17 May 2021 | 07:59am
StockMarketWire.com - Tungsten miner W Resources said it would raise £2.5 million from a share issue to lower the water level at its La Parrilla mine in Spain and regain access to higher-grade ore.
New shares in the company were offered at 8p each, with £2.26 million raise from new and existing investors.
Chairman Michael Masterman had committed to personally investing an additional £0.25 million. The majority of the funds raised from the Placing will be used to achieve the permanent solution to high water levels thereby giving access to higher-grade ore and significantly increasing tungsten and tin production at the La Parrilla mine as well as providing additional working capital to cover the ramp-up in production, the company said.
14 April 2021 | 09:36am
StockMarketWire.com - Tungsten and tin miner W Resources said quarterly output from its flaghsip La Parrilla mine in Spain had dropped 35%.
Production from the mine had fallen to 55.5 dry metric tons in the three months through March, down from 85.8 dry metric tones in the three months through December.
During the March quarter, the plant operated mostly on a five-day week for t10 of the 13 weeks in the period.
The company plans to return to a seven-day working week in the fourth quarter of 2021. The plant was closed for two weeks for planned improvement maintenance, however unseasonal heavy rain caused high water levels which halted production, resulting in the plant being closed for a total of three weeks, W Resources said.
Share price
10 March 2021 | 14:30pm
StockMarketWire.com - Mineral sands producer Sunrise Resources has confirmed the presence of significant silver mineralisation at its Clayton Silver-Gold Project in Nevada, USA.
The company advised that assay and analytical results have been received for drill core from its maiden drill hole, 20CLDD001 at the project.
It recovered core from a 7.92m mineralised interval graded 303 g/t (8.84 ounces/ton) silver and 0.2 g/t gold, including 4.27m interval grading 408 g/t (11.89 ounces/ton) silver and 0.23 g/t gold from a depth of 83.82m.
It found an 84% higher silver grade in hole 20CLDD001 compared to twinned 1980s-hole CL-15, which reported 7.62m grading 165 g/t silver (4.8 ounces/ton) and 0.4 g/t gold.
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