W Resources PLC Concentrator Contract awarded (4237B)

TIDMWRES

RNS Number : 4237B

W Resources PLC

09 January 2018

10 January 2018

W Resources Plc

("W" or the "Company")

Concentrator Contract awarded to allmineral

W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, has awarded the design and construct contract for the La Parrilla Concentrator to allmineral Aufbereitungstechnik GmbH & Co. KG of Germany ("allmineral") at a contract price of cEUR8 million.

The Concentrator is the third core component of the La Parrilla plant infrastructure, following the contract awards for the Crusher and Jig & Mill last year, and provides the final stage of beneficiation in the process to produce a 66% tungsten concentrate and 62% tin final concentrate. The robust design put forward by allmineral targets maximum separation efficiency throughout and actively collects the fines generated from various processing stages to be reprocessed in a dedicated scavenging circuit. The layout considers the potential requirement for incremental capacity additions as well as the possibility of an ultrafine falcon circuit addition to maximise recoveries in the future.

Michael Masterman, Chairman of W Resources commented: "The award of the Concentrator to allmineral is a significant milestone and a core part of the development and financing programme for La Parrilla. All major plant components are now contracted and aligned with the US$30 million term loan financing. Germany's allmineral is responsible on a fixed schedule and price contract for delivery of the both the Jig & Mill and Concentrator providing important integration benefits in project delivery."

Enquiries:

 
W Resources Plc                Grant Thornton UK LLP 
 Michael Masterman              Colin Aaronson / Jen 
 T: [phone]        Clarke / Harrison Clarke 
 www.wresources.co.uk           T: [phone] 
Turner Pope Investments (TPI)  Gable Communications 
 Ltd                            Justine James 
 Andy Thacker                   T: [phone] 
 T: [phone]        M: [phone] 
 www.turnerpope.com 
 

About W

In 2012, W Resources Plc (AIM:WRES) made the successful transition into a tungsten production exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain and Régua and Tarouca Tungsten projects and the Portalegre copper-gold project in Portugal.

The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity. Tungsten and Tin prices have increased significantly over the last 12 months and Tungsten is in the EUs top 5 critical metals list.

The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.

The Company was incorporated in England and Wales in 2004.

This information is provided by RNS

The company news service from the London Stock Exchange

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January 10, 2018 02:00 ET (07:00 GMT)