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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
18th Feb 20082:23 pmRNSRule 8.1- Weatherly Intl Plc
15th Feb 200811:42 amRNSRule 2.10 Announcement
15th Feb 20087:00 amRNSStmnt re Share Price Movement
4th Feb 20087:00 amRNSNon-core asset disposal
28th Jan 20087:00 amRNSCopper Supply Contract
22nd Jan 20082:00 pmRNSAGM Statement
20th Dec 20075:56 pmRNSAnnual Report and Accounts
6th Dec 200711:27 amRNSKombat Production Review
28th Nov 20079:00 amRNSHolding(s) in Company
26th Nov 200711:05 amRNSFinal Results
20th Nov 200710:44 amRNSNotice of Results
1st Nov 200710:06 amRNSHolding(s) in Company
29th Oct 20077:51 amRNSProduction Update
23rd Oct 20071:49 pmRNSDrilling Report
5th Oct 20075:50 pmRNSExercise of Warrants
2nd Oct 20073:03 pmRNSProduction Update
11th Sep 20079:14 amRNSHolding(s) in Company
31st Aug 20077:00 amRNSChange of Registered Office
29th Aug 200711:29 amRNSLTIP Announcement
17th Aug 20078:00 amRNSIssue of Equity
15th Aug 20075:49 pmRNSAIM Rule 26
13th Aug 20071:42 pmRNSResult of EGM
26th Jul 20072:36 pmRNSProduction Update
20th Jul 20077:00 amRNSProposed Placing
27th Jun 20077:01 amRNSHolding(s) in Company
27th Jun 20077:01 amRNSIssue of Equity
26th Jun 20072:21 pmRNSDirectorate Change
26th Jun 20072:07 pmRNSTiming of results
6th Jun 20077:01 amRNSRe Agreement
21st May 20077:02 amRNSRe Agreement
21st May 20077:01 amRNSReprocessing Agreement
24th Apr 200712:18 pmRNSProduction Update
19th Mar 200712:53 pmRNSChange of Adviser
15th Mar 200710:29 amRNSDisposal of Forsys stake
5th Mar 20077:03 amRNSInterim Results
27th Feb 20077:03 amRNSNotice of Results
31st Jan 20071:02 pmRNSHolding(s) in Company
16th Jan 20077:01 amRNSUSD 10m agreement with Forsys
14th Dec 200611:24 amRNSTotal Voting Rights
14th Dec 20069:34 amRNSHolding(s) in Company
7th Dec 20067:01 amRNSCopper output rises
6th Dec 20063:28 pmRNSAcquisition
30th Nov 20063:36 pmRNSAnnual Report and Accounts
29th Nov 200610:31 amRNSAcquisition
21st Nov 200610:47 amRNSExercise of Warrants
17th Nov 20063:57 pmRNSHolding(s) in Company
9th Nov 20063:22 pmRNSGrant of Options
9th Nov 20067:03 amRNSKombat open cast start
8th Nov 20064:36 pmRNSHolding(s) in Company
2nd Nov 200612:02 pmRNSHolding(s) in Company

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