W Resources PLC - London-based tungsten, tin and gold mining company with assets in Spain and Portugal - Expects the approved EUR5.3 million Junta de Extremadura government grant to be received by the end of the first half of 2021 after meeting all conditions required for receipt of the grant.
Adds it has agreed to a six-month extension to its EUR5 million loan facility with Banco Santander SA that was initially taken out last February. Says the loan facility will allow it to monetise the majority of the EUR5.3 million grant, which it expected to receive in 2020. Loan has an interest rate of 3.5% per annum that is payable quarterly with no amortisation, and is secured by a pledge over the rights to the grant funds.
Current stock price: 0.11 pence
Year-to-date change: down 8.2%
By Zoe Wickens; zoewickens@alliancenews.com
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