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W Resources raises £776,000 to advance La Parrilla

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Tungsten-focused firm W Resources (LON:WRES) has raised £776,000 in a placing.

Chairman Michael Masterman said it provided the firm with the capital to drive La Parrilla into tungsten production and continue the momentum of the company's successful copper-gold and tungsten exploration at CAA / Portalegre and Tarouca.

The firm placed 97mln shares at 0.80p each - a slight discount to yesterday's closing price of 0.81p.

The placees include Symmall Pty Ltd as trustee of the Masterman Superannuation Fund of which Masterman is both a beneficiary and trustee, the firm noted, which subscribed for shares worth £180,000.

Following the placing, Masterman and related parties will be interested in around 771.5mln shares, or 35.32% of total voting rights.

Quick facts: W Resources PLC

Price: 0.31249 GBX

AIM:WRES
Market: AIM
Market Cap: £19.93 m
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on 2/5/19

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