viewW Resources PLC

W Resources PLC - La Parrilla Mining Contract Awarded

RNS Number : 4554B
W Resources PLC
07 June 2019


7 June 2019


W Resources Plc

("W" or the "Company")


La Parrilla Mining Contract Awarded


W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has formally signed the agreement with General de Maquinaria y Excavación S.L. ("GME") which has been awarded the mining contract for the La Parrilla tungsten project in Spain.

The La Parrilla mining fleet is now in place, with three 60-tonne haul trucks, a Liebherr excavator and other auxiliary equipment on site, which will be gradually scaled-up in response to the demand as ramp-up progresses. The GME team will be locally managed by an experienced mining engineer along with a production foreman and a safety manager responsible for the machine operating team.

Development at La Parrilla is progressing well and project construction completion remains in line with guidance for completion of the Concentrator Plant in June. With some smaller modular plant such as the MCC being delivered and installed in early July, commissioning of the Concentrator Plant also remains on plan for July.

Michael Masterman, Chairman of W Resources commented: "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. 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."



W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463



Grant Thornton UK LLP

Colin Aaronson / Seamus Fricker

T: +44 (0) 20 7383 5100



Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker

T: +44 (0) 203 621 4120



Gable Communications

Justine James

T: +44 (0) 20 7193 7463

M: +44 (0) 7525 324431

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 207 186 9004


Damon Heath

T:+44 (0) 207 186 9952






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 [email protected] or visit www.rns.com.

Quick facts: W Resources PLC

Price: 0.13

Market: AIM
Market Cap: £8.81 m

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...


W Resources chairman says they have the fundamentals in place to increase...

W Resources PLC 's (LON:WRES) chairman Michael Masterman and Pablo Neira, who oversees the spanish operation, discuss with Proactive its second quarter production report for La Parrilla. Run-of-mine feed into the plant reduced by 7% compared to the first three months of 2020, to total 253,256...

on 23/7/20