La Parrilla

La Parrilla is funded, with offtake agreements in place targeting first ore in Q1 2019

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

The development towards first ore in Q1 2019 at La Parrilla remains a key focus, now that the financing and key contracts are all in place. Development work is underway targeting first ore and ramp-up in Q1 2019 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.

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.

Highlights

  • Large scale: 4.9 million mtu
  • Low cost: US$94/mtu
  • Long life: 11+ years
  • Fast track: Q1 2019

Location

Provinces of Caceres-Badajoz in the Extremadura region of southwest Spain approximately 310km southwest of Madrid
La Parrilla - location map
La Parrilla location map

Reserves

CategoryTonnes '000Grade WO3 (ppm)Metal Content WO3 (t)Grade Sn (ppm)Metal Content Sn (t)
Total29,75493127,6831163,451
Proven1,1779951,171251295
Provable28,57792826,5111113,451

Financial & Technical

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