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Caspian Holdings

  • BY: Andrew Hore |
  • POSTED: 26/06/2012 |

Caspian Holdings is raising £439,000 at 0.325p a share in order to finance the construction of the metallurgical plant at the La Parrilla tailings project in Spain and progress its drilling programmes.

Michael Masterman, the company’s chairman, and related interests own 53.1% of Caspian. In the previous six months Caspian had raised £670,000 to finance the development of La Parrilla.

Caspian is acquiring Australian Iron Ore (AIO) for €1m in shares issued at 0.3p each. Caspian bought the La Parrilla project from AIO, whose other assets in Portugal include an exploration permit for the Régua tungsten deposit, an exploration licence for tungsten and tin at Tarouca and two gold prospects.

Caspian is one-third of the way through 3,000m of drilling on the gold prospects.

Caspian is changing its name to W Resources.

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