W Resources PLC says it expects to complete fundraising early this week


The AIM-listed company’s cash level was lower than expected due to a difficult fourth quarter

W Resources PLC (AIM:WRES) said a previously announced fundraising round is expected to be completed early this week.

Discussions regarding the fundraising, which is expected to be in the form of debt, are at a very advanced stage, the tungsten, tin and gold mining company said.

Last week, the AIM-listed company said it needed to raise funds “at very short notice” after its cash position fell short of expectations due to a difficult fourth quarter.

READ: W Resources to take on new debt after tough fourth quarter

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