W Resources #WRES 0.19p, Mkt Cap £13m – Impact of Covid19
W Resources reports its response to the Spanish and Portuguese Governmentsʼ States of Emergency to address the Covid19 virus.
The company reports that the Extremadura Region where it operates the La Parilla tungsten mine ʺis one of the less affected areas in Spain. At present, there are some 100 reported cases of infection in the region. With no areas showing a heavy concentration of cases save for a small village which is subject to quarantine at present. The region's low population density and the large distances between big cities has helped to reduce the speed of transmission.ʺ
W Resources also confirms that none of its personnel have been diagnosed with the infection and that it has implemented a range of precautions, including separation of shifts, operating a work-from-home regime where possible and the restriction of all but essential visits to the La Parilla site, to mitigate the risk of exposure.
Similar measures are in force at the company’s Portuguese operations where W Resources has also requested ʺan extension of the trial mine license period for a further 12-18 monthsʺ which the company expects to be approved in the context of the current disruption to normal business conditions.
Stressing the company’s commitment to the welfare of its personnel during these challenging times, Chairman, Michael Masterman said that ʺWe continue a proactive review of steps to protect our team and in a safe and sensible way continue operationsʺ.