StockMarketWire.com - W Resources said it had secured a funding package of around €2.8m to advance the ramp-up of its La Parrilla tungsten and tin mine in Spain to design capacity.

The funding would also provide working capital to supplement the company's existing cash resources of around €155k.

An initial amount of €1.36m had been secured through an equity placement of £289k at 0.4p and loans from directors of £344k.

Blackrock had agreed that an additional 50% of a November interest payment, amounting to $700k, could be added to an existing debt facility.

Work was advanced but not yet concluded on the second tranche, which was an additional debt facility from either existing or new bank or finance providers of a minimum of €1.0m.


At 3:48pm: [LON:WRES] W Resources PLC share price was +0.02p at 0.36p



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