W Resources (WRES LN) 0.46p, Mkt Cap £27.7m – Mining contract keeps La Parilla on track
• W Resources has awarded a mining contract for its La Parilla tungsten operation in Spain to local contractor, General de Maquinaria y Excavation (GME). The company plans to ramp up production at La Parilla to 2mtpa during the “T2” phase of the project and increase throughput further to 3.5mtpa from year 3.
• The company confirms that “Development at La Parrilla is progressing well and project construction completion remains in line with guidance for completion of the Concentrator Plant in June … … commissioning of the Concentrator Plant also remains on plan for July”.
• Welcoming the award of the mining contract and the overall progress at La Parilla, Chairman, Michael Masterman, also confirmed that “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”.