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

Weatherly International plc

('Weatherly' or the 'Company')



Central Operations Update



HIGHLIGHTS



Commencement of mining at both Otjihase and Matchless.



Commissioning of concentrator expected to start by end of month.



Letter of Intent with prime contractor Breda Mining Contractors ('BMC') to maintain and operate the concentrator.



Weatherly is pleased to announce that mining activities have resumed at both the Matchless and Otjihase mines, with more than 200 people working at the sites. Ore is being blasted and stockpiled in advance of the concentrator being re-started later in the month for an initial commissioning run.



The Company intends, after the initial commissioning run to debug the plant, to commence normal operations at the concentrator by mid-February. Thereafter production will increase steadily and overall output for calendar year 2011 is expected to be between 4,500-5,000t of contained copper.



Furthermore, Weatherly has signed a Letter of Intent with local contractor BMC to maintain and operate the concentrator and other fixed plant on surface and underground at Otjihase

Excellent RNS,production and revenue not far away.

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



Central Operations Update

and

Investor Relations Presentation





Central Operations



As previously announced on 12 January 2011, mining activities have resumed at both the Otjihase and Matchless mines with ore being blasted and stockpiled awaiting commissioning of the concentrator. The commissioning of the concentrator is progressing well and the plant will resume normal operation in accordance with the programme. Weatherly expects to have sufficient quantities of concentrate to commence transport to Walvis Bay in March with the first revenues to be realised from concentrate sales shortly thereafter.



Both the Matchless ore haulage and Otjihase concentrate haulage contracts have been awarded to local company, Kraft Holdings, which now completes the award of all outstanding major contracts.



Forward Sales of Copper



Further to the previous announcement on 14 January 2011, Weatherly announces that its wholly owned subsidiary, Ongopolo Mining Limited ('Ongopolo'), has entered into an additional forward sales contract with Louis Dreyfus Commodities Metals Suisse S.A. ('Louis Dreyfus Commodities').



Weatherly has contracted with Louis Dreyfus Commodities for an additional 950 tonnes of contained copper to be delivered progressively over a 17 month period commencing in May 2011 at a fixed price of US$9,750/tonne. In total, Weatherly has therefore contracted forward sales for a total of 1,925. This represents approximately 20% of anticipated production over the period covered by the two contracts.



Investor Relations Presentation



Weatherly is pleased to provide shareholders with the Company's latest presentation which is being made available today at the Mining Indaba conference in Cape Town, South Africa.



To view the full presentation, please paste the following link into your web browser:



http://www.rns-pdf.londonstockexchange.com/rns/8296A_1-2011-2-7.pdf

CAPE TOWN Global miner Rio Tinto expects demand for iron-ore, copper and aluminium to double over the next 15 to 20 years, a senior executive said on Tuesday.

"We expect consumption trends to lead to a doubling in demand for iron-ore, copper and aluminium over the next 15 to 20 years," Harry Kenyon, Rio's chief executive for diamonds and minerals, told a mining industry conference in Cape Town."

1st REVENUES NEXT MONTH.

Information X Enter a valid email address Show me how to log in Forgot password?
KeywordCompanyEPIC/TIDMSEDOL/ISINNews PriceAnnouncementsFundamentalsNewsArticleRSSWeatherly Int. (WTI)Add to Alerts list Print Mail a friend Annual reports

Wednesday 23 February, 2011Weatherly Int.
Interim Results
RNS Number : 6695B
Weatherly International PLC
23 February 2011









Weatherly International plc

("Weatherly" or the "Company")

Interim Results for the six month period to 31 December 2010





Weatherly International plc today announces its unaudited interim results for the six months ended 31 December 2010.





For further information contact:



Rod Webster, Chief Executive Officer Weatherly International +44 (0)207 917 2989

Max Herbert, Company Secretary



Samantha Harrison Ambrian Partners Limited +44 (0)207 634 4700

Jen Boorer



Carina Corbett 4C Communications Ltd +44 (0) 20 3170 7973








Summary highlights
for the six months ended 31 December 2010


Financial



Cash at bank US$15 million as at 31 December 2010



Net assets of US$32.1 million as at 31 December 2010





Corporate and operational



Successful restart at Central Operations



US$7.0 million loan from Louis Dreyfus



Share placement raising 4.45 million (US$ 7.0 million) in November 2010



Sale of Kombat mine completed, US$3.2 million received in total





Post Half Year End



Concentrator and the mines have now been fully commissioned and are operational



Forward sales of approximately 20% of the output from Central Operations for first 18 months of production at average weighted price of US$9,500 per tonne



First sales revenues expected March 2011



Contract awarded to drill the Tsumeb tailings as prelude to a full feasibility study





Chairman's statement


Half Year Statement
We are pleased to report Weatherly's results for the half year ended 31 December 2010.



During this period we recorded a loss of US$3.7 million comprising operating losses before depreciation of US$3.2 million associated with the cost of maintaining and redeveloping the mines, depreciation charges of US$1.6 million, and profit of US$1.1 million from disposal of Kombat and other property.



Cash in the bank at 31 December, 2010 totalled US$15 million.



During this period our focus has been on the next stage of development of our Company. This involves not only returning our mines to production in accordance with our programme, but laying the foundations for further development and corporate growth.



Our plans for reopening the mines have involved the recruitment of senior staff and the strengthening of the boards of our operating companies in Namibia with some significant appointments. We have recruited Craig Thomas as Chief Operating Officer and two non-executive directors, Titus Haimbili and Frans Ndoroma, who join Cleophas Mutjavikua on the boards of our operating companies. We have been able to move quickly into production as a result of the measures taken to maintain the mines in good order since production ceased at the end of 2008.



We also entered into an off-take agreement with Louis Dreyfus Commodities Metals Suisse SA ('Louis Dreyfus Commodities') who also provided US$7.0 million of funding for the project.



With copper prices at a high level, the Board has adopted a cautious approach to risk management and has authorised forward selling of up to 35% of our output from the mines for a period of 18 months. To date we have contracted to sell approximately 20% of our projected output in two tranches: the first at US$9,260 per tonne and the second at US$9,750 per tonne. We shall continue to monitor copper prices and projections in the context of our overall strategy which is to guarantee minimum levels of revenue from our mines, particularly during the critical start-up period.



In November we undertook a placement of our shares raising 4.45 million (US$7.0 million) which also served as a catalyst to reshape our shareholder base. We are pleased to welcome all our new shareholders. Blackrock who participated in the placement and were allotted 12 million shares have now taken their total holding in the Company to 65.6 million shares (12.25%) having acquired a large part of the Dundee Precious Metals Inc shareholding.





Operational Update



Central Operations

Mining at Otjihase and Matchless has been under way since January and the company is now pleased to announce that all parts of the mine have been fully commissioned. This includes the concentrator, conveyor hoists and all of the machinery that is necessary to make the mine fully operational. Delivery of the concentrate to Walvis Bay is imminent and the first revenue is expected to be received in March. We believe that we have the right management, contractors and framework in place to sustain a viable and profitable operation which will serve as the platform for the future development of the Company.



Tsumeb Tailings

We are undertaking a formal investigation into the feasibility of copper production from the old tailings dump at Tsumeb. We are examining this urgently as it provides the potential to exploit an existing resource and increase our copper production with relatively low investment. Accordingly, we have awarded a contract to Dump and Dune, a South African company, to mobilise at the beginning of March, 2011. The Tsumeb tailings dump comprises residues from the old Tsumeb mining operations and contains an historical (non-compliant) resource of 16mt grading 0.71% copper. It is also known to contain significant concentrations of lead, zinc and silver. The company has engaged consultants Coffey Mining to prepare a resource statement and report that will comply with the AIM requirements. Sedgman Engineering, who is currently managing the Tschudi feasibility study, has also been engaged to determine the most suitable retreatment process that can take advantage of the existing Tsumeb concentrator and infrastructure.





Tschudi Feasibility Study

The open pit-able resource at Tschudi remains a key element in our strategy for increased copper production. Currently the base case is to produce around 10-13,000tpa of copper over a life of at least ten years. Metallurgical testwork is continuing at the AMDEL laboratories in Perth under the auspices of Study Managers, Sedgman. Results to date support the development of a stand-alone open pit operation based on either heap leaching the transitional ores followed by flotation of the primary ores or simply flotation of both ore types. Final selection of the processing route is awaiting the results of column leachwork that has been running since last year and the latest round of flotation testwork. With high precious metal prices, the recovery of silver has become an increasingly important element in determining the preferred metallurgical route.



China Africa Resources Plc

In January we signed the Implementation Agreement with East China Mineral Exploration and Development Bureau ('ECE'), for the newly formed jointly managed company, China Africa Resources Plc ('CAR'). We are now working on the detailed documentation required for the listing. This transaction, when completed, will involve the distribution of 10% of the entire share capital in CAR to our shareholders as an in specie dividend. This will leave Weatherly with a 25% interest in a very exciting growth opportunity with an ambitious Chinese partner.



Exploration

The company intends to accelerate its planned extension drilling of the Tschudi syncline. By doing so, it may be possible to incorporate any significant increases in the resource into the feasibility study without unduly delaying the final report. Drilling of Tsumeb West and other areas contained in the exploration licence is scheduled for later in the year.



Appointments

With so many projects going forward we are now in a position to recruit top mining executives to strengthen our team across the full range of our activities. We have appointed Dominic Claridge, an experienced mining engineer, to oversee the development projects at Tsumeb, Tschudi and Berg Aukas (on behalf of CAR). With an increased focus on exploration we shall be making a further appointment to oversee our exploration activities in Namibia. We are also recruiting an experienced mine manager for Central Operations to support the excellent work carried out by Craig Thomas, our Chief Operating Officer. These are all key appointments that will support the future development of the Company.



Outlook

The company is now back in production at an opportune time given the current climate of high copper, and precious metal prices. We have an excellent pipeline of projects and a more than capable team of people to see these projects to fruition. We shall be increasing our exploration efforts with the aim of adding to our already substantial JORC compliant inventory of 623,645 tonnes of copper. The spin-out of CAR with one of China's largest mineral groups, ECE, offers enormous opportunity and we are still hopeful that there will be an early resolution to our involvement in the Tambao manganese project in Burkina Faso. All in all, 2011 promises to be a very exciting year for the company.

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