La Parrilla Scalable Development
3/7/2016
W Resources PLC | La Parrilla Scalable Development | FE InvestEgate
W Resources PLC
La Parrilla Scalable Development RNS Number : 1795R W Resources PLC 07 March 2016
7 March 2016
W Resources Plc ("W" or the "Company")
La Parrilla Scalable Development
W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, is pleased to provide an update on design and development planning for the La Parrilla Tungsten Project following completion of the initial engineering work in Germany. Metallurgical testing, plant design and expansion planning work has advanced with engineering consultants MBE Coal & Minerals Technology GmbH which has confirmed the La Parrilla plant can be executed in three phases: 1. Initial production will start with the Fast Track Mine ("FTM") at 1,300 tonnes per annum ("tpa") of concentrate, at an estimated cost of US$16m. The FTM is on track for first production in late 2016 2. The FTM will then be scaled up to 2,600 tpa at the low incremental cost of US$6.0m 3. The final Full Mine ("FM") will incorporate ore sorters and duplicate the processing plant expanding the capacity to 5,000 tpa The wide availability of crushing equipment in Europe has enabled W to design the initial FTM plant with higher installed equipment capacity whilst simultaneously achieving substantial cost savings. This allows the Company to install larger capacity from day one that will allow production to be rampedup by increasing the run hours of the installed equipment. Minor modifications are required to ensure sufficient surge capacity between the jig and concentrator plants remains available during the rampup phase of the project. The final expansion to 5,000 tpa of concentrate requires duplication of the preconcentration and final concentration circuits. The proposed threestage configuration allows for lowcost incremental expansion to supply the expected steady growth in the European, US and Middle East markets. Michael Masterman, Chairman of W Resources said: "La Parrilla is a very capital efficient project that can be quickly scaled to significantly higher production rates at low incremental expansion costs. Plans remain on track to complete the FTM in 2016. Within this design we have embedded the expansion capability to double capacity to 2,600 tpa through oversizing of the crusher and jigs circuit. The scalability of the project adds significant flexibility, NPV and optionality to La Parrilla. Development work is progressing on track and financing discussions for the first phase are advancing." http://www.investegate.co.uk/ArticlePrint.aspx?id=201603070700081795R
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3/7/2016
W Resources PLC | La Parrilla Scalable Development | FE InvestEgate
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
SI Capital Joint Broker Andy Thacker / Nick Emerson T: +44 (0) 1483 413500 www.sicapital.co.uk
Gable Communications Justine James T: +44 (0) 20 7193 7463 M: +44 (0) 7525 324431
Northland Capital Partners Joint Broker John Howes / Abigail Wayne (Corporate Broking) T: +44 (0) 20 7382 1100 www.northlandcp.co.uk About La Parrilla The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of CaceresBadajoz, approximately 310 km southwest of Madrid. The site has exceptional infrastructure in place, which is accessed directly from the highway along a 3 km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The mineral resource estimated by Golder in February 2016 at 0.04% WO3 cutoff grade is 51 million tonnes at 0.096% WO3 and 0.108 Sn, making it one of the largest tungsten deposits in the western world. Technical information in this report and on the W website has been prepared in accordance with the JORC Code and approved for inclusion by Mr Fernando de la Fuente, is a 'qualified person' in respect of the AIM Rules for Companies with over 41 years' experience in the Exploration and Mining Geology industry. Mr de la Fuente holds a B.Sc. in Geology and an MSc in Geology from the University of Granada in Spain. He is also a member of the Spanish College of Geologists (Number 49), the Spanish Society of Mineralogy, founder member of the Spanish Society of Geology, member of the Spanish Association of Applied Geology to Mineral Deposits, member of the Society for Mining, Metallurgy and Exploration, Inc., member of PDAC.
This information is provided by RNS The company news service from the London Stock Exchange END MSCKMGGFNVDGVZM
http://www.investegate.co.uk/ArticlePrint.aspx?id=201603070700081795R
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W Resources PLC | La Parrilla Scalable Development | FE InvestEgate
W Resources PLC
La Parrilla Scalable Development RNS Number : 1795R W Resources PLC 07 March 2016
7 March 2016
W Resources Plc ("W" or the "Company")
La Parrilla Scalable Development
W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, is pleased to provide an update on design and development planning for the La Parrilla Tungsten Project following completion of the initial engineering work in Germany. Metallurgical testing, plant design and expansion planning work has advanced with engineering consultants MBE Coal & Minerals Technology GmbH which has confirmed the La Parrilla plant can be executed in three phases: 1. Initial production will start with the Fast Track Mine ("FTM") at 1,300 tonnes per annum ("tpa") of concentrate, at an estimated cost of US$16m. The FTM is on track for first production in late 2016 2. The FTM will then be scaled up to 2,600 tpa at the low incremental cost of US$6.0m 3. The final Full Mine ("FM") will incorporate ore sorters and duplicate the processing plant expanding the capacity to 5,000 tpa The wide availability of crushing equipment in Europe has enabled W to design the initial FTM plant with higher installed equipment capacity whilst simultaneously achieving substantial cost savings. This allows the Company to install larger capacity from day one that will allow production to be rampedup by increasing the run hours of the installed equipment. Minor modifications are required to ensure sufficient surge capacity between the jig and concentrator plants remains available during the rampup phase of the project. The final expansion to 5,000 tpa of concentrate requires duplication of the preconcentration and final concentration circuits. The proposed threestage configuration allows for lowcost incremental expansion to supply the expected steady growth in the European, US and Middle East markets. Michael Masterman, Chairman of W Resources said: "La Parrilla is a very capital efficient project that can be quickly scaled to significantly higher production rates at low incremental expansion costs. Plans remain on track to complete the FTM in 2016. Within this design we have embedded the expansion capability to double capacity to 2,600 tpa through oversizing of the crusher and jigs circuit. The scalability of the project adds significant flexibility, NPV and optionality to La Parrilla. Development work is progressing on track and financing discussions for the first phase are advancing." http://www.investegate.co.uk/ArticlePrint.aspx?id=201603070700081795R
1/2
3/7/2016
W Resources PLC | La Parrilla Scalable Development | FE InvestEgate
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
SI Capital Joint Broker Andy Thacker / Nick Emerson T: +44 (0) 1483 413500 www.sicapital.co.uk
Gable Communications Justine James T: +44 (0) 20 7193 7463 M: +44 (0) 7525 324431
Northland Capital Partners Joint Broker John Howes / Abigail Wayne (Corporate Broking) T: +44 (0) 20 7382 1100 www.northlandcp.co.uk About La Parrilla The La Parrilla project site is situated in the Extremadura region of southwest Spain, in the Provinces of CaceresBadajoz, approximately 310 km southwest of Madrid. The site has exceptional infrastructure in place, which is accessed directly from the highway along a 3 km asphalt road and is serviced by electricity and water. The project comprises a tungsten mine and a tungsten tailings project. The mineral resource estimated by Golder in February 2016 at 0.04% WO3 cutoff grade is 51 million tonnes at 0.096% WO3 and 0.108 Sn, making it one of the largest tungsten deposits in the western world. Technical information in this report and on the W website has been prepared in accordance with the JORC Code and approved for inclusion by Mr Fernando de la Fuente, is a 'qualified person' in respect of the AIM Rules for Companies with over 41 years' experience in the Exploration and Mining Geology industry. Mr de la Fuente holds a B.Sc. in Geology and an MSc in Geology from the University of Granada in Spain. He is also a member of the Spanish College of Geologists (Number 49), the Spanish Society of Mineralogy, founder member of the Spanish Society of Geology, member of the Spanish Association of Applied Geology to Mineral Deposits, member of the Society for Mining, Metallurgy and Exploration, Inc., member of PDAC.
This information is provided by RNS The company news service from the London Stock Exchange END MSCKMGGFNVDGVZM
http://www.investegate.co.uk/ArticlePrint.aspx?id=201603070700081795R
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