W Resources is developing the La Parrilla project in Spain, where tungsten production at a "fast-track mine" is scheduled for late 2016 at an estimated cost of US$16mln.
The junior is also exploring for gold at São Martinho and elsewhere in Portugal for tungsten at Regua and Tarouca.
The placing was at 0.45p, a small discount to the close yesterday.
Michael Masterman, chairman, is putting up £75,000 and David Garland, another director, £25,000.
Following the placing Masterman’s stake will rise to 24.5% and Garland’s 0.14%.