- W Resources, the tungsten, copper and gold, production, exploration and development company, has completed a placement of 300 million ordinary shares at 0.5p per share to raise £1.5 million.

The placing enables W to accelerate development on its Portuguese projects, in particular at the Regua and Tarouca Tungsten projects in Northern Portugal, and also consider other significant entry stage metal opportunities.

Regua will be prepared for trial mining through 2018 as key approvals and land access are now securely in place. Tarouca infill drilling will target defining high grade zones which would be integrated into the Regua plant development which is approximately 20km away.

The high grades at both these projects offer opportunities to further increase W tungsten production going into 2019.

At 9:29am: [LON:WRES] W Resources PLC share price was -0.06p at 0.53p

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