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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
31st Oct 20062:08 pmRNSResults to June 30 2006
4th Oct 200610:12 amRNSLuanshya licence dispute
8th Sep 20069:24 amRNSHolding(s) in Company
8th Sep 20067:00 amRNSChange of year end date
1st Sep 20067:01 amRNSSmelter restart
29th Aug 20067:01 amRNSExercise of Warrants
8th Aug 20069:52 amRNSCopper supply deals
28th Jul 20067:01 amRNSAdditional Listing
14th Jul 20064:10 pmRNSEGM Statement
14th Jul 20064:09 pmRNSEGM Statement
10th Jul 20067:01 amRNSAcquisition
28th Jun 20067:00 amRNSRestoration - Weatherly Int
23rd Jun 20067:01 amRNSProposed Acquisition
12th Jun 20064:01 pmRNSAGM Statement
26th Apr 20068:00 amRNSOngopolo acquisition
26th Apr 20068:00 amRNSFinal Results
26th Apr 20068:00 amRNSSuspension - Weatherly Int
6th Mar 200612:09 pmRNSExclusive talks with Ongopolo
3rd Feb 20067:00 amRNSLuanshya progress
19th Dec 20057:00 amRNSDirectorate Change
15th Dec 20058:52 amRNSAIM Admission
14th Dec 200512:40 pmRNSDirectorate Change
14th Dec 200512:38 pmRNSEGM Statement
7th Dec 200512:25 pmRNSSch 1 Update - Weatherly Int
29th Nov 200510:07 amRNSSch 1 - Weatherly Int plc
22nd Nov 20053:27 pmRNSDisclosure of Shareholding
21st Nov 20057:02 amRNSAcquisition
9th Nov 20052:33 pmRNSChange of Adviser
29th Sep 20051:23 pmRNSInterim Results
30th Aug 20057:00 amRNSHolding(s) in Company
25th Aug 20057:01 amRNSIssue of Equity
3rd Aug 20051:07 pmRNSDirectorate Change
28th Jul 20057:00 amRNSAcquisition
27th Jul 200512:45 pmRNSDirector/PDMR Shareholding
15th Jul 20055:17 pmRNSAGM, EGM Directorate change
24th Jun 20057:01 amRNSAcquisition
24th Jun 20057:01 amRNSFinal Results

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