WRES W Resources Plc

TIDMWRES

RNS Number : 5682F

W Resources PLC

10 March 2020

10 March 2020

W Resources Plc

("W" or the "Company")

R é gua First Mine Blast, La Parrilla Update

Dr Byron Pirola Retires as Director

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, is pleased to provide an update on progress at Régua in Portugal and La Parrilla in Spain, its two most advanced mining operations. The Company also announces that after 12 years as a Director, Dr Byron Pirola will retire from the W Resources Plc Board on 30 March 2020.

Régua, Portugal

The first blast at the Régua mine in Northern Portugal was safely and successfully completed last week. Mining operations have been underway since February and the first blast signifies an important milestone for the project. The blast opens up the RL240m adit zone which will cover 122 metres prior to intersecting ore. The ore will be trucked to the Crusher Plant which will be located in a nearby aggregate quarry for initial processing.

Engineering and procurement is advanced for construction of the Régua plant. In addition to existing spirals, pumps and screens on-site, a new VSI mill (Vertical Shaft Impactor) has been procured from Spain.

La Parrilla, Spain

Ramp-up is progressing and the mine continues to deliver the scheduled grades of tungsten and tin ore to the plant at low waste-to-ore strip ratios. As part of the ramp up process, a series of improvement initiatives were successfully implemented during a planned shutdown in February 2020 and as a result the Company has seen a material step change improvement in recoveries and overall production rates at the La Parrilla plant in March 2020.

A full update on La Parrilla production for the March quarter and further guidance in relation to developments at Régua will be provided in April 2020.

Michael Masterman, Chairman of W, commented : "It is very important to have a safe and successful start to our mining operation at Régua. The portal to the underground mine is now open and we will progress trial mine operations over the next two months."

Dr Byron Pirola Retires as Director

After 12 years as a Director, Dr Byron Pirola will retire from the W Resources Plc Board on 30 March 2020. Dr Pirola intends to retain his core shareholding in the Company.

Mr Michael Masterman, Chairman of W, commented : "Byron has been a fantastic Non-executive Director contributing to the strategic and financial direction of the Company and maintaining a strong shareholding investment. We will miss Byron from the Board but are very pleased he plans to continue as a strong core shareholder."

Dr Byron Pirola, commented: "Following many years on the Board of Directors, I am pleased to leave it in a strong position with an expanded board, and our key asset in production ramp-up. While my increasing business demands mean I will be unable to continue to give my Board duties the attention they require, in resigning from the Board, I remain a strong supportive shareholder of the Company and look forward to its ongoing success."

Enquiries:

 
 W Resources Plc                  Grant Thornton UK LLP 
  Michael Masterman                Colin Aaronson / Seamus Fricker 
  T: +44 (0) 20 7193 7463          T: +44 (0) 20 7383 5100 
  www.wresources.com 
 Joint Broker                     Joint Broker 
  Turner Pope Investments (TPI)    Alternative Resource Capital / 
  Ltd                              Shard Capital 
  Andy Thacker / Zoe Alexander     Alex Wood 
  T: +44 (0) 203 657 0050          T:+44 (0) 207 186 9004 
  www.turnerpope.com               www.altrescap.com 
                                   Damon Heath 
                                   T:+44 (0) 207 186 9952 
                                   www.shardcapital.com 
 Alma PR 
  Justine James 
  M: +44 (0) 7525 324431 
  wres@almapr.co.uk 
 

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END

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