Loan repayment to Orion Mine Finance

25 November 2015

Weatherly International plc

 ("Weatherly International" or the "Company")

Loan repayment to Orion Mine Finance

In the month of October based on the current exchange rate of approximately 13.961 (ZAR to US$) and actual copper cathode produced at the Tschudi mine of 1,361 tonnes, the Tschudi mine achieved a C1 cost of US$4,361. The Company anticipates achieving nameplate production levels of 1,400 tonnes of copper cathode by the end of the quarter in line with previous announcements, and the C1 cost will be lower as a result of this. However, in light of the current copper price which is at a six year low the Tschudi mine is not making sufficient operating cash for the service of its debt facility.

Weatherly International is due to repay the first instalment on Tranche B of its loan to Orion Mine Finance (Master) Fund I LP ("Orion") on the 30th November. Weatherly's largest shareholder and lender, Orion, has confirmed it has agreed to defer the payment of such instalment, and discussions around the detail of these amended arrangements have commenced. 

Further announcements will be made in due course on these negotiations.

For further information please contact:

Weatherly International plc +44 (0) 20 7936 9910

Craig Thomas, Chief Executive Officer

Kevin Ellis, CFO and Company Secretary

RFC Ambrian Limited +44 (0) 20 3440 6800

(Nominated Adviser & Broker)

Samantha Harrison

Finncap +44 (0) 20 7220 0500

(Joint Broker)

Christopher Raggett

Blytheweigh +44 (0) 20 7138 3204

(Financial PR) Tim Blythe / Camilla Horsfall / Megan Ray

About Weatherly

Weatherly is an AIM listed copper mining company operating in Namibia in southern Africa. Its principal assets are one operating open pit copper mine called Tschudi and two underground copper projects called Otjihase and Matchless.

The Company also has a 25% stake in the AIM listed company, China Africa Resources plc (AIM: CAF), which is developing a lead/zinc mine called Berg Aukas, also in Namibia.