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5 Dec 2019 07:00
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5 December 2019
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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 wres@almapr.co.uk |
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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.
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