W Resources (WRES.L), the tungsten producer with assets in Spain and Portugal announced its La Parrilla tungsten mine in Spain produced just over 168 tonnes of tungsten concentrate which contained 11,229 mtu of tungsten as well as 12.5 tonnes of tin after processing about 280,000 tonnes of rock. That’s lower than expected as the company estimates it lost about 40 tonnes of tungsten concentrate (about 2,500-2,700 mtu of tungsten) due to technical issues with LNG generates at the mine site. This problem has been solved and as W Resources is now connecting the plant to the power grid, these issues should no longer occur.
The strong tungsten production was helped by an increase in the average recovery rate, from 47% in Q2 to 58% in Q3? But the tin recovery rate decreased from 27% to 23%. But that’s fine as tin is trading close to $40,000/t so even though only 12.5 tonnes of tin were recovered during the quarter, it still resulted in a by-product credit of around half a million dollar, and this should increase as the production at La Parrilla will increase again.
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