9th Aug 2021 16:06
W Resources PLC - tungsten, tin and gold mining company with assets in Spain and Portugal - Following access to higher-grade ore in late June, for July, concentrate production totals 68.1 tonnes, a 22% rise compared to June, as tungsten rose 43% month-on-month to 58.3 tonnes, but tin dropped 33% to 9.8 tonnes.
As a result, W Resources exceeds its monthly revenue milestone of USD1 million in July.
Looking ahead, tin production is expected to rise significantly in August as 5 tonnes of tin which fell below shipping spec from July's production is reprocessed for shipment in the electrostatic separator.
"We are delighted to report continued progress in production at La Parrilla in July, following the significant activity at the mine over the past months. Production for July is the highest to-date with tungsten concentrate production some 43% greater than June 2021. This is a trend we are seeing continue into August 2021 as we work towards reaching our target of 1,000t of concentrate in 2021," said Chair Michael Masterman.
Looking ahead, expects to achieve the upper end of its 2021 production guidance at between 800 tonnes and 1,000 tonnes of concentrate.
Current stock price: 7.70 pence
Year-to-date change: down 37%
By Dayo Laniyan; [email protected]
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