(Image Resource: https://wresources.com/)
W Resources PLC is an AIM listed company that explores and develops mining projects in Spain and Portugal. The European mining company’s aim is to produce Tungsten which is a key metal with a strong market.
There are five projects under the company’s portfolio- La Parrilla, Régua, Tarouca, Monforte-Tinoca tungsten projects and the CAA / Portalegre / São Martinho.
The European mining company has focus on tungsten, building a world class tungsten company. The BlackRock funded project La Parrilla is one of the largest tungsten mines in the world and is based in Spain.
Tungsten is a metal that has high but tight supply, W Resources has an undisputed position is development and production of the metal. The company is predicted to be benefited from the rising prices of tungsten and forecasted supply shortages by 2013.
The Management Team of W Resources Board Complies to the Quoted Companies Alliance Corporate Governance Code (“Code”), providing annual updates to on it the last update was released on 27 September 2018.
W Resources has one Executive Director and four Non-Executive Directors in its board of directors. The Chairman of the company, Michael Masterman comes with rich experience in minerals exploration and development. The four Non-Executive Directors, Byron Pirola, David
Garland, Pablo Neria, James Argala has rich experience in the mining, financial and investment sectors. The management aims at providing effective leadership through timely Board meetings.
The Compensation Committee is comprised of two non-executive members, Dr Byron Pirola (Chair) and Mr David Garland, who meet once a year. The agenda of the committee is to provide recommendations to the Board on the senior Executives’ remuneration on the basis of prevailing market conditions and performance.
The Board of Directors effectively audits the internal controls and for reviewing their effectiveness and safeguard the assets of the Company. Internal controls are aimed at ensuring the reliability of external publication financial information.
As a mining and exploration company, W resources ensures that it complies to the local environmental regulations to protect the environment from potential harm.
The company is making great efforts with its shareholders to maintain good relationships. It shares extensive information about its activities and the same is sent to shareholders in the Annual Report. Data that is important to the market in nature is shared periodically with all shareholders in compliance with the company's AIM Rules.Shareholders are communicated with the information and can question the Board on any aspect. The corporate website is regularly updated with the latest information, so the communications from both its private and institutional shareholders are seamless.
The company has five projects under its portfolio, located in Spain and Portugal. The tungsten projects are La Parrilla is based in Spain.The CAA / Portalegre, Régua , Tarouca, and Monforte-tinoca copper project are located in Portugal..
The market forecast predicts that theLa Parilla’s production is strong and timely to meet the supply shortages. While the project Régua’s development is on full swing along with the copper and gold projects in Portugal.
The project is large, low-cost, long life Tungsten and Tin Mine and has Australasian Joint Ore Reserves Committee (“JORC”) compliant resources of total 49 million tonnes.The site is 3 km away from both the Atlantic and Mediterranean ports and lies along asphalts.
The production began in December 2018 and the development is on track. The mine produces 2,700 tonnes of tungsten.
Recently, the JORC Resource upgrade is completed with Maiden JORC Reserves and the key contracts is signed to the Jig & Mill, Concentrator and Crusher.
The Report on Financial Investment Decision reaffirmed the project as a massive, long-life, low-cost tungsten and tin mine.The project was funded by BlackRock in February 2018
This 5.46 million tonnes mt project is an Australasian Joint Ore Reserves Committee compliant mineral resource. The low cost mine has targeted on-track first ore in 2019. The company will be able to utilise its existing adits and the crushing plant, this will increase the production over 3,800 tpa. The ROM Regua mine has been shown to be beneficial to the economics of the sector. The deposit is open at depth and on all sides, with significant future potential.
According to the 2015 report the tungsten results is 0.5% WO3 and has an outstanding exploration target in north eastern. The programme includes consolidation of past campaign with a complex geological history.
The intersected surface has 50-metre depth with distinctive mineralisation surface. The complete result received in Q3 2018, on which the mineralised lenses are developed.
This will delineate the resource to increase the overall tungsten resource.
The project is 45km from Régua.
The project covers potential area of copper, gold, tin and tungsten exploration and development, located close to Portalegre copper-gold project. The project covers 496.19km² of high prospective copper area. The project has Tinoca and Azeiteiros former copper mines under it since July 2016
The geophysics surveys is completed on the copper zones using Polarisation / Electric Resistivity and Transient Electromagnetics and the RC drilling is also complete.
Prominent ores for Tungsten include Wolframite and Scheelite. This has some very distinctive features like it being the hardest element. It is also characterized by having the coefficient of expansion being the lowest and the highlight point on the other hand being the highest of all metals that are pure. It is represented by the alphabet W and also flaunts a high density. Given all these features which makes it very useful, it is utilized in a plethora of applications with are industrial and specialized.
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