w resources plc (WRES:London)
w resources plc (WRES) Snapshot
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Open
1.25 GBp
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Previous Close
1.25 GBp
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Day High
1.25 GBp
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Day Low
1.25 GBp
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52 Week High
04/16/13 - 1.79 GBp
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52 Week Low
08/7/12 - 0.28 GBp
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Market Cap
22.8M
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Average Volume 10 Days
9.1M
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EPS TTM
-0.0001 GBp
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Shares Outstanding
1.8B
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EX-Date
--
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P/E TM
--
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Dividend
--
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Dividend Yield
--
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W Resources Plc engages in the exploration and development tungsten properties. The company has interests in the La Parrilla project, which consists of 3 mineral concessions covering 1,000 hectares and is located in the Extremadura region of southwest Spain; and owns a licence for the exploration of the São Martinho gold prospect that covers an area of 101.7 square kilometers and is located to the east of Lisbon, Portugal. It also has a 50% interest in Black Gold Inc, which has oil operations at the Barnett Lease in southern Kentucky. The company was formerly known as Caspian Holdings Public Limited Company and changed its name to W Resources Plc In July 2012. W Resources Plc was incorporated in 2004 and is based in London, the United Kingdom.
w resources plc (WRES) Key Developments
W Resources has secured key plant to construct the La Parrilla tailings processing facility at its La Parrilla site, located in southwest Spain. The overall facility at La Parrilla tailings comprises two components: a pre-concentration plant to handle and screen the ore and the concentration plant that will refine the tailings to the final tungsten product. The company has successfully acquired pre-concentration plant at an estimated installed cost of €350,000 from an existing facility in Spain. This pre-concentration plant will be installed at the La Parrilla tailings site over the next four to five months and has a rated capacity at twice the design capacity required. Procurement of the metallurgical components of the second phase of the concentration plant is also well advanced with orders placed for key long-lead equipment.
W Resources Plc announced exceptional results in the first phase of its Tarouca exploration programme. The 100% owned, 48 km² Tarouca exploration licence covers former tungsten and tin mines 140 km East of Porto in Portugal. The results from 98 surface samples (from outcrops and old mine works) have been received, showing some extremely high grade results with heavy mineralisation, including samples TR040: 5.42% WO3 and TR041: 3.73% WO3, with 31% of the samples having a grade higher than 0.1% WO3. Over 8% of the total samples assayed more than 1% WO3 which, to put in context is 10 times the grade of its La Parrilla mine. Overall there are three mineralised trends with their extensions yet to be determined. The next phase of the programme will consist of detailed mapping and sampling of old workings, mineral occurrences and mineralised outcrops, which will commence next quarter. With continued success in the early exploration programme will look to drill scout holes in the second half of 2013. Tarouca is complement to its tungsten development portfolio at La Parrilla (tailings and mine) and Régua (new mine development). The La Parrilla tailings project is on schedule for construction to start in the next quarter with planning and contracting in advanced stages. Resource estimation is underway for the La Parrilla mine and mine development options have advanced for a staged development of the Régua deposit.
W Resources Plc announced the final results of the drilling programme on the extension of its La Parrilla tungsten project, located in southwest Spain, in which it has an exclusive option to purchase a 100% interest. Assay results for the final two holes in the 11 hole La Parrilla extension drilling programme have been confirmed with key highlights including: 9.25 metres at 0.114% Tungsten Trioxide (WO3) in hole IP-10; 7.62 metres at 0.135% Tungsten Trioxide (WO3) in hole IP-10; 12.00 metres at 0.149% Tungsten Trioxide (WO3) in hole IP-11; and 15.25 metres at 0.132% Tungsten Trioxide (WO3) in hole IP-11. Holes IP-10 and 11 were drilled to final depths of 250.6 m and 201.4 m and are located 425 m and 125 m, respectively, to the northwest of the main ore body. The company has now completed the 11 holes of its extended drilling programme with the full weighted averaged results of final two holes, 10 and 11.
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| WRES:LN | 1.25 GBp | 0.00 | |
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Industry Analysis
WRES
Industry Average
| Valuation | WRES | Industry Range |
| Price/Earnings | NM | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | 6.3x |
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| Price/Cash Flow | NM | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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