W Resources Share Discussion Threads

[cpap man] 05/2/2019 07:59

5 February 2019





W Resources Plc

("W" or the "Company")



La Parrilla Mine Development Advances Toward Completion

Production Exceeds 50 tonnes



Issue of Ordinary Shares

W Resources Plc (AIM:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, is pleased to report completion of further shipments of tungsten concentrate from its La Parrilla Mine in Spain, where development remains on track as construction of the Jig Plant advances towards completion.

Following the first shipment, announced in December, W has completed three further shipments which have now been delivered to its European customer. Cumulative production now exceeds 50 tonnes of tungsten concentrate and production rates are expected to grow in February as production switches to higher grade mined ore from historic tailings feed.

Development completion is progressing on multiple fronts with the Crusher fully commissioned in December 2018, the LNG power station completed and commissioned in January 2019 and the new operations offices and non-plant infrastructure now complete.

Jig Plant construction has accelerated following some initial delays in receipt of fabricated steel and the new mills have arrived on site for immediate installation. The Jig Plant is expected to be mechanically complete in early March and commissioned through that month.

The bulk of the equipment for the Concentrator including the shaking tables are on site and shipments of modular spirals from Australia arrive in early February. allmineral Aufbereitungstechnik GmbH & Co. is contractually responsible for the on-budget and on-schedule completion of the Jig Plant and the Concentrator and the continued delivery of structural steel deliveries for the Concentrator is key for plant completion.

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

"Mine optimisation and planning is also advanced with in excess of 7,100 metres of grade control drilling complete and the fast track mine area ready for initial mining operations in February."

[lalji027] 05/2/2019 07:52

Latest RNS clipit-
Michael Masterman, Chairman of W Resources, commented: "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. 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.

"Mine optimisation and planning is also advanced with in excess of 7,100 metres of grade control drilling complete and the fast track mine area ready for initial mining operations in February."

Issue of Ordinary Shares

W has issued 9,183,673 ordinary shares of 0.1p each ("Ordinary Shares") at 0.49p per Ordinary Share to its broker,

[plat hunter] 04/2/2019 20:02

There's videos on youtube of the same stills from La Parilla from over 4 years ago.What an idiot lol

[plat hunter] 04/2/2019 20:01

Concentrator should be delivered and built by q1 as per September RNSStill not delivered yet though

[kryptonsnake] 04/2/2019 19:53

He's trying to put people off buying I guess. Most here can see straight through his lies

silly sausage missed out on buying when it was 20% lower

[mogwhy] 04/2/2019 19:47

That silly Plat Hunter troll keeps going on about the concentrator being late,
but he's wrong on this as well as everything else.

"Stage 3 - Commence production from the new large scale concentrator in Q2 2019
following its construction completion in Q1 2019. With this final step,
production is scheduled to steadily ramp-up to over 200 tpm at the end of 2019."

From RNS November 2018.

[kryptonsnake] 04/2/2019 18:23

Amazing, thanks mogwhy

That's how you put up a plant. Other companies could learn a thing or two from WRES

[mogwhy] 04/2/2019 18:11

Some videos of the construction at La Parrilla.

is the last week timelapse video.

is the total timelapse video.

[plat hunter] 04/2/2019 14:48

Just in dilution it's an average of £92,500 a year, not withstanding favorable contracts as a result of 3rd party directorships.

Why else do you think WRES needed to draw down 30 million to build a plant at la Parilla.. That plant shouldn't be costing more than 8 million

[mogwhy] 04/2/2019 14:29

Plat Hunter - how much salary do you think MM takes ?
Lol, clueless.

[jaf1948] 04/2/2019 14:13

Can we have some proof that the concentrator has 'not turned up' please ?

Can we have some proof that the shares mentioned earlier were sold for 'boob jobs and botox' ?

Remember the laws of libel apply to the internet too whether or not nicknames are used.

[plat hunter] 04/2/2019 14:03

Keep telling yourself that Mogwhy and keep telling yourself that Masterman doesn't keep diluting shareholders to award himself free shares as well as taking his salary.

Keep telling yourself that all is well here and is on schedule and the concentrator will turn up any day now

[mogwhy] 04/2/2019 13:52

Actually, serious investors will know that trolls like Plat Hunter
are actually on the same side.
In trying to keep the share price down so that he can build a position,
he has completely failed.
Since the trolling started about 3 months ago at around 0.4p
the share price has risen by 25%, despite all the lies and misdirection.

[plat hunter] 04/2/2019 13:51

Diluting shareholders for boob jobs and botox is not acceptable mogwhy

[kryptonsnake] 04/2/2019 13:47

Plat Hunter likes to lie. It's the only way he can win in life

[mogwhy] 04/2/2019 13:46

Lol - Plat Hunter is making things up.

This is the truth.

"W Resources Plc (AIM:WRES), advises that Mrs H Gibson (wife of Mr Michael Masterman) notified the Company on 20 January 2016 that 3,000,000 ordinary shares of 0.1p per share ("Ordinary Shares"), representing 0.08 per cent of the total voting rights in the Company, were sold in an off-market transaction for a consideration of 0.60p per Ordinary Share on 20 January 2016. The sale was made in order to cover unexpected family medical expenses."

All verifiable in an RNS.



Where do these muppets come from?

[plat hunter] 04/2/2019 13:37

Mogwhy, stop being a desperate ramping liar.

Masterman last sold 3 million at 0.60 in Jan 2016, only 10 weeks after gifting himself 15 million shares via a placing at PI's expense.

Rinse and repeat...........

20-Jan-16 Sell Trade Notifier Information for W Resources Michael Masterman 0.6 GBX 3,000,000 171066866

[mogwhy] 04/2/2019 12:44

Lol - Michael Masterman hasn't sold any shares in the last 10 years.
I seem to recall his wife selling a few to pay for some unexpected medical expenses.

Plat Hunter really hasn't got a clue.
MM has even bought £180,000 worth of shares at 0.8p in the past.

Serious investors will have done proper research and know the score.

[wooster4] 04/2/2019 09:28

you really are a nasty little person aren't you plat!

[plat hunter] 04/2/2019 07:26

I wonder if the concentrator will come this week?Watch this flat line at best until it does.

[plat hunter] 02/2/2019 10:55

Nope not until, Masterman stops lieing and starts delivering.

This will bounce on the announcement of the JIG being compeleted, then pull back and bounce again on the concentrator being delivered and fitted, whenever that will be.

But there's so much uncertainty over the plant capacity and the the price of tungsten and the cost to produce the fine tungston that it could easily gobble up your money as they need further placings to bring on the Portugal projects.

[alittlebirdtoldme] 02/2/2019 10:24

Wow..someone has been busy!

I take it you're not even interested in trading this now plat?