Michael Masterman, chairman of junior tungsten miner W Resources (LON:WRES), says the firm has two exceptional tungsten mines which have the potential to make very good returns for shareholders.

 

At the Régua project in northern Portugal, indicated resources now stand at 3.76 million tonnes at 0.304% tungsten trioxide - a 76% increase on the previous figure of 2.14 million tonnes at  0.367% WO₃ from three years ago.

 

Meanwhile the company is forging ahead with its plans to produce first tungsten from La Parrilla in Spain later next year.

 

A mine study in June confirmed two phases of development - firstly, a fast track mine, using the existing concentrator plant from the tailings project to produce at a rate of 1,200-1,300 tonnes per annum and 110 tonnes of  tin concentrate from mid-2016.

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