La Parrilla

La Parrilla is producing, with development work funded and off-take agreements in place

Commodity

Tungsten trioxide and tin

Ownership

100% W Resources, acquired 2013

Mine Type

Mining licence. Open pit mine initially

Project Background

La Parrilla is a large scale, low-cost, long life Tungsten and Tin Mine.

The project has an Australasian Joint Ore Reserves Committee (“JORC”) compliant resources total 49 million tonnes (“mt”) at a grade of 998 parts per million (“ppm”) tungsten trioxide (“WO₃“) and JORC compliant reserves of 29.8mt at a diluted grade of 931ppm WO₃.

With its core infrastructure in place, the site is accessed directly from the highway along a 3km asphalt road and is serviced by electricity and water. Importantly, the mine is located within a short trucking distance from both the Atlantic and Mediterranean ports.

Development

Production started in December 2018 and with financing and key contracts all in place, development work is on track. The ramp-up phase, to mine 2 mtpa of Run of Mine and produce approximately 2,700 tonnes of tungsten concentrate and 500t of tin (Sn) concentrate per annum, is expected from Q2 2019.

Key Milestones

JORC Resource upgrade completed with Maiden JORC Reserves, further underpinning the strong fundamentals of La Parrilla
Key contracts awarded for the Jig & Mill, Concentrator and Crusher
Financial Investment Decision Report reaffirmed the project as a large, long life, low-cost tungsten and tin mine
US$35m debt funding completed with BlackRock in February 2018
Grant of €5.3m from Extremadura Regional Government to W’s 100% owned subsidiary, Iberian Resources Spain SL in March 2018
Offtake agreements secured with European and US customers
Initial Production commenced in December 2018