(Alliance News) - W Resources PLC, a tungsten, tin and gold mining company with assets in Spain and Portugal, on Thursday said it has secured a new EUR500,000 revolving credit facility with Spanish Bank CaixaBank SA.
The company, which operates the La Parrilla tungsten project in Spain, also said that it has drawn the entire CaixaBank loan and is in the process of negotiating additional facilities.
W Resources Chair Michael Masterman said: "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."
W Resources shares were down 0.3% at 0.33 pence each in London on Thursday afternoon.
By Tapan Panchal; tapanpanchal@alliancenews.com
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