18th Apr 2016 09:12
LONDON (Alliance News) - W Resources PLC Monday said it saw strong metal recovery results for its La Parilla fast track mine in Spain from test work it conducted over the last quarter.
W Resources is a tungsten, copper and gold exploration and development company with assets in Spain and Portugal.
The company said that the results confirmed the coarse grain nature of the tungsten and tin mineralisation at La Parilla allows for "very efficient" gravity recovery at low cost. It will design its plan to optimise recovery with a production rate of 1,300 tonnes per year of concentrate and the in-built capacity to expand at "very low cost" to 2,600 tonnes per annum.
"As we make good progress at La Parrilla, we are pleased to see our plant design and mine development underpinned by strong 70% plus metal recoveries. These results underpin the low capital and operating cost of the project and pave the way for plant engineering which is now underway and we remain on track for first production by the end of 2016," said Chairman Michael Masterman in a statement.
Shares in W Resources were down 0.4% at 0.492 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
WRES.L