W Resources Plc (LON:WRES) Chairman Michael Masterman talks to DirectorsTalk about a maiden 3 million tonne gold resource at its São Martinho Gold Deposit. Michael explains what this means for W Resources, the potential for the project and the next steps involved.
W Resources Plc made the successful transition into a tungsten exploration, production and development company with projects in Spain and Portugal, following two acquisitions in 2012. Projects now include La Parrilla, a tungsten project in Spain and Régua and Tarouca Tungsten projects and the CAA / Portalegre copper-gold project in Portugal. The Company’s deposits and tungsten mine developments offer a low cost, high margin resource development opportunity due to a strong market following for Tungsten, increased trading and a forecast shortage of supply. The price of tungsten has more than doubled in past three years and is in the 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.