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W Resources secures US$35mln loan with BlackRock to fully fund La Parrilla

Michael Masterman, chairman of W Resources PLC (LON:WRES), tells Proactive they've secured a US$35mln loan which fully funds the La Parrilla mine development.

BlackRock Financial Management is providing the loan, which will have a five year schedule term (with the option for early repayment) and it has an average interest rate of 12.6%.

The lender will also receive an upfront fee as well as share warrants.

Quick facts: W Resources PLC

Price: 0.32 GBX

AIM:WRES
Market: AIM
Market Cap: £20.41 m
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W Resources aims for large-scale production after first T2 mine blast at La...

W Resources PLC (LON:WRES) chairman Michael Masterman tells Proactive Investors about the first T2 mine blast at the La Parilla Tungsten Project in western Spain, successfully shot on April 30, 2019.    Masterman said the event was significant for the company and represented...

on 2/5/19

2 min read