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Trading Update

7 Nov 2014 07:00

RNS Number : 4162W
Weatherly International PLC
07 November 2014
 



7 November 2014

Weatherly International Plc

("Weatherly" or "the Company")

Trading Update

 

Weatherly International Plc (AIM: WTI) today announces a trading update on progress at its Tschudi copper mining project in Namibia.

 

Highlights

 

· The Company has commenced mining and is currently stockpiling ore

· The first leach pad is close to completion

· Commissioning of the crushing and agglomeration plant due in December 2014

· Placement of ore and irrigation with sulphuric acid expected in January 2015

· Commissioning of the SX-EW plant expected during the first quarter of 2015

· First copper production at Tschudi is, as planned, expected during the second quarter of 2015

 

The Company's Annual General Meeting will be held at the offices of Morrison & Foerster (UK) LLP, 7th Floor, CityPoint, One Ropemaker Street, London EC2Y 9AW at 11:00 on Friday 7th November 2014.

 

The Chairman, John Bryant, will make the following statement at the AGM:

"I am pleased with the progress made at Tschudi and I am delighted to tell shareholders that we remain on track to produce our first copper in the second quarter of 2015.

"In the recent weeks we have continued to make significant advances with the development of the plant especially the leach pads and that we have now agreed timescales for the commissioning of the SX-EW plant and the crushing and agglomeration plant.

"Perhaps the most visible evidence of the steps that we have taken is the fact that we are now mining our first ore at Tschudi.

"I am sure shareholders will want to join me in congratulating Rod Webster and our excellent team in Namibia on the way they are bringing Tschudi towards completion."

 

For further information please contact:

 

Weatherly International Plc +44 (0) 20 7917 2989

Rod Webster, CEO

Kevin Ellis, CFO & Company Secretary

 

RFC Ambrian Limited +44 (0) 20 3440 6800

(Nominated Adviser & Broker)

Samantha Harrison

Finncap +44(0)2072200514

(Joint Broker)

Joanna Weaving

 

Blytheweigh +44(0)2071383204

(Financial PR)Tim Blythe / Halimah Hussain

 

 

About Weatherly

Weatherly is an AIM listed copper mining company operating in Namibia in southern Africa. Its principal assets are two underground copper mines, Otjihase and Matchless, and a larger open pit development called Tschudi scheduled to come on stream in the second quarter of calendar year 2015.

These assets will enable Weatherly to achieve its medium term goal of establishing a mining business capable of sustaining approximately 25,000 tonnes per annum of copper production.

The Company also has a 25% stake in the AIM listed company, China Africa Resources Plc (CAF), which is developing a lead/zinc mine called Berg Aukas also in Namibia.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTUGGGWGUPCUUM
Date   Source Headline
11th May 20157:30 amRNSRestoration - Weatherly International Plc
8th May 20157:00 amRNSTrading Update
16th Apr 20159:27 amRNSHolding(s) in Company
30th Mar 20155:41 pmRNSChange of Address and Registered Office
19th Mar 20155:33 pmRNSInterim Results
18th Mar 201511:52 amRNSUpdate on Suspension of Trading in Shares
17th Feb 201510:40 amRNSStatement RE: Suspension of Shares
16th Feb 20151:35 pmRNSSuspension - Weatherly International Plc
9th Feb 20157:00 amRNSUpdate on Weatherly International Option
3rd Feb 20153:58 pmRNSNotification of Major Interest in Shares
30th Jan 20157:00 amRNSUpdate on Progress at Tschudi Copper Mine
21st Jan 20157:00 amRNSQuarterly Operations and Production Update
7th Jan 20157:00 amRNSUpdate on Progress at Tschudi Copper Mine
31st Dec 20147:00 amRNSTotal Voting Rights
10th Dec 20147:00 amRNSGrant of Options
3rd Dec 20145:02 pmRNSResult of Open Offer and Placing
18th Nov 20147:00 amRNSPosting of Open Offer Circular
10th Nov 20147:00 amRNSFundraising and Proposed Open Offer
10th Nov 20147:00 amRNSPOLO TAKES PLACEMENT IN WEATHERLY INTERNATIONAL
7th Nov 201411:18 amRNSResult of AGM
7th Nov 20147:00 amRNSTrading Update
16th Oct 201411:21 amRNSNotice of AGM - Time Correction
16th Oct 20147:00 amRNSNotice of AGM
10th Oct 20144:26 pmRNSHolding(s) in Company
8th Oct 20143:54 pmRNSCompany Presentation on Website
7th Oct 20147:00 amRNSQ1 2015 Operational Update
7th Oct 20147:00 amRNSFinal Results
2nd Sep 20147:00 amRNSChange of Adviser
15th Jul 20147:00 amRNSQuarterly Update
30th Jun 20147:00 amRNSTotal Voting Rights
27th Jun 201410:41 amRNSHolding(s) in Company
25th Jun 20147:00 amRNSGrant of Options
20th Jun 20142:15 pmRNSHolding(s) in Company
16th Jun 20142:12 pmRNSHolding(s) in Company
2nd Jun 201411:39 amRNSHolding(s) in Company
2nd Jun 20147:00 amRNSSubscription to raise approximately £1.7 million
19th May 20147:00 amRNSTschudi Project and Central Operations Update
15th Apr 20147:00 amRNSQuarterly Operations and Production Update
18th Mar 20145:45 pmRNSStatement re. Central Operations
17th Mar 20147:00 amRNSInterim Results
20th Jan 20147:00 amRNSQuarterly Operations and Production Update
15th Jan 20147:00 amRNSHolding(s) in Company
31st Dec 20137:00 amRNSTotal Voting Rights
11th Dec 20137:00 amRNSHolding(s) in Company
10th Dec 201311:17 amRNSResult of AGM
5th Dec 201311:55 amRNSPlacing and Subscription to Raise approx. £1.1m
2nd Dec 20137:00 amRNSChange of Adviser
25th Nov 20134:34 pmRNSNotice of AGM
11th Nov 20137:00 amRNSDrawdown of Tranche B of the Tschudi Loan
8th Nov 20131:28 pmRNSHolding(s) in Company

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