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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
29th Oct 20137:00 amRNSDrawdown Tranche 1 Tschudi Loan
23rd Oct 20137:00 amRNSHolding(s) in Company
17th Oct 20137:00 amRNSChange of Adviser
16th Oct 20137:00 amRNSQuarterly Operations and Production Update
15th Oct 20137:00 amRNSFinal Results
25th Sep 20137:00 amRNSTschudi Update
20th Sep 20137:00 amRNSTschudi Update
8th Aug 201310:55 amRNSHolding(s) in Company
17th Jul 20137:00 amRNSQuarterly Operations and Production Update
26th Apr 20137:00 amRNSUpdate on the Environmental clearance for Tschudi
17th Apr 20137:00 amRNSQuarterly Operations and Production Update
5th Apr 20131:00 pmRNSFurther information regarding settlement in Tambao
5th Apr 201312:13 pmRNSSettlement in Tambao Project Arbitration
11th Mar 201310:27 amRNSGrant of Options
4th Mar 20137:00 amRNSInterim Results
19th Feb 20135:37 pmRNSResult of General Meeting
30th Jan 20138:15 amRNSNotice of General Meeting
17th Jan 20137:00 amRNSDirectorate Change
14th Jan 20135:09 pmRNSHolding(s) in Company
20th Dec 20124:22 pmRNSAnnual Report and Accounts
19th Dec 20127:00 amRNSBFS and Loan
30th Nov 201212:35 pmRNSHolding(s) in Company
22nd Nov 20127:00 amRNSReopening the Old Matchless Mine
14th Nov 20122:26 pmRNSResult of AGM
14th Nov 201211:12 amRNSAGM Statement
12th Nov 20129:23 amRNSTschudi Feasibility Study Update
23rd Oct 20127:00 amRNSTambao Project Arbitration Proceedings
12th Oct 20127:00 amRNSQuarterly Operations and Production Update
13th Sep 20127:00 amRNSFinal Results
13th Aug 20121:15 pmRNSHolding(s) in Company
13th Aug 20121:11 pmRNSHolding(s) in Company
7th Aug 20124:22 pmRNSHolding(s) in Company
20th Jul 20127:00 amRNSQuarterly Operations and Production Update
19th Apr 20127:00 amRNSQuarterly Operations and Production Update
26th Mar 20127:00 amRNSAdviser Change of Name
16th Mar 20129:50 amRNSHolding(s) in Company
15th Mar 20122:10 pmRNSDirector Dealing and Holding in Company
28th Feb 20127:00 amRNSInterim Results
7th Feb 20127:00 amRNSTschudi Feasibility Study - Progress Report
18th Jan 20127:00 amRNSQuarterly Operations and Production Update
9th Jan 201212:05 pmRNSHolding(s) in Company
16th Dec 20114:57 pmRNSHolding(s) in Company
14th Dec 201111:29 amRNSChairman's Statement and Result of AGM
10th Nov 20113:43 pmRNSNotice of AGM
2nd Nov 20114:46 pmRNSHolding(s) in Company
12th Oct 20117:00 amRNSQuarterly Operations and Production Update
27th Sep 20117:00 amRNSInvestment in Subsidiary
15th Sep 20114:58 pmRNSHolding(s) in Company
1st Sep 20117:00 amRNSMaiden JORC Resource on Tsumeb Tailings
26th Aug 20117:00 amRNSChange of Adviser

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