W Resources PLC (LON:WRES) Turner & Pope Investments PDF & Video

W Resources (WRES) is currently focused on near-term production from its wholly-owned La Parrilla tungsten and tin mine located in southwest Spain.

The Company is in the final construction stage of the new large-scale concentrator plant and has already commissioned the new crusher and jig plants. The newly commissioned crusher and jig plants are now operating at near design capacity. As such, we expect the Company will be able to ramp-up production during Q3 2019.



  • Fully funded, low capital intensity with a long mine life
  • Tungsten outlook: increased demand to drive APT prices
  • Promising pipeline of projects in Portugal
  • Valuation: SOTP at 1.07p per share (un-risked)

Company description
WRES is a production, exploration and development company with several tungsten projects including the past-producing
La Parrilla tungsten mine in south-western Spain and the Régua tungsten exploration project in Portugal.

The Company also has a tin (and tungsten) exploration project at Tarouca as well as a gold exploration prospect at Portalegre, both located in Portugal.

WRES is also developing the São Martinho gold project in Portugal with a current JORC-compliant resource of 3Mt grading 1.04g/t Au and is currently working on an updated resource update.

WRES is currently focused on ramping up production of the La Parrilla project during its initial T2 development (up to 2Mtpa) in Q3 2019, followed by an increase to 3.5Mtpa during the T3.5 development phase in 2021


PDF Download Link WRES_note.pdf


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