W Resources is a new tungsten and gold player focused in the safe operating enviroment of spain and portugal, and in relative quick time the company have assembled some solid assets with both near and long term revenues targeted. The company has no current gearing ( no debt ) and also has a current income from its 50% share of oil revenues via Black Gold Inc in Kentucky which covers the company,s administration costs. ( W Resources was previously focused entirely in oil and gas ). With the closing of many of the worlds tungsten mines during the chinese export flood of recent times there is now a significant opportunity for tungsten miners outside of china to fill demand in western markets as china restricts exports.World tungsten prices have more than doubled since the start of 2010 .The company is listed on london AIM market using the epic WRES .



Spain : ( La Parrilla )

In late 2011 / early 2012 the company aquired the La Parrilla tungsten mine located in south west Spain which has been described by leading consultants SRK as hosting "one of the largest tungsten deposits in the western world " and have wasted no time in moving forward with their plans. Also of note at La Parrilla is a very sizable Tailings resource, in which the company have devised a detailed and costed plan to provide immediate revenue sources estimated to deliver €7million per annum in revenue.Ths is based on Annual plant feed of 330,000 tonnes and annual production is anticipated to be 28,000 MTU Tungsten (W) and 26 tonnes Tin (Sn). The tailings project is expected to be in production in early 2013.

The tailings project will then self fund the larger project at the main La Parrilla mine where the recent drilling results have far exceeded expectations and point towards a highly commercial resource of high grade tungsten with low cost / high margin returns. 6 holes have been drilled and logged to date and thus far proved that vast extensions of the main mine resource are present. La Parrilla has excellent existing access and infrastructure in place which will add to commercial profitabilty and aid the projection of nearterm revenues.



Fig 1 - Map Location of La Parrilla





Portugal : ( Portalegre )

In late may 2012 the company announced the acquisition of Australian Iron Ore Plc (AIO) and its 100% owned subsidiary Iberian Resources Portugal Recursos Minerais Unipessoal LDA (IRP).

These new tungsten development and exploration assets in Portugal complement the near term tungsten production and exploration at La Parrilla in Spain and provide an additional opportunity in gold exploration. Since the aquisition the company have set to work and already returned some excellent drilling results on the gold licence. The assay results so far include intercepts of 4 metres with 1.75 grams gold per ton, 4 metres with 1.68 g/t, 2 metres with 1.14 g/t and 6 metres with 4.4 g/t gold, at depths from near-surface to 100 metres.

As a result of the acquisition of AIO, the company now own / have rights to four tungsten projects and the prospective Portalegre gold exploration property . Access and infrastructure in the area is excellent and well developed .



Fig 2 - Completed and proposed drill locations




Assets Summary :

· 100% ownership of the La Parrilla tailings deposit targeting first production Q1 2013

· 100% ownership option of the La Parrilla mine currently concluding extension drilling

· 100% ownership of the high grade Régua tungsten deposit

· 100% ownership of the Tarouca tungsten exploration licence

· 100% ownership of the two Portalegre gold exploration licences


About Tungsten and Outlook :

Tungsten is another metal that China dominates when it comes to production. In the 1980s and 1990s china flooded the market with its-low cost production, driving down the price and driving producers in the rest of the world out of operation. Since 2010, the price has jumped to about US$445 per tonne from US$250 per tonne and market analysts have forecasted that tungsten prices will remain bullish for many years to come due to shortage of supply outside china and the raw material now being classed as a " strategic mineral " by many governments around the world.

Tungsten finds common usage in cutting tools as well as in the aerospace industry, military applications and consumer electronics.

Over the last few years China has been restricting exports to conserve resources for future domestic needs and has also forced illegal mining operations to shut down.The outlook for tungsten miners and producers outside of china looks very promising over the next decade and with tungsten now finding its way into many new tech & medical products the demand will only increase.





All company news can be found here

http://www.wresources.co.uk/category/investors/w-news/


Full details of La Parilla Mine

http://www.wresources.co.uk/projects/la-parrilla/la-parrilla-mine/

Full details of La Parrilla Tailings project

http://www.wresources.co.uk/projects/la-parrilla/la-parrilla-tailings/

Full details of Portalegre

http://www.wresources.co.uk/projects/portalegre/


Information here courtesy of Stockopedia ( see link below )

http://www.stockopedia.co.uk/content/w-resources-new-tungsten-player-68289/

minerales,i see you spotted the juice :-)

looks very good jazz

minerales,their results showed they are very careful with cash and for the
amount spent have some world class tungsten assets now. This could really
do good things in my opinion.

minerales,their results showed they are very careful with cash and for the
amount spent have some world class tungsten assets now. This could really
do good things in my opinion.

Jazz its opened abit lively this morning, but cant get a buy quote online ??

minerales,be patient or put an order in mate,although there is a fair few shares
in issue the directors and others hold nearly 70% of company so sometimes you
cant buy in volume.

jazz,i had to place an order but did get some,funny thing is they still only
offering a max of 500k shares with my broker.Do you think some large buy
orders being filled mate?

Took another 250k here this morning :-)

It looks like every week a new resource hot stock in touted.
This is yet another but with some substance - as always 30% increase is reserves.
The news was updated after hours so someone must have known before close and managed to pump it up. Does it have legs? time will tell. interesting

jazz i think something about to kick off here,can only buy 50k of shares????

tailings approval could be about to be announced as they said end of october and
even in the presentation on the 18th they said IMMINENT.

minerales, you could be spot on there with that....i just tried to buy and was only able
to get quote for 50k of shares too without negotiation.For a sub penny stock they
seem to be holding this very tightly indeed. Expect an RNS

Former Caspian Holdings look an interesting prospect following the news of licence extension. One to keep an eye on!!!

I'm in on that news this morning,,,,,,,,this company has truned itself around IMO,,,,,DYOR

wow i wonder if 1p is on the cards?

I need 2p so hope for a steady climb.,.

balerboy,transco,clog, you guys should have got in at 0.29p like me,its called getting max bang for your buck!

lol son - i got in 0.25!!!!!!!! it was caspian then. clever clogs

That's some discount, 0.70p
2517

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I'm in as of this morning! onwards and upwards!