European tungsten miner delists from AIM

25th May 2022 By: Creamer Media Reporter

Tungsten, tin and gold mining company W Resources on Wednesday announced the delisting of its shares from trading on AIM and said that it would seek a relisting on a stock exchange in future, should circumstances allow.

Trading in W Resources’ shares was suspended on April 5, owing to the impact of the uncertainties caused by the high liquid natural gas prices that placed an excessive cost burden on the La Parrilla mine, in Spain, with the further impact of the ongoing truck drivers dispute, which caused a shortage of critical spare parts.

On April 25, the company announced that Grant Thornton had resigned as its nominated adviser with immediate effect. Pursuant to AIM rules, a company’s trading is cancelled within one month of a company ceasing to have a nominated adviser.