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W Resources PLC - Finance Update

RNS Number : 7348V
W Resources PLC
05 December 2019
 

 

5 December 2019

 

 

W Resources Plc

("W" or the "Company")

Finance Update

W Resources Plc (AIM:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, confirms it has secured a new €500,000 revolving credit facility with leading Spanish Bank; CaixaBank, S.A ("Caixa") providing ramp up working capital financing outlined in the Company announcement on 15 November 2019.

The Caixa facility is in place and funds have been drawn.

The Company is in the process of negotiating additional facilities and further announcements will be made in due course

Chairman, Michael Masterman commented: "We are pleased to have secured a facility with one of Spain's leading banks. The Caixa facility allows us to further reduce the average cost of funds of our debt facilities and provide solid working capital support for the ramp-up of La Parrilla."

Enquiries:

W Resources Plc

Michael Masterman

T: +44 (0) 20 7193 7463

www.wresources.com

 

Grant Thornton UK LLP

Colin Aaronson / Seamus Fricker

T: +44 (0) 20 7383 5100

 

 

Joint Broker

Turner Pope Investments (TPI) Ltd

Andy Thacker

T: +44 (0) 203 657 0050

www.turnerpope.com

Joint Broker

Alternative Resource Capital / Shard Capital

Alex Wood

T:+44 (0) 207 186 9004

www.altrescap.com

 

Damon Heath

T:+44 (0) 207 186 9952

www.shardcapital.com

Alma PR

Justine James

M: +44 (0) 7525 324431

[email protected]

 

 

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: W Resources PLC

Price: 0.145

Market: AIM
Market Cap: £9.72 m
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W Resources PLC 's (LON:WRES) chairman Michael Masterman and Pablo Neira, who oversees the spanish operation, discuss with Proactive its second quarter production report for La Parrilla. Run-of-mine feed into the plant reduced by 7% compared to the first three months of 2020, to total 253,256...

2 weeks, 6 days ago