Share Talk spoke with Michael Masterman, Chairman of W Resources Plc (AIM:WRES) today from Spain. He talks about the company being awarded the Design and Construct Contract for the La Parrilla Jig and Mill to allmineral Aufbereitungstechnik GmbH & Co. KG of Germany (“allmineral”). Updates about his meeting with the W Resources Plc team in country.
Share Talk spoke with Michael Masterman, CEO of Saffron Energy today. We look into the company receiving the final approval from the Italian Ministry of Economic Development (UNMIG) for gas production at the Bezzecca gas field on 11 April 2017. Commissioning and gas production will commence in the coming days.
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 €4.98m. allmineral is providing vendor finance for just under 50% of the contract price on very competitive terms.
After today’s Initial Public Offering and successful acquisition of its assets in Italy we discuss why the company was able to acquire the producing assets. We talked about the listing on the AIM market and why it was unloved on the ASX market under its former name of Po Valley Energy. We speak about current production, the near term additional production plans and bringing a third well into production by the end of the year.