W Resources (WRES) , the AIM-listed tungsten, tin and gold miner, on Thursday started production of tungsten and tin concentrate at its La Parrilla mine located in Spain.
W Resources said it was on-track in achieving its target of 2 million tonnes per annum run-of-mine, to produce 2700 tonnes of WO3 concentrate.
The company told investors that it is now producing tungsten and tin concentrate in line with the La Parrilla standard concentrate specifications, with initial tungsten concentrate grades meeting the shipment criteria levels, set to improve as the plant reaches steady-state production.
Shares in W Resources were trading 12.5% higher at 0.36p during Thursday morning
Michael Masterman, Chairman of W Resources commented: "We have now reached this significant milestone at La Parrilla as we commence commercial tungsten and tin production and have achieved stable operating plant performance.”
“We are pleased with initial concentrate production grades, which we anticipate will continue to improve as we move up the ramp-up curve and transition to 24-hour plant operations in December."
The plant is currently running on day shifts, and W Resources said first shipments to customers from the new concentrator are scheduled for December.
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