W Resources Plc (AIM:WRES), the tungsten, copper and gold, exploration and development company with assets in Spain and Portugal, has awarded the crusher plant contract for its La Parrilla Project in Spain to Metso Minerals Portugal, Lda (“Metso”), a subsidiary of Metso Corporation for EUR1.2m.
As quoted in the press release:
Michael Masterman, Chairman of W Resources commented: “It is great to have agreed the crusher contract award with Metso, a world leading supplier based in Europe. We appreciate it has taken a little bit longer than anticipated, but this is often the unpredictable nature of contract negotiations. Importantly we believe the results in terms of design, quality, price and delivery time will speak for themselves. “Tungsten prices have increased nearly 25% over the last 12 months with momentum building over the last month which is timely for the development of La Parrilla. Debt financing continues to advance with planned debt financing completion in the second half of 2017 (RNS 14 June 2017).”