Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Drilling cheers W Resources

By Robert Tyerman

8 May 2015 07:12

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Tungsten play W Resources (WRES) is celebrating ‘excellent’ drilling results from its Regua project in northern Portugal, as the company seeks environmental approval later this year for its flagship operation over the border at La Parrilla in south-west Spain’s Valladolid Province. After intercepting 6.3 metres at Regua with 0.47% W03 tungsten trioxide and 5.38 metres with 0.25% W03, WRES says it has also hit grades of 0.7% W03 and cites bulk samples showing assays of up to 1% W03.

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Comments

TOOBAD

8 May 2015, 08:55

Dear Robert,

Just pointing out that La Parrilla is in the Extremadura region of Spain, the relevant province is Badajoz/ Caceres (Valladolid being in North Western Spain).

WRES Market cap at .29p is nearer £10m than £6.7m.
TOOBAD

8 May 2015, 09:24

Robert,

Can you confirm whether the $25m debt figure for La Parrilla was confirmed to you by the company directly? as currently shareholders are expecting $46m capex costs for the open mine (from the March 2015 presentation, although I note that was given as a preliminary figure and subject to review).

Thanks in advance
TOOBAD

20 May 2015, 06:08

Dear Robert,

I have checked with the company and they advise that the $25m debt figure you mention in your article is your speculation and not a figure from the company. I think that should be made clear in your article.
TW Note - Robert stands by his notes from the meeting