Tungsten explorer W Resources has awarded the design and construction contract for the jig and mill for its La Parrilla tungsten project in Spain.
W Resources is paying €4.98m for the core component of the plant infrastructure at the project. The plant is expected to have 91% metal recovery rates and it can be expanded to handle 3.5mt a year. Grants are being applied for but the process with the regional government is still ongoing.
Last month, the company raised £750,000 at 0.35p a share. At the current price of 0.33p a share, W Resources is valued at £15.1m.
There are plans to spin off the company’s gold and copper assets into a separately quoted company.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds