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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
W Resources Plc | LSE:WRES | London | Ordinary Share | GB00BKQN5R41 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.65 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMWRES
RNS Number : 5949G
W Resources PLC
26 November 2020
26 November 2020
W Resources Plc
("W" or the "Company")
La Parrilla Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, announces an update on Q4 progress to date at the La Parrilla tungsten and tin project in Spain, following the marked improvement in September, as announced in the Q3 Production Report.
The ongoing plant improvements have seen overall recoveries consolidate during the quarter to date, with detailed results to be announced in the Q4 production update in January 2021.
The operations team moved to a four-day working week on 4 November and can report:
-- Record concentrator recovery rates achieved in November of 40% WO(3) and 53% Sn.
-- Mine grade consistently exceeding 1,050ppm WO(3) and 350ppm Sn, which are significantly greater than the preceding three quarters.
-- Plant utilisation remains above 90%, which is encouraging noting the move to a four-day working week (24h per day over three shifts per day).
-- Tungsten and tin concentrate production to date exceeds total Q3 production of 77.6t.
-- As recoveries and production improves, plans are in place to move to a five-day working week, with minimal closure over the Christmas period.
-- Three 20t shipments of tungsten concentrate completed to date, with further shipments planned.
Pablo Neira, Managing Director of Iberian Resources Spain and La Parrilla Mine commented: "Following the improvements that led to such a strong September, I am greatly encouraged that this momentum has continued into Q4. These significant plant improvements together with accessing higher grade portions of the ore body are enabling us to build production rates each month as we work to increase concentrate production. We look forward to updating the market with the Q4 production update in January."
Noting the challenges of the past year, W is providing this interim project update as a one-off update in order to keep investors appraised of the positive progress and developments at the La Parrilla project.
Information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
Enquiries:
W Resources Plc Grant Thornton UK LLP Michael Masterman Colin Aaronson / Seamus Fricker c/o Alma PR T: +44 (0) 20 7383 5100 www.wresources.com Joint Broker Joint Broker Turner Pope Investments (TPI) Alternative Resource Capital / Ltd Shard Capital Andy Thacker / Zoe Alexander Alex Wood T: +44 (0) 203 657 0050 T:+44 (0) 20 7186 9004 www.turnerpope.com www.altrescap.com Damon Heath T:+44 (0) 20 7186 9952 www.shardcapital.com Alma PR Justine James T: +44 (0) 20 3405 0205 M: +44 (0) 7525 324431 wres@almapr.co.uk
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November 26, 2020 02:00 ET (07:00 GMT)
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