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W Resources raises £100,000 from two directors

Masterman will now be interested in 21.77% of the capital, while Pirola will be interested in 6.13%
W Resources raises £100,000 from two directors
Two directors at W, including the chairman, have dug into their pockets

Chairman of W Resources PLC (LON:WRES) Michael Masterman and non-executive director Dr Byron Pirola participated in a placing at the same terms as one earlier this week, raising £100,000.

Masterman and Pirola subscribed for £50,000 worth of shares at 0.28p, via Symmall Pty Limited and  Beronia Investments Pty Ltd ATF Duke Trust respectively.

Masterman will now be interested in 21.77% of the capital, while Pirola will be interested in 6.13%

Earlier this week, W published a maiden statement of ore reserves at the La Parrilla tungsten/tin mine in Spain.

Based on the reserves of  29.7mln tonnes (mt) at 931 parts per million (ppm) tungsten trioxide (WO3) and 116 ppm tin (Sn), La Parrilla will have an eleven year mine life initially producing 2mln tpa (million tonnes per year) and rising to 3.5mtpa in 2020.

It also said it had raised £650,000 through a placing at 0.28p.

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