Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

W Resources boosted by significant recovery in Tungsten prices

"The fundamentals of La Parrilla are ever more competitive with the tungsten price increase of over 50% to more than US$310/mtu in the past 9 months."
mine truck
W Resources reported a £381,000 loss after tax.

European mine developer W Resources PLC (LON:WRES) highlighted a significant recovery in Tungsten prices in 2017, up around 50% in the year to date.

In its interim results statement, W Resources added that continued shortages of tungsten concentrate bodes well for the rest of the year.

Michael Masterman, W Resources chairman, said: "The fundamentals of La Parrilla are ever more competitive with the tungsten price increase of over 50% to more than US$310/mtu in the past 9 months, and with the design and construction for the 2mtpa plant advancing we well positioned to accelerate development on completion of the planned debt financing, which expect to be completed in Q4 2017."

“We appreciate our shareholders' patience as we reach the next major milestone with the debt financing and we are as keen as any to conclude our negotiations in order to ramp up the La Parrilla project development."

Masterman also highlighted that planned drill programmes at the Régua and at Tarouca areas will further develop the trial mine design as well as boost overall tungsten resources.

W Resources reported a £381,000 loss after tax.

View full WRES profile View Profile

W Resources PLC Timeline

Big Picture
September 10 2018

Related Articles

Picture of drill rig
May 03 2018
The Strickland project covers over 100 strike kilometres of greenstone belts and straddles the Evanston and Yuinmery Shear Zones.
December 07 2017
King's Bay's drill core is already attracting significant interest, with assays due next month
Top of King River's Mt Remarkable project
June 29 2018
The Speewah project includes Australia's largest titanomagnetite hosted vanadium resource.

No investment advice

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 suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use