W Resources granted approval by Mining Department of the Junta de Extremadura

Gold miner W Resources has announced that the La Parrilla tailings project located in southwest Spain has been granted approval by the Mining Department of the regional authority of the Junta de Extremadura.

Gold miner W Resources has announced that the La Parrilla tailings project located in southwest Spain has been granted approval by the Mining Department of the regional authority of the Junta de Extremadura.

The project is expected to come into production in the second half of 2013, with annual plant feed in the region of 330,000 tonnes, annual production anticipated to be 28,000 metric tonne unit Tungsten and 26 tonnes of tin.

Construction of the processing plant located to the south east of the La Parrilla site will commence in the first quarter of 2013 and the capital cost is estimated to be €1.3m, for which the board are currently evaluating financing options.

Mr Michael Masterman, Chairman of W Resources said: "This is an important milestone for W, as the La Parrilla tailings project is on course to deliver tungsten production within two years of the Company acting on its new strategic direction. The company has received one indicative offer for financing the La Parrilla tailings, which is currently under evaluation."

The share price rose 8.75% to 0.43p by 14:55.

NR

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