W Resources PLC Board Change and Management Update (5914O)
11 October 2021 - 05:00PM
UK Regulatory
TIDMWRES
RNS Number : 5914O
W Resources PLC
11 October 2021
11 October 2021
W Resources Plc
("W" or the "Company")
Board and Management Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining
and exploration company with assets in Spain and Portugal,
announces that Executive Director, Mr Pablo Neira will step down
from the Board with effect from 18 October 2021.
Pablo Neira will leave the Company in order to pursue an
opportunity outside the mining industry managing a Spanish private
fund based in Madrid.
Pablo became Managing Director of W's Spanish subsidiary,
Iberian Resources Spain, SL ("IRS") and Executive Director of W in
November 2020, having been previously a Non-executive Director of
the Company and has played a key role in strengthening the
Company's performance and developing a strong and independent
management team at La Parrilla.
The management team has already taken on certain operation
responsibilities from him, including Jesus Martin who has been
appointed Operations Manager with Marcos Lindo as Mine Manager and
Juan Garcia Valledor now Head of Environmental, Health &
Safety. Jesus is responsible for all aspects of running and
managing the mine at La Parrilla with the finance function
continuing to be managed by the finance team at the plant, who will
now report directly to Paul Hailes, CFO, who will visit La Parrilla
monthly.
As of 1 September 2021, Paul's role as CFO transitioned from a
part-time to a full-time basis. His role will now encompass the
interface between the management team at La Parrilla and the W
Board where he will take on the civil, legal and corporate
governance responsibilities for IRS until a new Managing Director
of IRS has been appointed.
The Company is currently interviewing potential candidates for
the position of Managing Director of IRS and the new appointment
will be announced in due course.
The expanded IRS management team based at the La Parrilla mine
has made great progress over the past month and combined with W's
management team will ensure La Parrilla remains on track to achieve
its production targets in the months ahead.
Mr Michael Masterman, Chairman of W, commented : " Since Pablo's
appointment in 2018 as a Non-Executive Director and his move to an
executive role in 2020 his leadership has had a substantial impact
on the development, performance and productivity at the La Parrilla
mine. As a valued member of the team we wish him well in his new
role and thank him for building such a strong management team,
which has been central to our progress this year at La
Parrilla."
Pablo Neira, commented: " I am pleased with the progress and
achievements at La Parrilla Mine in Spain and the management team
have made great progress over the past months. In my new role
however, I am unable to continue on the Board. When this
opportunity presented itself, it was one I could not turn down. I
remain very supportive of the project and fantastic team and I look
forward to witnessing its ongoing success."
Enquiries:
W Resources Plc Grant Thornton UK LLP
Paul Hailes Colin Aaronson / Harrison Clarke
investor@wresources.com / Lukas Girzadas
www.wresources.com T: +44 (0) 20 7383 5100
Alternative Resource Capital / Shard Alma PR
Capital Justine James
Alex Wood M: +44 (0) 7525 324431
T:+44 (0) 207 186 9004 wres@almapr.co.uk
www.altrescap.com
Damon Heath
T:+44 (0) 207 186 9952
www.shardcapital.com
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END
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