Tungsten supply, page-31

Found this on their website re last quarter's reporting. Thought it was interesting reading.

W Resources Plc

("W" or the "Company")

Q4 2021 andJanuary 2022Production Report and Finance Update

W Resources Plc(AIM:WRES), the tungsten, tin and gold mining company with assets inSpainandPortugal, announces its Q4 2021 andJanuary 2022production report for the La Parrilla mine inSpain.

Q4 Summary

· Tungsten recovery rate of 31% (Q3 2021: 58%)

· Tungsten concentrate grade of 64.8% WO₃(Q3 2021: 66.7%)

· Tungsten ("WO₃") concentrate production of 89.7 tonnes ("t") (Q3 2021:168.3t)

· Five shipments made - four tungsten concentrate (78t) and one tin ("Sn") concentrate (18t)

· Second water dam completed inNovember 2021

· Plant utilisation is at 73.7% compared to 87.1% in Q3 2021

Key Metrics

· A total of 240,597t of Run of Mine ("ROM") ore fed to the La Parrilla plant in Q4 2021

· Total tungsten WO₃and tin concentrate production of 104.8t

· Tungsten WO₃concentrate production of 89.7 dry metric tonnes ("dmt")

· Tin concentrate production of 15.1 dmt

La Parrilla Production Summary

Production in Q4 2021 was impacted by the following:

· Limited access to medium and higher-grade ore caused by a two week delay in blasting

· Delays in accessing medium and higher-grade ore as the open-pit was drained of water, now complete

· Heavy rain fall constrained the crushed ore operations, however, the crushed ore stockpile will resolve this issue

· Supply chain issues resulted in problems accessing some spare parts and whilst the situation is improving it still continues as we move into Q1 2022

Following the period end, the Company now has access to higher-grade portions of the La Parrilla ore bodies, the open-pit has been drained of water, an area has been cleared for the crushed ore stockpile and improving preventative maintenance is helping reduce processing challenges.