W Resources plc (LON: WRES) Chairman, Michael Masterman joins DirectorsTalk to discuss its La Parrilla mine development and Portugal update. Michael talks us through what has been happening at La Parilla, explains the 3 ramp up stages, updates us on Regua and other projects and lets us know what to look out for in terms of news flow.
With five projects in Spain and Portugal, W Resources plc has three tungsten projects: La Parrilla in Spain, Régua and Tarouca in Portugal; the CAA/Portalegre gold/copper project and Monforte-Tinoca copper project in Portugal.
La Parrilla is fully funded and development work is on track towards project completion in Q1 2019. The project is a large, low cost mine which is expected to deliver significant earnings growth in 2019.
Market conditions are strong and the development is well timed to meet emerging supply shortages. In parallel Régua development is advancing, we have good results from Tarouca and the fundamentals of the copper and gold projects in Portugal look increasingly compelling with the continued strengthening of commodity prices.