By Keith Collins

Mining company W Resources PLC said Wednesday that it drew 500,000 pounds ($654,000) from a GBP4 million convertible bond facility to provide a financial buffer against the impact from the coronavirus pandemic.

Chairman Michael Masterman said some of the funds would provide working capital for W Resources' La Parrilla tungsten operation in Spain.

The company said the tranche was drawn down from its unsecured Atlas Capital Markets facility, which is subordinated to the BlackRock Financial Management Inc. loan facility.

Write to Keith Collins at keith.collins@dowjones.com

(END) Dow Jones Newswires

August 05, 2020 04:42 ET (08:42 GMT)

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