W Resources PLC Corporate and EUR 5.3 m Grant Update (6453L)
09 Septiembre 2019 - 4:02AM
UK Regulatory
TIDMWRES
RNS Number : 6453L
W Resources PLC
09 September 2019
9 September 2019
W Resources Plc
("W" or the "Company")
Corporate and EUR 5.3 m Grant Update
W Resources Plc (AIM:WRES), the tungsten, tin and gold mining
company announces that it will release its results for the six
months to 30 June 2019 on Monday 30 September 2019.
With completion of the plant construction (RNS 29 August 2019),
the Company has now satisfied the two major conditions required to
apply for the EUR5.3m Grant from the Junta de Extremadura. The two
conditions are minimum investment in plant and equipment of EUR
16.6m and the creation of at least 20 full time positions, and we
are thus progressing documentation to formally apply to receive
this Grant.
During the half year and subsequently, as previously
disclosed:
-- Caja Rural de Extremadura provided a loan of EUR3m at 3%
interest rate against the previously awarded EUR5.3m Grant, from
the Junta de Extremadura Government (RNS 9 May 2019)
-- BlackRock Financial Management Inc. agreed to capitalise the
last two interest payments of the BlackRock term loan, which
equated to US$1.29m, and was added to the final loan balance (RNS 7
August 2019)
At 30 June 2019, cash at bank was EUR801,148, and the Spanish
VAT receivable was EUR1,002,996.
The information communicated within this announcement is deemed
to constitute inside information as stipulated under the Market
Abuse Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries:
W Resources Plc Grant Thornton UK LLP
Michael Masterman Colin Aaronson / Seamus Fricker
T: +44 (0) 20 7193 7463 T: +44 (0) 20 7383 5100
www.wresources.com
Joint Broker Joint Broker
Turner Pope Investments (TPI) Ltd Alternative Resource Capital /
Andy Thacker Shard Capital
T: +44 (0) 203 657 0050 Alex Wood
www.turnerpope.com T:+44 (0) 207 186 9004
www.altrescap.com
Gable Communications Damon Heath
Justine James T:+44 (0) 207 186 9952
T: +44 (0) 20 7193 7463 www.shardcapital.com
M: +44 (0) 7525 324431
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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