30th Jan 2015 08:29
LONDON (Alliance News) - Shares in Weatherly International PLC soared 26% Friday after it said that progress at its Tschudi copper mining project in Namibia is ahead of schedule, with first copper forecast to be produced in February 2015.
The company said over 80,000 tonnes of ore has been stacked at Tschudi, and its first seven cells are being irrigates with sulphuric acid.
Its crushing and agglomeration plans is now in full operation, Weatherly said, and is achieving its desired throughput rates. Its solvent extraction plan is in the process of being willed with diluent, and the company said that both its solvent extraction plant and electro-winning plant will be completed in the coming week, ready to begin plating copper.
"The Tschudi team has taken great strides forward over the last few weeks in delivering the project ahead of schedule and on budget. Tschudi, once in operation, will deliver significant benefit to our shareholders," said Chairman John Bryant in a statement.
Shares in Weatherly are trading up 26% at 1.10 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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