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W Resources PLC (WRES)

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Wednesday 10 January, 2018

W Resources PLC

Concentrator Contract awarded

RNS Number : 4237B
W Resources PLC
09 January 2018
 

 

 

 

 

 

 

 

10 January 2018

 

 

 

W Resources Plc

("W" or the "Company")

 

Concentrator Contract awarded to allmineral

 

W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, has awarded the design and construct contract for the La Parrilla Concentrator to allmineral Aufbereitungstechnik GmbH & Co. KG of Germany ("allmineral") at a contract price of c€8 million.

The Concentrator is the third core component of the La Parrilla plant infrastructure, following the contract awards for the Crusher and Jig & Mill last year, and provides the final stage of beneficiation in the process to produce a 66% tungsten concentrate and 62% tin final concentrate. The robust design put forward by allmineral targets maximum separation efficiency throughout and actively collects the fines generated from various processing stages to be reprocessed in a dedicated scavenging circuit. The layout considers the potential requirement for incremental capacity additions as well as the possibility of an ultrafine falcon circuit addition to maximise recoveries in the future.

Michael Masterman, Chairman of W Resources commented: "The award of the Concentrator to allmineral is a significant milestone and a core part of the development and financing programme for La Parrilla. All major plant components are now contracted and aligned with the US$30 million term loan financing. Germany's allmineral is responsible on a fixed schedule and price contract for delivery of the both the Jig & Mill and Concentrator providing important integration benefits in project delivery."

Enquiries:

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.co.uk

Grant Thornton UK LLP

Colin Aaronson / Jen Clarke / Harrison Clarke

T: +44 (0) 20 7383 5100

Turner Pope Investments (TPI) Ltd

Andy Thacker

T: +44 (0) 203 621 4120

www.turnerpope.com

Gable Communications

Justine James

T: +44 (0) 20 7193 7463

M: +44 (0) 7525 324431

 

About W

In 2012, W Resources Plc (AIM:WRES) made the successful transition into a tungsten production exploration and development company with projects in Spain and Portugal, following two acquisitions. Projects now include La Parrilla, a tungsten project in Spain and Régua and Tarouca Tungsten projects and the Portalegre copper-gold project in Portugal.

The Company's deposits and tungsten mine developments offer a low cost, high margin resource development opportunity. Tungsten and Tin prices have increased significantly over the last 12 months and Tungsten is in the EUs top 5 critical metals list.

The Board is focused to explore further opportunities in the region with a view to building a mid-tier minor metal producer.

The Company was incorporated in England and Wales in 2004.

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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