3rd Dec 2018 12:33
LONDON (Alliance News) - W Resources PLC on Monday reported the first shipment of tungsten concentrate from its La Parrilla mine, located in north-western Spain.
The mining company said La Parrilla is currently at the early stage of the production and is expected to be build into the full producing mine in the first half of 2019.
"We are delighted to have delivered our first shipment of tungsten concentrate to our European customer on Friday last week," said Chairman Michael Masterman.
"W Resources has now commenced the first of a three-stage production programme which allows the company to generate revenue and cash flow ahead the move to large scale production in 2019 at a planned run rate of 2,500 tonnes per annum of tungsten concentrate. Export shipment size will build through December and the new year," explained Masterman.
W Resources shares were trading 4.9% higher on Monday at 0.55 pence a share.
Related Shares:
WRES.L