9th Jan 2020 10:44
(Alliance News) - W Resources PLC said Thursday it has sold the first shipment of tungsten concentrate from the new La Parrilla concentrator plant in Spain, the proceeds of which were received in January.
The miner said production at La Parrilla built up through December, with the move to 24-hour operation. As a result, production in the fourth quarter of 2019 was 21.4 tonnes of tungsten concentrate and 7.9 tonnes of tin concentrate, which is planned to "ramp-up substantially" in the first quarter of 2020.
W Resources expects production to build substantially in the first quarter of 2020 with a full three months of production and higher-than-expected tin production and revenue.
Chair Michael Masterman said: "We are pleased to have produced nearly 30 tonnes of tungsten and tin concentrate combined and sold and banked proceeds from our first tungsten shipment from the new concentrator plant."
W Resources shares were up 3.0% in London at 0.31 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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