Weatherly International Plc Regulatory News (WTI)

Weatherly International plc ('Weatherly' or the 'Company')

Central Operations Update - Forward Sales of Copper

On 27 September 2010 Weatherly announced that its wholly owned subsidiary, Ongopolo Mining Limited ('Ongopolo'), had entered into an offtake agreement with Louis Dreyfus Commodities Metals Suisse S.A. ('Louis Dreyfus Commodities'). As announced, this agreement contains a hedging framework under which Ongopolo can elect at any time to forward sell up to 35% of its anticipated output over a period of 18 months. 

Weatherly is pleased to announce that Ongopolo has entered into a forward sales contract with Louis Dreyfus Commodities for 975 tonnes of contained copper to be delivered progressively over an 18 month period at a fixed price of US$9,260.25/tonne.

As previously announced concentrate production is expected to commence in mid February and the first delivery under the forward sale contract is scheduled for the end of April. This contract represents approximately 10% of anticipated production over the period of the contract.

Commenting on the agreement Rob Webster, Chief Executive Officer, said: "The Board will continue to monitor mine output and copper prices and may take further advantage of the facility to forward sell up to the allowed maximum of 35% output. Our philosophy is to manage risk as best we can, which includes selling forward some of Weatherly's production to guarantee minimum levels of revenue, particularly during the critical start up period"

 For further information please contact:

Rod Webster, Chief Executive Officer Weatherly International Plc

+44 (0) 20 7917 2989

Samantha Harrison / Jen Boorer, Ambrian Partners Limited

+44 (0) 20 7634 4700

 Carina Corbett, 4C Communications Limited+44 (0) 20 3170 7973