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W Resources gets additional US$5M loan to advance La Parrilla, Regua mines

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W Resources gets additional US$5M loan to advance La Parrilla, Regua mines

Funds managed by the Global Credit Opportunities platform at BlackRock agreed to increase the loan facility provided to W Resources PLC by US$5 million.

The funding will ensure that the company has working capital to focus on ramping up the La Parrilla tungsten-tin mine in Spain and developing the Regua tungsten mine in Portugal.

La Parrilla has moved to 24-hour operations of the new concentrator plant, the company said Dec. 18.

The additional facility will increase the total outstanding BlackRock facility to US$49.1 million.

La Parrilla started producing salable tungsten and tin concentrate in late November after it finished building the concentrator.