Tungsten, copper and gold mining company W Resources has appointed two Madrid-based directors, Pablo Neira and James Argalas, as nonexecutive directors.
Neira brings over 30 years of international experience specialising in managing listed industrial manufacturing companies and family office direct investments in Spain and internationally. He is currently with Casa Grande de Cartagena, family office of significant shareholders of Ferrovial involved with direct investments. He was CEO of Urbar Ingenieros, a listed industrial group that manufactures equipment for multiple sectors, including raw materials, minerals and quarries; as well as turn-key waste treatment plants.
Argalas has extensive experience in the financial and investment sectors. He is currently a director of BOFI Holding, a publicly traded branchless bank listed in the Nasdaq with a market cap of $2.3-billion, and Presido Union.
"As W Resources transitions to a significant tungsten producer, the appointment of Pablo Neira and James Argalas to the board comes at a time when their significant industrial and financial experience will provide valuable counsel, insight and support and we welcome them to the board and look forward to working with them. Both James and Pablo are based in Madrid and bring real time Spain based networks and financial and operational capability to the W Resources team,” commented W chairperson Michael Masterman.
W is advancing the La Parilla mine, in Spain, Phase 1 of which involves the T2 project, which will be a two-million-tonne-a-year run-of-mine operation producing 2 700 t/y of tungsten concentrate. Phase 2 is the T3.5 project, which will expand operations to 3.5-million tonnes a year to produce 4 000 t/y of tungsten concentrate.
The company also owns the the São Martinho, Monforte-Tinoca and Portalegre projects in Portugal, but indicated in April that it is considering spinning off or selling its copper and gold projects to focus on copper.