StockMarketWire.com - W Resources has reduced its FY pretax loss to GBP0.61m, from a loss of GBP0.64m. Revenue was GBP82,000, from GBP0.96m.

Highlights:

· La Parrilla Mine: a 2,900 metre ("m") drilling programme led to a new Joint Ore Reserves Committee ("JORC") compliant mineral resource estimate indicating an increase of 16% in contained tungsten tri-oxide ("WO3")

· W exercised the option to fully acquire La Parrilla and made all option payments and has full title to La Parrilla Mining Concession, as 100% titleholder and owner

· Régua: extension drilling delivered significant high-grade results which were incorporated into an updated JORC mineral resource estimate indicating a significant 76% increase in the indicated resource tonnage

· Completed a successful 1,058 m exploration drilling campaign at CAA / Portalegre, and signed an agreement which increased the project exploration licence by 101.7 km² to 289.75 m² incorporating the highly prospective São Martinho gold project

· Trench sampling at Tarouca showed high-grade tungsten results with 15 out of 126 samples exceeding 0.5% WO3, including 0.8m at 11.4% WO3 (TTR063)

· Funding: raised £3.8 million through placings during 2015




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