W Resources secures new credit facility with CaixaBank
By Josh White
Date: Thursday 05 Dec 2019
(Sharecast News) - Spain and Portugal-focussed tungsten, tin and gold mining company W Resources has secured a new €0.5m revolving credit facility with Spanish banking firm CaixaBank, it announced on Thursday.
The AIM-traded firm said the facility would provide ramp-up working capital financing, as outlined in its announcement on 15 November.
It confirmed the Caixa facility was now in place, and funds had been drawn.
The company said it was in the process of negotiating additional facilities, with further announcements to be made in due course
"We are pleased to have secured a facility with one of Spain's leading banks," said chairman Michael Masterman.
"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."
At 1112 GMT, shars in W Resources were up 1.49% at 0.34p.
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