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W Resources Plc (AIM:WRES), the tungsten, tin and gold mining Company with assets in Spain and Portugal, has completed a placement of 28,278,610 ordinary shares of 0.1p per share ( Ordinary Shares ) at 8p per Ordinary Share to raise £2.26 million (the Placing ) before expenses to new and existing investors. Michael Masterman, W s Chairman, intends to participate and invest £250,000 on the same terms as the Placing, once the Company has published its accounts for the year ended 31 December 2020 and the Company is no longer in a closed period; this will increase the fundraising to c£2.5 million. The Company will publish its accounts in the coming weeks. ....
Tungsten recovery rates continue to improve and were around 50% during April, it said. Funds from the placing will also provide additional working capital to cover the ramp-up in production at La Parrilla. The AIM-quoted company raised £2.26mln before expenses through a placement of 28.3mln shares at 8p per share, a 13.5% discount to Friday’s closing price. Its chairman Michael Masterman also intends to participate and invest £250,000 on the same terms as the placing, once the company has published its accounts for 2020 and is no longer in a closed period, increasing the fundraising to around £2.5mln. W Resources plans to publish its accounts in the coming weeks. ....
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W Resources PLC (AIM:WRES) | RNS | W Resources PLC proactiveinvestors.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from proactiveinvestors.co.uk Daily Mail and Mail on Sunday newspapers.