W Resources PLC (LON:WRES), the tungsten, copper and gold mining company with assets in Spain and Portugal, has raised £756,000 via placing of just under 210mln new shares to new Spanish investors.
The money was raised at a price of 0.36p per share.
The funds raised will be used to advance development work at the Régua project and to provide additional working capital for the company.
"It's important to have the continued strong support of the Spanish investors at a time of volatility,” said W Resources chairman Michael Masterman.
“Funds will be used to advance the Régua mine and provide a strong base of working capital for W Resources"
The news follows the completion of the first blast at Régua last week.
The ramp up of production at the La Parrilla mine in Spain continues.
Separately, the company also announced the retirement of director Byron Pirola after 12 years on the board.