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W Resources PLC raises £750,000 to push on at La Parrilla

W Resources is developing the La Parrilla project in Spain
W Resources PLC raises £750,000 to push on at La Parrilla
The placing was at 0.45p, a small discount to the close yesterday.

Tungsten, gold and copper junior W Resources PLC explorer (LON:WRES) has raised £750,000 through a share placing backed by its directors.

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%.

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