W Resources (LON:WRES), the tungsten, tin and gold mining company with assets in Spain and Portugal, has confirmed it has secured a new €500,000 revolving credit facility with leading Spanish Bank; CaixaBank, S.A providing ramp up working capital financing outlined in the Company announcement on 15 November 2019.
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.”
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