21st Oct 2021 11:39
W Resources PLC- tungsten, tin and gold mining and exploring in Spain and Portugal - Says third quarter saw best performance to date at La Parrilla mine in Spain, with tungsten production up 58% quarter-on-quarter to 168.3 tonnes, but says production was hit by "number of challenges" which resulted in an estimated production loss of around 40 tonnes of tungsten concentrate.
"A number of power outages were caused by technical problems with the LNG generators. This has been resolved by the supplier after isolating the cause of the stoppages," it says.
Chair Michael Masterman adds: "Q3 2021 was our best performing quarter to date, and we expect to see this growth continue as we head towards the end of the year. Notwithstanding a number of challenges towards the end of the quarter, the result is testament to the management team at the La Parrilla mine which reacted quickly to minimise any disruption.
"Work continues apace and the La Parrilla team has a clear focus on increasing production and efficiencies as the reality of continuous production becomes the norm."
Current stock price: 7.08 pence, down 9.3% on Thursday
Year-to-date change: down 42%
By Paul McGowan; [email protected]
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