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/

Watch W Resources - Environmental Approval for La Parrilla Fast Track Mine

click here to watch

W Resources - La Parilla - watch the video here.

I'm continuing to hold this one., lots of good news to come over the coming months imho