W Resources advances on strong drill results in Spain

Shares in W Resources soared over 20 per cent after the mining company announced strong results from drilling on the La Parrilla tungsten project in south-west Spain.

Shares in W Resources soared over 20 per cent after the mining company announced strong results from drilling on the La Parrilla tungsten project in south-west Spain.

The group successfully completed the drilling of the extension of the La Parrilla ore body.

Results included eight metres at 0.29% tungsten trioxide, which is three times the average grade of the project.

Three holes, located between 200 metres and 640 metres from the main ore body, were drilled to depths between 200 metres and 250 metres, showing a positive outcome from the programme.

The company aims to complete a Joint Ore Reserves Committee (JORC) resource estimate for the La Parrilla in the second quarter of the year and is making progress towards first production in the second half.

"The board continues to be encouraged by the results on the extension drilling programme, with the process of further delineating a more significant increase in both the grade and tonnage of the resource at La Parrilla nearing completion," Chairman Michael Masterman, said.

"Drilling has been completed on budget and on schedule and we expect positive results from the re-estimation of the resources incorporating these results."

RD

Recommended

Has the “jam tomorrow” bubble popped already?
Stockmarkets

Has the “jam tomorrow” bubble popped already?

Fund managers have had a good year so far. John Stepek looks at what to expect from markets until year end.
6 Dec 2021
Three stocks that should profit from the dash for digital growth
Share tips

Three stocks that should profit from the dash for digital growth

Professional investor Christopher Versace of the Digital Infrastructure and Connectivity UCITS ETF picks three digital growth stocks to buy now.
6 Dec 2021
JD Wetherspoon: why investors should head to the pub
Trading

JD Wetherspoon: why investors should head to the pub

Pub group JD Wetherspoon is a solid operator, and is due a bounce when the pandemic eases. Matthew Partridge picks the best way to play it.
6 Dec 2021
Share tips of the week – 3 December
Share tips

Share tips of the week – 3 December

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
3 Dec 2021

Most Popular

Bubbles grow in global property markets as house prices continue to rise
Property

Bubbles grow in global property markets as house prices continue to rise

House prices grew by 6% in the year to mid-2021 in 25 global cities, with the German property market in particular showing signs of overheating.
3 Dec 2021
Investing in time
Sponsored

Investing in time

SPONSORED CONTENT – Watch collecting can be addictive and expensive, but it can also be a very sound investment strategy
3 Dec 2021
Three safe bets on the growing online gambling sector
Share tips

Three safe bets on the growing online gambling sector

Professional investor Aaron Fischer, creator of the Fischer Sports Betting and iGaming ETF, picks three of his favourite online gambling stocks.
29 Nov 2021