I've just revisited this valuation that I found with Google, written by TreeShaker on Stockrants, here: http://www.stockrants.com/forum/euro-uk-stock-picks/2084-weatherly-international-wti-aim-listed.html.

This was done prior to the chinese agreement to buy 50.1%, but nothing has changed since then except for the fact that WTI have stated that they are now going to reopen their mines, and the fact that there will be x2 as many shares.

Assumptions are, mines reopen, cautious cost per ton $2500, copper price per ton is $5500.

Smelting income: $24m
Tscuidi mining income: $108m
Valuation, assuming PER of 6 and /$ 1.7 = 480m

1092m shares in circulation, after 100m issued to DPM and 546m issued to chinese.

Value per share: 43.9p

There is potentially more upside from the chinese assets, and if the copper price increases. Current copper price is $6000, so you could already claim this valuation is low.

Thanks to Treeshaker for the analysis.

The short term potential of WTI is huge

I hope so I picked up a few on friday.

Will stick around for a bit longer then, looking good. BB

TIDMWTI

RNS Number : 7680A
Weatherly International PLC
14 October 2009

?
Weatherly International Plc ("Weatherly" or the "Company")


Tschudi Project Resource Estimate


Weatherly International PLC is pleased to announce the results of an independent
JORC compliant resource estimate for its wholly owned Tschudi project, located
21km west of the town of Tsumeb, Republic of Namibia. Limited underground
production from the Tschudi deposit took place in 2008, with ore being trucked
to the Company's Tsumeb concentrator. Weatherly is now evaluating Tschudi as a
larger scale open pit project.


The estimate incorporates the results of a 200 hole infill drilling program
completed in 2007 and 2008, which comprised a total of 24,671m of reverse
circulation drilling, and 1,841m of diamond drilling, aimed at further defining
a previous historic resource estimate completed in 2002. This new JORC compliant
estimate was completed by Coffey Mining (SA) (Pty) Ltd (Coffey Mining), who also
designed and managed the exploration and delineation drilling program. The new
estimate is a slight increase over the last declared global estimate based on
historical drilling (43mt @0.83% Cu including inferred - Mintek 2002), but more
importantly increases the confidence level relating to the Measured and
Indicated categories which will form the basis of the pit optimisation process
going forward. Details of the new resource estimate are presented in Table 1.


Table 1


+-------------------+-------------------+----------+----------+------------+------------+------------+
| Tschudi Project |
| Tschudi Project Mineral Mineral Resource Estimate and Classification |
+ +
| | |
+----------------------------------------------------------------------------------------------------+-------------------+
| Domain |Resource Category | Tonnage | Cu | Ag | Cu Metal | Ag Metal |
+-------------------+-------------------+----------+----------+------------+------------+------------+
| | |k tonnes | % | g/t | tonnes | kg |
+-------------------+-------------------+----------+----------+------------+------------+------------+
| Oxide | Measured | 81 | 1.11 | 10.71 | 896 | 865 |
+ +-------------------+----------+----------+------------+------------+------------+
| | Indicated | 4,546 | 0.73 | 7.82 | 33,004 | 35,533 |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Measured and | 4,627 | 0.73 | 7.87 | 33,900 | 36,398 |
| | Indicated | | | | | |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Inferred | | | | | |
+-------------------+-------------------+-------------------+----------+----------+------------+------------+
| |
+----------------------------------------------------------------------------------------------------+
| Sulphide | Measured | 4,347 | 1.09 | 11.15 | 47,594 | 48,494 |
+ +-------------------+----------+----------+------------+------------+------------+
| | Indicated | 19,869 | 0.94 | 11.82 | 185,990 | 234,886 |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Measured and | 24,217 | 0.96 | 11.70 | 233,584 | 283,379 |
| | Indicated | | | | | |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Inferred | 18,874 | 0.74 | 9.85 | 140,482 | 185,966 |
+-------------------+-------------------+-------------------+----------+----------+------------+------------+
| |
+----------------------------------------------------------------------------------------------------+
| Total | Measured | 4,428 | 1.10 | 11.15 | 48,490 | 49,359 |
+ +-------------------+----------+----------+------------+------------+------------+
| | Indicated | 24,416 | 0.90 | 11.08 | 218,994 | 270,419 |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Measured and | 28,844 | 0.93 | 11.09 | 267,484 | 319,777 |
| | Indicated | | | | | |
+ +-------------------+-------------------+----------+----------+------------+------------+
| | Inferred | 18,874 | 0.74 | 9.85 | 140,482 | 185,966 |
+-------------------+-------------------+----------+----------+------------+------------+------------+


The resource estimate was completed at a 0.3%Cu cut-off grade.


Rod Webster, CEO of Weatherly commented, "We are very pleased with the outcome
of this new compliant resource estimate for Tschudi. Coffey Mining is in the
process of completing a preliminary pit design for the project, which will form
the basis of metallurgical and engineering studies which we intend to carry out
over the coming months to define the optimum development strategy for bringing
Tschudi back into production as an open pit operation. Given the proximity of
Tschudi to Tsumeb, and that the bulk of the resource is in the sulphide
category, we will focus on incorporating our existing concentrator into this
strategy, both to reduce capital costs and to shorten the development timeline.
With additional funds available from the proposed ECE placement, we will also be
in a position to conduct an aggressive exploration program in the Tschudi area,
where several attractive drill targets have been defined by prior work."


For further information contact:


+---------------------------------------------+--------------------------+
| Rod Webster, Chief Executive Officer, | +44 (0) 20 7868 2232 |
| Weatherly International Plc | |
| | |
+---------------------------------------------+--------------------------+
| Richard Greenfield, Ambrian Partners | +44 (0) 20 7634 4700 |
| Limited | |
+---------------------------------------------+--------------------------+




About Tschudi


The Tschudi deposit is hosted by Proterozoic age arenites and conglomerates
unconformably overlying dolomitic carbonate sediments. It is roughly planar,
oriented NE - SW with a 3km strike length, dips at approximately 30 to the
NW, and is open at depth. Oxide mineralization, comprising mostly malachite and
chalcocite is developed to a vertical depth of approximately 55m. This is
underlain by a discontinuous mixed oxide/ sulphide transitional zone to a
vertical depth of approximately 75m, and sulphides, comprising chalcopyrite and
bornite below this.


The bulk of the mineralization is contained within a robust Basal zone situated
directly above the dolomite contact, that extends throughout the 2.5km strike
length and 925m down dip length of the deposit that has been modelled in the
estimate. The true width of mineralization in this Basal zone varies from 1 -
45m with large areas of 10 - 15m thick mineralization running roughly parallel
to strike at 80 - 150m below surface. Mineralization generally narrows and
decreases in grade towards surface and down dip. It is open to depth and along
strike although there is a general decrease in grade and width in both
directions. Varying from 0-15m above the Basal zone, 14 discontinuous
hangingwall lenses have been defined; these have a maximum thickness of
approximately 25m, more commonly 2 - 5m, and plunge shallowly to the northwest.
They may be locally stacked, providing near continuous mineralization from the
dolomite contact over significant thicknesses.


A 10m x10m x 3m Datamine block model of the mineralized zones was created
confined at the surface by a topographic DTM, and model cells were classified as
being oxide or sulphide based on a DTM representing 50% acid soluble Cu. A
volume enclosing the historical surface and underground workings was removed
from block model. Cu and Ag grade values were interpolated into the model of the
Basal zone using the 1m composite samples and an inverse distance interpolation
methodology. In order to preserve potential horizontal layering the search radii
used for interpolation was dynamic and changed orientation as the dip and strike
of the mineralization changed. For the hangingwall mineralized zones, full
length composite samples were used for grade interpolation and the estimates
were made using ordinary kriging.


Qualified Person Notes


The mineral resource estimates contained in this news have been prepared in
accordance with The Code for Reporting of Mineral Resources and Ore Reserves of
the Australasian Joint Ore Reserves Committee (JORC). The technical information
in this news release, including the information that relates to geology,
mineralization, drilling, and mineral resource estimates on the Tschudi Project,
is based on information prepared under the supervision of, or has been reviewed
by M McKinney of Coffey Mining (SA) (Pty) Ltd The foregoing person is a
"qualified person" for the purposes of JORC with respect to the geology,
mineralization and drilling being reported on. The "qualified person"
responsible for the independent resource estimate for resources at Tschudi was A
B Goldschmidt, a geologist with Coffey Mining (SA) (Pty) Ltd with more
than 20 years of experience. The technical information has been included herein
with the consent and prior review of the above noted qualified persons. The
qualified persons have verified the data disclosed, including sampling,
analytical and test data underlying the information or opinions contained
herein.

This information is provided by RNS
The company news service from the London Stock Exchange
END

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