6th Dec 2007 11:27
Weatherly International PLC06 December 2007 Weatherly International plc ("Weatherly" or the "Company") Kombat Production Review Weatherly, the AIM listed integrated base metals producer with copper mining andsmelting operations in Namibia, has reviewed the production opportunitiesavailable at the Kombat underground mine. As described in the RNS of 29 October2007, a dewatering campaign below the water table of the lower levels has beenin progress. The production review was prompted by an unexpected five power outages in thepast week which has impacted on the progress of the dewatering and theassociated cost. Following the unreliability of electricity supply from thestate owned utility NamPower, which is not expected to improve significantly inthe next few years, coupled with the rising cost of electricity, the riskprofile of the dewatering campaign has increased substantially. In light of the other ore sources available at Kombat, the review has concludedit would be a better allocation of capital and resources to suspend thedewatering campaign below the water table in favour of the deposits above thewater table in the underground mine and the open pit potential. In due course,if there is a guaranteed stable and economic supply of electricity, Weatherlywill consider recommencing the dewatering campaign. The Kombat open pit, which has a current resource of 100,000 tonnes at 1.01%copper (verified by RSG), is expected to produce its first ore in December 2007.The results of the recent drilling programme are currently being evaluated and arevised resource is expected to be announced during the first quarter of 2008. From a group perspective, it is anticipated that overall production will not bematerially affected and the Company still expects to achieve its 2008 productiontarget. For further information contact: Weatherly InternationalJohn Norris, Company Secretary +44 (0) 207 868 2232Paul Craven, Chief Financial Officer Libertas CapitalJakob Kinde, Stephen Pickup +44 (0) 207 569 9650 BuckBiasAlex Buck +44 (0) 207 244 8053 +44 (0) 7932 740 452 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Weatherly International Plc