William Resources Inc. Advances Velardena Project with Senior Management Appointments and Processing Plant Acquisition

Strategic Insights -

William Resources Inc., a natural resource company listed on The Toronto Stock Exchange under the symbol WIM, has made significant progress in the development of its silver/gold Velardena project in Mexico with the appointment of two experienced mining professionals to the project management team and the acquisition of a processing plant. The appointments of Douglas Duke and Francisco Ramos as managers for the construction and preproduction development of the Velardena project will provide a strong and experienced team to oversee the project. The recent purchase of a processing plant will enable the project to start production in April 1996 at the targeted rate of 400 tonnes of ore per day, with the processing rate to be increased to 600 tonnes of ore per day by early 1997.

Key Takeaways:

  • William Resources Inc. has appointed two experienced mining professionals, Douglas Duke and Francisco Ramos, to the project management team for the Velardena project in Mexico.
  • The appointments will provide a strong and experienced team to oversee the project and ensure that it is completed on time and on budget.
  • The company has acquired a processing plant that will enable the project to start production in April 1996 at the targeted rate of 400 tonnes of ore per day.
  • The processing rate will be increased to 600 tonnes of ore per day by early 1997, approximately 12 months earlier than originally anticipated.
  • The processing plant will feature a crushing plant, a grinding circuit, a 600 tonne per day leach circuit, and a 600 tonne per day flotation circuit.
  • The plant components are being refurbished and modularized in Vancouver before being shipped to Mexico.
  • William Resources Inc. is a natural resource company with a diverse portfolio of projects, including the Velardena project, the Sabara gold property in Brazil, and a gold project in South Africa.
  • Stan Bharti, President of William Resources Inc., notes that the appointments of Duke and Ramos will provide the company with a strong and experienced management team.

Statistics:

  • The Velardena project is expected to start production in April 1996 at a rate of 400 tonnes of ore per day.
  • The processing rate will be increased to 600 tonnes of ore per day by early 1997, approximately 12 months earlier than originally anticipated.
  • The company has acquired a processing plant with a capacity to handle 600 tonnes of ore per day.

Sources:

  • Business Wire. "William Resources Inc. Advances Velardena Project with Senior Management Appointments and Processing Plant Acquisition." October 10, 1995.
  • William Resources Inc. Press Release. "William Resources Inc. Advances Velardena Project with Senior Management Appointments and Processing Plant Acquisition." October 10, 1995.