W Resources (LON: WRES) Chairman Michael Masterman joins DirectorsTalk to discuss its La Parilla update. Michael explains the significance of the blast, the volumes that will be produced and what we can expect over the coming months until full production.
Year end note: W Resources – La Parrilla – Spain
La Parrilla is a large-scale, low-cost, long-life tungsten and tin project, located approximately 310km southwest of Madrid. It has Australasian Joint Ore Reserves Committee compliant resources totalling 49 million tonnes at a grade of 998 parts per million of tungsten trioxide (“WO3”) and JORC compliant reserves of 29.8mt at a diluted grade of 931ppm WO3.
The project is on target to mine 2 million tonnes per annum of Run of Mine and produce approximately 2,500 tonnes of tungsten concentrate and 200t of tin concentrate per annum. With completion of development work imminent, the timing coincides well with continued strengthening in the European Ammonium paratungstate price.