Any of you guys know about this one as it was pretty active yesterday

Broker note out on iii




Just got hold of this note from the house brokers....definitely worth a nibble. Looks pretty good.

DYOR.

Metals & Mining
25 February 2011


Weatherly International (WTI)
Price: 12.5p Target Price (UP): 18.8p Recommendation: BUY Market Cap: 66m



Weatherly International Copper Production Imminent



With first copper concentrate production imminent, Weatherly will soon be the only copper producer on AIM. With a string of announcements expected during the year for Weatherlys northern copper assets, 2011 is shaping up as a watershed.



Otjihase and Matchless re-commenced mining in December 2010 and will produce first copper concentrate in March 2011. Both are historical operations that Weatherly was forced to close during the GFC following the collapse of the copper price. Weatherly has forecast annual copper production over a five-year mine life to be 7,100tpa.



We have valued the Otjihase and Matchless operations on an NPV10% of 8.3p/share. We should note, however, that our long-term copper price forecasts are somewhat conservative at US$5,000/t. If we valued Otjihase and Matchless on the current five-year forward curve (which is the same as the current mine life), this would be 11.2p/share. When the current cash balance is added to this valuation it is not dissimilar to Weatherlys current share price. We therefore believe little to no value is being attributed to Weatherlys northern assets, which we currently value at 8.4p, with the potential to increase to at least 10.9p in the short term.



We are thus increasing our target price on Weatherly from 12.5p to 18.8p.

http://contrarianinvestoruk.squarespace.com/


Weatherly International (WTI) - A flat week for Weatherly this week but lots of news due in the coming weeks. First copper revenues from Matchless and Otjihase, the start of analysis of the Tsumeb tailings which could be worth over a $1 billion, confirmation of the CAR (China Africa Resources) listing date on AIM to name a few. This is my highest conviction holding since at 65 million the market capitalisation is way out of kilter with expected revenues this year and of course there is so much potential from Tsumeb and the Tschudi open cast project due to start in 2012.

http://www.investegate.co.uk/Article.aspx?id=201104130700077988E


TFrom Rio Tinto this morning in their operations update.

Quarterly copper production down 14% largely due to a decline in copper grades at the Escondida mine in Chile and the Grasberg mine in Indonesia.

For the full year mined copper expected to fall about 21% to about 539,000 tons.

Weatherly International (LON:WTI) is one of the best base metal plays on AIM, according to analyst Adam Kiley of City broker Ambrian.

His comments today were a response to the news that the group has shipped its first copper 500 tonnes in total - from its Central Operations in Namibia to buyer Louis Dreyfus Commodities (LDC).

In total Weatherly has contracted forward sales of 3,375 tonnes with the Swiss metals trader at an average price of US$9,560. Thats the equivalent of 34 per cent of its planned production to September 2012.

The group also revealed it expects to profitable in the current quarter. And despite transport delays and a prolonged rainy season, it remains on target to produce 4,500-5,000 tonnes of copper for the remainder of the year.

Weatherly has impressively ramped up production at theCentral operations and is now one of the only copper producers on AIM, Kiley said, raising his target price for the stock to 19.7 pence from 18.8 pence (current price 13 pence).

After maintaining its production guidance for the year and expecting profitability in its first full quarter of production, Weatherly is surely one of the better if not the best base metal stories on AIM this year as it is taking full advantage of record high copper prices.


Source: http://www.proactiveinvestors.co.uk/columns/broker-spotlight/5081/broker-roundup-jd-sports-fashion-asos-stellar-diamonds-weatherly-condor-resources-more-5081.html

In this dreadful market their are some real bargains beginning to pop up and imo
WTI is such a share? There seems to begood support at 8pish,with priduction being steadily built up a 2 year timescale could reward the patient handsomely,as the fillowing article spells out.

http://www.stockopedia.co.uk/content/weatherly-international-emerging-namibian-copper-producer-57473/

July 04, 2011
Weatherly International Is Now Advancing As A Sturdy Copper Producer, Having Shed All Unnecessary Appendages
By Charles Wyatt

Earlier this year Rod Webster, chief executive of Aim-traded Weatherly International, was able to announce that the first load of copper concentrate from its Matchless and Otjihase mines in Namibia had been delivered to Louis Dreyfus Commodities, and that his company was therefore on its way to producing a total of 20,000 tonnes per year of copper by 2013. It took a huge load off his mind after the traumas that had been endured in the past, but Rod is not one of those people who spend a lot of time congratulating themselves. The next step was to spin off the Berg Aukas joint venture. Berg Aukas is a dormant zinc-lead mine in the north of Namibia, not too far from the Tsumeb smelter, but it ought not to be dormant too much longer.

Weatherlys partner in Berg Aukas is a wholly-owned subsidiary of a major Chinese group - Jiangsu Eastern China Non-Ferrous Metals Investment Holding Company - which has farmed into a 65 per cent interest. The mine has a historical resource of 1.7 million tonnes grading 17% zinc, 5% lead and 0.6% vanadium oxide, and has been closed since 1978. But it is now being dewatered, and drilling is taking place to re-check the old resource prior to starting a feasibility study. The joint venture is called China Africa Resources and it is going to be listed on Aim, but the first priority is to carry out a feasibility on the Berg Aukas project itself, and this should be finished sometime next year.



Rod Webster is chief executive, and the company has a strong board that includes representatives from both parties. Mr Shao Yi, chairman of Jiangsu Eastern China, is chairman which leaves no doubt as to how much important the Chinese attach to the venture. And in this context its also worth recording that UK Prime Minister David Cameron and Chinese Premier Wen Jiabao were both present at the signing formalities for the setting up of China Africa Resources during the Premiers recent visit to London. Rod Webster makes the interesting point that this meeting was achieved because the vacuum in UK/China deals after the big Rolls Royce one last year gave space for little CAR.



With the Berg Aukas feasibility underway, the focus at Weatherly is now switching back to the Tschudi project, 20 kilometres west of the town of Tsumeb in the north of Namibia. The plan at Tschudi is to develop a medium scale open pit with a strike length of around two kilometres and a depth of 180 metres, and a stand-alone heap leach operation.



The JORC resource is estimated at 47.7 million tonnes grading 0.85% copper and 10.6 grams per tonne silver. Of that, within a potential open pit to a depth of 180 metres, the measured and indicated resource is 25.2 million tonnes grading 0.92% copper and 10.69 grams per tonne silver. Sedgman, the Australian metals engineering company, was appointed a year ago to manage the first phase of a feasibility study and preliminary metallurgical testwork, and it has now come to the conclusion that a heap leach operation should be ideal, in tandem with an SX-EW plant to produce cathode copper.



The alternative was to treat all ore through a conventional flotation plant. This would mean that benefits flowed from the by-product value of silver, but it would also have been more expensive. As it is, a two million tonnes per year open pit using heap leach/SX-EW should produce around 13,000 tonnes of copper per year for 10 years at a capital cost of US$49 million and average operating costs of US$4,000 per tonne compared with the present copper price of US$9,300 per tonne. This is a major step forward and the final feasibility study can be expected before the end of the year. Rod Webster reckons the leaching results are better than expected and fully justify the proposed route, which will also mean that final LME grade copper is produced within Namibia.



So here we have company which has been totally transformed since the dog days before its Tsumeb smelter was sold off to Dundee Precious Metals for around US$33 million in March last year. The feasibility study on Tschudi should be finished by the end of the year, and as far as Berg Aukas is concerned, it will be co-owned with China Africa Resources so development funding will not be the sole responsibility of Weatherly. A look at the share price chart shows that investors are now starting to appreciate just what Rod Webster has achieved with this company. They are now willing to place bets on its future.



Namibia is one of the best countries in Africa in which to operate and its also worth bearing in mind that Weatherly has tax credits of around US$140 million from the past. Within the next couple of weeks an update on production will confirm that the two Namibian mines are performing up to expectations and that Weatherly is now cash positive. Looking further into the future there is the Tambao manganese project in Burkina Faso to consider, as well as the Tsumeb tailings, where another feasibility is underway, so there is plenty more good news yet to come.

http://minesite.com/news/weatherly-international-is-now-advancing-as-a-sturdy-copper-producer-having-shed-all-unnecessary-appendages

http://www.proactiveinvestors.co.uk/companies/news/30418/weatherly-international-is-aims-only-copper-producer-getting-the-credit-it-deserves--30418.html

The directors of Weatherly International (AIM: WTI), WesternZagros Resources (TSX-V: WZR) and Minera IRL (AIM: MIRL) will be presenting:
Thursday the 21st July 2011, Chesterfield Mayfair Hotel, 35 Charles Street, Mayfair, W1J 5EB (Charles Suite)

The presentations will start at 6:00pm and finish at approx 8:00pm. After the presentations are complete the directors will also be available to take questions during a free canapand wine reception. Details on the presenting companies can be found below.

FREE registration - http://www.proactiveinvestors.co.uk/register/event_details/118

This event is suitable for the following: Sophisticated & private investors, private client brokers, fund managers, financial institutions, hedge funds, buy & sell side analysts and journalists.

The event is not suitable for people pursuing commercial opportunities.

If you have any problems registering or queries please email events@proactiveinvestors.com.

Looks good for WTI in the near future?

http://www.cnbc.com/id/43938867?__source=ft&par=ft

http://www.investegate.co.uk/Article.aspx?id=201110120700200053Q

http://www.investegate.co.uk/Article.aspx?id=201110120700220055Q
At year end, Ongopolo had delivered 2,792 metric tonnes of concentrate to the port at Walvis Bay. As control over the inventory had not passed to our customer at 30 June, the group did not take any sales to account. The inventory had an agreed sales value of US$5.1 million and a profit of US$2.6 million which will be released in the first half of the 2012 financial year. In the second half of the year, when Otjihase and Matchless entered production, the mines reported a loss of US$1.8 million which would have been a profit of US$0.8 million if the inventory delivered to port had been recognised as sales as described above.

http://www.ft.com/cms/s/0/5249677e-ffe2-11e0-8441-00144feabdc0.html#axzz1biUCHEA0

http://www.bnamericas.com/news/metals/japanese-copper-demand-to-grow-significantly-in-q3-say-industry-experts

opper: Look at future
27 October 2011, 22:15 (GMT+05:00)

Baku, Azerbaijan, Oct. 27 / Trend /

Azer Ahmedbeyli, expert of Trend's analytical center

Anglo Asian Mining plc, the AIM listed gold producer, yesterday announced positive results from its 5,460m Phase 1 drilling campaign at its flagship Gedabek gold/copper mine ('Gedabek') in Azerbaijan. "These latest drilling results covering the existing pit continue to demonstrate consistent solid gold, silver and copper grades and continuity of mineralisation at Gedabek," Anglo Asian CEO Reza Vaziri said. "With a current resource base of 791,000oz of gold, 49,300t of copper and 7,597,000oz of silver for all categories, it is our intention to continue both infill and exploration drilling at Gedabek."

This project is focussed on expanding the existing resource outline in order to announce an increased and upgraded resource by Q1 2012 and in turn, a JORC compliant reserve estimate thereafter. "In addition, with gold and copper production continuing to perform solidly at Gedabek we remain confident of realising our production target of 58,000 to 60,000oz of gold and 525 tons of copper for FY 2011," he said.

The October newsletter of the International Copper Study Group (ICSG) presented recent data on supply, demand and prices for the period from January to July this year: the production of refined copper in the world increased by 2.2 percent compared to the same period of 2010, consumption excluding China, increased by 4 percent, the shortage of production amounted to 118,000 tons, the average price per ton on the London Metal Exchange reached 9.430 compared to $7.070 over the first seven months of 2010.

China is far ahead in the world imports of copper. Getting rid of existing dollar reserves, China buys raw materials, thus strengthening its resilience to possible new economic shocks in the ongoing competition. But there is another version. Copper production in China is increasing every year (seven months of this year grew by 15 percent), but the country does not diminish, but continues to increase import volumes larger than needed for commercial use - a fact strongly evident.

China has officially announced that it has four million tons of copper reserves valued at $1.3 billion, but unofficial sources describe the figure at least four times greater. According to experts of the Money Morning Investment Group, China is trying to make the raw materials a kind of new world currency instead of dollar, a new accounting tool for making international transactions, and the main role in this case will be played not by the gold, but copper, the practical application of which is far higher. This is a long-term goal, the implementation of which would help ensure world leadership.

Copper, as a perfect conductor of electric current, is a key product in the construction of electricity networks. According to forecasts of IEA, the global energy consumption in 2030 will increase by 2.5 percent annually, and power generation will make up additional 4800 hW. Covering the growing worldwide demand for electricity will require thousands of kilometers of copper cable. The second important factor in covering the future demand for copper is the automobile industry. Today, the ordinary middle-class car contains 22.5 kg of copper, but as for a car of "premium" class, copper wire is used in length of one and a half kilometers.

The volume of copper is more, up to forty kilograms in the new generation cars (with an electric motor or hybrid), of which production is increasing every year. In the high-speed trains of new generation, 2 to 4 tons of copper is used, whereas in the conventional electric locomotives - 1 to 2 tons.

The total volume of gold reserves in Azerbaijan stored in the Central Bank of the country has now reached 12.514.7 troy ounces (389.2 kg with a market value of $18.7 million).

Azerbaijan could also create a strategic reserve of copper from its own resources, given that six of the field are so far developed only by one. It is now exported.

Anglo Asian Mining PLC is the only company to develop gold fields in Azerbaijan, registered in the list of Alternative Investment Market of London Stock Exchange. Anglo Asian Mining Plc owns the rights to develop six fields in south-west Azerbaijan at Gedabey, Ordubad, Gosha Bulag, Gizil Bulag, Vejnali and Soyutlu. The concession is based on PSA agreements signed with the Azerbaijani government in August 1997. According to the contract, production plans aim to yield 400 tons of gold, 2,500 tons of silver, and 1.5 million tons of copper. Gold and silver were first discovered in Gedabek in May 2009.

http://www.bloomberg.com/video/81756938/

http://www.cbsnews.com/video/watch/?id=7390373n&tag=strip