22nd Jul 2015 08:04
LONDON (Alliance News) - Weatherly International PLC shares were trading higher on Wednesday morning after the company said production at its Tschudi copper project in Namibia ramped up in the fourth quarter and affirmed its monthly production guidance.
Weatherly said production at the Tschudi project is rising, with 2,257 tonnes of London Metal Exchange Grade A copper cathode produced in the quarter to the end of June, Weatherly's fiscal fourth quarter.
The company affirmed its monthly production guidance for Tschudi at 1,000 tonnes a month for the quarter to the end of September and expects this to rise to 1,400 tonnes per month in the quarter to the end of December.
"The ramp up at Tschudi is proceeding according to the revised schedule, and by the end of this calendar year Weatherly will be operating a new 17,000 tonnes per annum open pit copper mine in the best mining country in Africa, producing some of the highest quality copper cathode in the world," said Weatherly Chief Executive Craig Thomas.
Weatherly shares were up 14% on the news to 1.20 pence, one of the best performers in the AIM All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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