martinho gold deposit in Portugal, SRK Consulting is progressing well with the updated gold resource estimate, which is expected to be finalised in the second quarter of 2019. W Resources has applied for a trial mine licence in order to commence initial mining and production and this will be progressed through the Portuguese regulatory programme.

"It has been an intense first quarter at La Parrilla with plant and infrastructure construction completion and production ramp-up running at a fast pace,” said Michael Masterman, chairman of W Resources. 

“Completion and commissioning of the jig in April will give us the operational capability to expand tungsten and tin production as part of the second stage of plant ramp-up.”

 

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Mon, 18 Mar 2019 07:50:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/216615/w-resources-firing-on-all-cylinders-as-production-ramp-up-at-la-parrilla-continues-216615.html
<![CDATA[RNS press release - Update on La Parrilla and on Portuguese assets ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190318070006_14005015/ Mon, 18 Mar 2019 07:00:06 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190318070006_14005015/ <![CDATA[Media files - W Resources makes three more tungsten shipments from its new Spanish mine ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/12152/w-resources-makes-three-more-tungsten-shipments-from-its-new-spanish-mine-12152.html Fri, 08 Feb 2019 13:30:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/12152/w-resources-makes-three-more-tungsten-shipments-from-its-new-spanish-mine-12152.html <![CDATA[News - W Resources makes three more tungsten shipments from its new Spanish mine ]]> https://www.proactiveinvestors.co.uk/companies/news/213959/w-resources-makes-three-more-tungsten-shipments-from-its-new-spanish-mine-213959.html W Resources PLC (LON:WRES) has completed three further shipments of tungsten to its European customer, following the delivery of the first shipment in December.

Cumulative production from the company’s mine in Spain now exceeds 50 tonnes of tungsten concentrate, and output is expected to rise in February as the focus moves to higher grade ore and away from historic tailings feed.

WATCH: W Resources' production from La Parrilla is 'very well-timed'

"We are pleased to hit the 50 tonnes production milestone and have delivered our first four tungsten shipments, taking into account minimal shutdowns over the festive season,” said W Resources chairman Michael Masterman.

“Optimising plant performance and ensuring quality production specifications continue to be met remain the core building blocks in the planning as we move to larger scale production in the second quarter of 2019. It's great to have the crusher complete and commissioned ahead of schedule and the core power, water, drainage, office and warehouse facilities complete and commissioned.”

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Tue, 05 Feb 2019 07:40:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213959/w-resources-makes-three-more-tungsten-shipments-from-its-new-spanish-mine-213959.html
<![CDATA[RNS press release - La Parilla Mine Update and Issue of Shares ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190205070015_13957949/ Tue, 05 Feb 2019 07:00:15 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20190205070015_13957949/ <![CDATA[Media files - W Resources' production from La Parrilla is 'very well-timed' ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11746/w-resources--production-from-la-parrilla-is--very-well-timed--11746.html Wed, 09 Jan 2019 16:29:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11746/w-resources--production-from-la-parrilla-is--very-well-timed--11746.html <![CDATA[News - W Resources announces La Parrilla mine's first crushed ore ]]> https://www.proactiveinvestors.co.uk/companies/news/211548/w-resources-announces-la-parrilla-mine-s-first-crushed-ore-211548.html W Resources PLC (LON:WRES) has fed the first mined ore into the new crusher plant at its flagship tungsten and tin La Parrilla mine in Spain ahead of schedule.

Commissioning of the mined ore is now underway.

READ: W Resources completes La Parrilla mine’s crusher plant

"First ore into new crusher was achieved on 18 December 2018 ahead of the January 2019 target and is a great credit to the team at La Parrilla,” said chairman Michael Masterman.

“We wish everyone a safe and Merry Christmas and a positive New Year."

W Resources PLC (LON:WRES) has fed the first mined ore into the new crusher at its flagship tungsten and tin La Parrilla mine in Spain ahead of schedule.

Commissioning of the mined ore is now underway.

The group announced earlier this month the mechanical completion of the crusher – the first of three plants to be completed at La Parrilla.

The crushing circuit has been engineered to minimise the creation of tungsten fines and is designed to process 350 tonnes per hour of ore.

READ: W Resources adds fund manager Miton Group to its share register following £1.5mln share placing

Broker, Northland Capital Partners, said: "Increased volume of mined ore is expected to be delivered to the plant as it moves into 2019, in accordance with a planned ramp-up ahead of the commissioning of a new larger scale concentrator in Q219.

"This is expected to allow the company to generate revenue and cash flow ahead of its move to large-scale production later in 2019 for which it plans a run rate of 2,500 tonnes per annum of tungsten concentrate."

Northland said the company's strategic planning is now advancing well, having secured a US$35m debt finance facility from Blackrock along with two major offtake agreements in Europe and the US against a background of firm product pricing.

The broker added that this was facilitated by last month’s £1.5mln fundraise, which was designed to provide working capital independent of the debt finance facility, while also introducing new investors to the share register.

Northland has a 'buy' recommendation and price target of 1.2p on the stock. In early afternoon trading, W Resources shares were trading at 0.53p each, up 1.9% on Wednesday's close.

 -- Adds share price -- 

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Thu, 20 Dec 2018 07:56:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/211548/w-resources-announces-la-parrilla-mine-s-first-crushed-ore-211548.html
<![CDATA[RNS press release - La Parrilla Mine's First Crushed Ore ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181220070003_13910529/ Thu, 20 Dec 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181220070003_13910529/ <![CDATA[Media files - W Resources completes La Parrilla mine’s crusher plant ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11570/w-resources-completes-la-parrilla-mines-crusher-plant-11570.html Mon, 10 Dec 2018 15:57:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11570/w-resources-completes-la-parrilla-mines-crusher-plant-11570.html <![CDATA[News - W Resources completes La Parrilla mine’s crusher plant ]]> https://www.proactiveinvestors.co.uk/companies/news/210855/w-resources-completes-la-parrilla-mines-crusher-plant-210855.html W Resources PLC (LON:WRES) has today announced the mechanical completion of the La Parrilla crusher plant.

It paves the way for commissioning of mined ore from the Spanish project during January, the company said in a stock market statement.

READ: W Resources delivers first tungsten shipment from La Parrilla Mine

“The crusher is the first of the three La Parrilla plants to be completed and it's a great credit to the team to complete it ahead of schedule and on budget,” said Michael Masterman, W Resources chairman.

“We are looking forward to first mined ore into the crusher early in the new year which will contribute to an increase in production rates from La Parrilla in line with the planned ramp-up programme."

W Resources told investors that the crushing circuit has been engineered to minimise tungsten fines and it is designed to process 350 tonnes of ore per hour.

It is made up of a jaw crusher and secondary cone crusher, both with vibrating grizzlies, as well as two tertiary cone crushers in closed circuit with a double deck banana screen.

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Mon, 10 Dec 2018 08:41:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210855/w-resources-completes-la-parrilla-mines-crusher-plant-210855.html
<![CDATA[RNS press release - Mechanical Completion of La Parrilla Crusher Plant ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181210070005_13896672/ Mon, 10 Dec 2018 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181210070005_13896672/ <![CDATA[News - W Resources jumps as it delivers first tungsten shipment from La Parrilla Mine ]]> https://www.proactiveinvestors.co.uk/companies/news/210371/w-resources-jumps-as-it-delivers-first-tungsten-shipment-from-la-parrilla-mine-210371.html Shares in W Resources PLC (LON:WRES) jumped in late-morning trading Monday as it delivered the first shipment of tungsten concentrate from its La Parrilla mine in Spain.

Michael Masterman, chairman of the AIM-listed miner, said that the order had been delivered on 30 November with shipment sizes to build through December and the new year as part of a production ramp up.

READ: W Resources commences production of tin and tungsten and La Parrilla

“W has now commenced the first of a three stage production programme which allows the company to generate revenue and cash flow ahead [of] the move to large scale production in 2019 at a planned run rate of 2,500 tonnes per annum of tungsten concentrate,” Masterman said.

The company began production of tungsten and tin at the mine in mid-November as part of a plan to bring it to full mine production in the second half of 2019.

In a note to clients, analysts at Northland Capital said that despite the "positive news, La Parrilla’s quality concentrate and excellent geographical location", the share price had "failed to respond to the Project delivering on its advanced development stages", making them appear "significantly unvalued". 

Shares were up 3.9% at 0.54p.

-- Adds broker comment and updates share price --

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Mon, 03 Dec 2018 08:36:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210371/w-resources-jumps-as-it-delivers-first-tungsten-shipment-from-la-parrilla-mine-210371.html
<![CDATA[RNS press release - First Tungsten Shipment from the La Parrilla Mine ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181203070008_13887991/ Mon, 03 Dec 2018 07:00:08 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181203070008_13887991/ <![CDATA[News - W Resources adds fund manager Miton Group to its share register following £1.5mln share placing ]]> https://www.proactiveinvestors.co.uk/companies/news/210024/w-resources-adds-fund-manager-miton-group-to-its-share-register-following-15mln-share-placing-210024.html W Resources PLC (AIM:WRES) has added institutional fund manager Miton Group to its share register following a share placing which raised £1.5mln for the group.

The tungsten, copper and gold mining company, with assets in Spain and Portugal, said it completed a placement of 306,122,449 ordinary shares at 0.49p each – Monday’s closing price - with both new and existing shareholders.

READ: W Resources commences production of tin and tungsten and La Parrilla

The group said the inclusion of Miton Group “significantly strengthens institutional participation in the register”.

It said the placing ensures strong working capital reserves and balance sheet with institutional support as the company advances its tungsten and tin development plans.

As announced on 20 November 2018, W Resources has commenced early start-up of production of tungsten and tin concentrate at the La Parrilla mine in Spain as part of a planned staged build-up to full mine production in the first half of 2019.

Michael Masterman, W Resources’ chairman, commented: "We are delighted to welcome Miton to our shareholder register. Miton is an award winning fund management group and this investment represents an important milestone for W just as it enters production and the commissioning of its new plant.

“The funds raised will further underpin the development work, driving shareholder value and we look forward to further updating shareholders of progress in the coming weeks."

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Tue, 27 Nov 2018 11:04:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/210024/w-resources-adds-fund-manager-miton-group-to-its-share-register-following-15mln-share-placing-210024.html
<![CDATA[RNS press release - Placing to Raise £1.5m ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181127105009_13881898/ Tue, 27 Nov 2018 10:50:09 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181127105009_13881898/ <![CDATA[RNS press release - TPI Investor Evening - 10 December ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181123070003_13877930/ Fri, 23 Nov 2018 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181123070003_13877930/ <![CDATA[RNS press release - Grant of Share Options ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181120161912_13874082/ Tue, 20 Nov 2018 16:19:12 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181120161912_13874082/ <![CDATA[Media files - W Resources announces early start-up of tin and tungsten production at La Parrilla ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11254/w-resources-announces-early-start-up-of-tin-and-tungsten-production-at-la-parrilla Tue, 20 Nov 2018 09:37:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11254/w-resources-announces-early-start-up-of-tin-and-tungsten-production-at-la-parrilla <![CDATA[News - W Resources commences production of tin and tungsten and La Parrilla ]]> https://www.proactiveinvestors.co.uk/companies/news/209537/w-resources-commences-production-of-tin-and-tungsten-and-la-parrilla-209537.html W Resources PLC (LON:WRES) has commenced production of tungsten and tin concentrate at the La Parrilla mine in Spain as part of a planned staged build-up to full mine production in the second half of 2019.

Production is expected to reach 10 to 15 tonnes per month from November 2018, with the first shipment planned for December 2018.

WATCH: W Resources CEO Michael Masterman updates on tungsten projects and markets

The early start-up allows W to generate revenue and cash flow ahead of large-scale production at a planned run rate of 2,500 tonnes per annum of tungsten concentrate.

It also allows the La Parrilla technical team to fine-tune the design enhancements built into the large-scale La Parrilla concentrator in the current plant.

"It's great to be back in production ahead of start-up of the large-scale plant in the New Year,” said chairman Michael Masterman.

“Tungsten and tin prices are robust and our staged production expansion will allow W to build-up production capacity ahead of full plant completion. The early completion of the crusher in the fourth quarter of 2018 allows us to accelerate tungsten production from La Parrilla in three decisive steps. The first step is to start production from the existing concentrate plant. We will then significantly lift production rates in the New Year with first crushed mine feed being fed to the existing concentrator which will, in turn, pave the way for production from the new large-scale concentrator in the second quarter of 2019."

Elsewhere, SRK Consulting has been appointed to complete the São Martinho gold deposit resource estimate, scheduled for completion in the first quarter of 2019. Following careful evaluation, W has decided to switch from Golder Associates Pty Ltd to SRK Consulting (UK) Ltd for this important work, and work is already underway

 

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Tue, 20 Nov 2018 07:53:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/209537/w-resources-commences-production-of-tin-and-tungsten-and-la-parrilla-209537.html
<![CDATA[RNS press release - La Parrilla Commences Tungsten Tin Production ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181120070017_13872734/ Tue, 20 Nov 2018 07:00:17 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181120070017_13872734/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181112164051_13864003/ Mon, 12 Nov 2018 16:40:51 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181112164051_13864003/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181112163538_13863993/ Mon, 12 Nov 2018 16:35:38 +0000 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181112163538_13863993/ <![CDATA[Media files - W Resources CEO Michael Masterman updates on tungsten projects and markets ]]> https://www.proactiveinvestors.co.uk/companies/stocktube/11113/w-resources-ceo-michael-masterman-updates-on-tungsten-projects-and-markets-11113.html Tue, 06 Nov 2018 18:00:00 +0000 https://www.proactiveinvestors.co.uk/companies/stocktube/11113/w-resources-ceo-michael-masterman-updates-on-tungsten-projects-and-markets-11113.html <![CDATA[RNS press release - New Website ]]> https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181015075340_13828339/ Mon, 15 Oct 2018 07:53:40 +0100 https://www.proactiveinvestors.co.uk/companies/rns/176/LSE20181015075340_13828339/