W Resources receives long-awaited grant from Extremadura government
“With tin prices up 100% in the last six months, strong tungsten prices and materially improved plant performance we expect a strong second half of 2021, said chairman Michael Masterman
W Resources PLC (LON:WRES), owner of the La Parrilla tungsten and tin mine in southwest Spain, said it has received a previously announced grant from the Junta de Extremadura government.
The grant, initially awarded in March 2018 for the sum of €5.3mln (£4.6mln) has, subject to one amendment, been paid and total proceeds of €5.2mln have been received as settlement in full.
In February 2020, the AIM-quoted company received a €5m loan from Banco Santander SA to monetise the grant and this has now been repaid, it said.
W Resources makes key hire for La Parrilla We are making good progress this month and have already shipped 40t of tungsten concentrate and 19.3t of tin concentrate, with further shipments confirmed in the coming weeks, said Michael Masterman Image source: @WResourcesPlc / Twitter
W Resources PLC (LON:WRES) announced a new hire, plant manager for the La Parrilla project, and also updated on recent concentrate shipments from the mine.
The company noted that it has made three shipments in the quarter to date and a fourth is scheduled later this month.
It made two 20 tonne shipments of tungsten concentrate and one 19.3 tonne shipment of tin concentrate. The April 30 shipment will be 20 tonnes of tungsten concentrate.
Investegate |W Resources PLC Announcements | W Resources PLC: La Parrilla Management Team and Shipments Update investegate.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from investegate.co.uk Daily Mail and Mail on Sunday newspapers.
La Parrilla Management Team and Shipments Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has appointed Mr. Jesus Martin as Plant Manager at the La Parrilla tungsten and tin project in Spain.
Jesus will bring more than 40 years of experience operating metallurgic and gravimetric plants, mostly on tungsten and tin projects in Spain, including: Rodalquilar, Los Santos, Penouta and most recently the Barruecopardo tungsten mine in Western Spain.
The senior La Parrilla management team includes Pablo Neira - Managing Director (Spain), Juan Garcia Valledor - Mine Manager and Jesus Martin - Plant Manager. This appointment strengthens the management team at a key stage in the production ramp up at La Parrilla.
W Resources make key La Parrilla appointment | 23 April 2021 stockmarketwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from stockmarketwire.com Daily Mail and Mail on Sunday newspapers.