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"The loan provides a solid reserve of working capital at this pivotal point of development as the company advances the ramp-up of the T2 phase of the La Parrilla mine to design capacity," W Resources said.
The €5.3 million grant announced in March last year is about 32% of the company's €16.6 million plant and facilities package for La Parrilla, with W Resources also
securing a US$35 million loan from BlackRock. La Parrilla is planned to be the largest tungsten mine in Europe.
W Resources'current focus is on commissioning the site's jig and mill, and finishing the concentrator.
W Resources' shares (AIM:WRES) are trading around 0.45p (US0.58c), down from 0.54p at the start of the year.
