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 near completion.

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
Jig Installation - La Parrilla - March 2019

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
Provable28,57792826,5111113,156

Financial & Technical

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