logo-loader
viewW Resources PLC

W Resources begins application process for €5.3mln from Spanish regional government

The company has satisfied the two major conditions required to apply for the grant: completion of the plant with €16.6mln invested and at least 20 full time positions created

W Resources PLC -

W Resources PLC (LON:WRES) has begun the formal application process to receive a €5.3mln grant from the regional government in Extremadura, Spain. 

The AIM-listed company said it has satisfied the two major conditions required to apply for the grant: completion of the plant with €16.6mln invested and at least 20 full time positions created.

W Resources will release its results for the six months to 30 June on 30 September, a period that saw it take out a loan of €3m from Caja Rural de Extremadura at 1.75% interest rate against the previously awarded €5.3m grant.

During the first half, BlackRock also agreed to capitalise the last two interest payments of the BlackRock term loan, equating to US$1.29mln, which was added to the final loan balance.

As of 30 June, cash at bank was €801,148, and the Spanish VAT receivable was just over €1mln.

--Amends with correct interest rate for €3mln loan--

Quick facts: W Resources PLC

Price: 0.355 GBX

AIM:WRES
Market: AIM
Market Cap: £22.07 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of W Resources PLC named herein, including the promotion by the Company of W Resources PLC in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Investor Update: W Resources updates on first concentrate from La Parrilla...

Headlines from the Proactive UK newsroom. W Resources (LON:WRES) says commissioning and ramp-up activities at La Parrilla are continuing at pace with all components of the Concentrator Plant now commissioned. Over five tonnes of tungsten concentrate has been produced which will be purified...

4 days, 14 hours ago

2 min read