WRES W Resources Plc

TIDMWRES

RNS Number : 2586C

W Resources PLC

12 April 2017

12 April 2017

W Resources Plc

("W" or the "Company")

Jig and Mill Contract Including Vendor Finance Awarded to allmineral

W Resources Plc (AIM:WRES), the tungsten, copper and gold exploration and development company with assets in Spain and Portugal, has awarded the Design and Construct Contract for the La Parrilla Jig and Mill to allmineral Aufbereitungstechnik GmbH & Co. KG of Germany ("allmineral") at a contract price of EUR4.98m. allmineral is providing vendor finance for just under 50% of the contract price on very competitive terms.

The Jig and Mill is a core component of the La Parrilla plant infrastructure which upgrades the crushed ore by a factor of 1.5 to achieve an expected 91% metal recovery prior to concentration by efficiently rejecting 55% of Run of Mine ("ROM") feed at coarse sizes. It is designed to accept feed at a rate of 350tph and has been designed to allow rapid expansion of La Parrilla from 1.95mtpa to 3.5mtpa ROM.

The twin jig and twin mill circuit provides flexibility for operations going forwards. The design ensures robust metallurgical efficiency with the ability to scalp out barren ore from the feed prior to jigging and also to provide finer liberation sizes prior to final gravity concentration, if required. Unique to the design, 100% of the fines are collected in the jig circuit and pumped to the gravity circuit for recovery and not discarded to tailings.

Michael Masterman, Chairman of W Resources commented: "The award of the Jig and Mill contract is a critical component of the development of the large scale La Parrilla Tungsten and Tin mine. We are very pleased to award this contract to allmineral under attractive finance terms. We have built a cooperative relationship to agree both the technical and commercial terms and we look forward to completing construction."

As previously announced on 19 January 2017, W has applied for grants from the Extremadura Regional Government in Spain and this process is ongoing in line with the application process.

Engineering, procurement and financing of the other La Parrilla plant components is advancing and we will update the market with each material development.

Enquiries:

 
W Resources Plc               Grant Thornton UK LLP 
 Michael Masterman             Colin Aaronson / Harrison 
 T: +44 (0) 20 7193 7463       Clarke 
 www.wresources.co.uk          T: +44 (0) 20 7383 5100 
SI Capital                    Gable Communications 
 Andy Thacker / Nick Emerson   Justine James 
 T: +44 (0) 1483 413500        T: +44 (0) 20 7193 7463 
 www.sicapital.co.uk           M: +44 (0) 7525 324431 
 

The information contained within this RNS is considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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