StockMarketWire.com - W Resources said it had formally signed an agreement with General de Maquinaria y Excavacion for the mining contract for its La Parrilla tungsten project in Spain.

The La Parrilla mining fleet was now in place, with three 60-tonne haul trucks, a Liebherr excavator and other auxiliary equipment on site.

The fleet would be gradually scaled-up in response to demand as ramp-up progressed.

Project construction completion remained in line with guidance, with completion of the Concentrator Plant expected this month and its commissioning expected in July.

'Following detailed negotiations, we are delighted to have awarded the mining contract for La Parrilla to GME who bring extensive experience in mining and processing,' chairman Michael Masterman said.

'Importantly, the contract is in line with our final investment decision report, which further underpins our confidence of achieving the low operating costs we have outlined.'

'The project remains within budget and we look forward to ramp-up to T2 of the project which will deliver significant earnings starting in 2019.'



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