Published: January 22, 2016 |

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Copper cathode producer Weatherly International said its Tschudi project achieved nameplate production rates of 17,000 tonnes per annum during December.

In October, the company increased its production guidance for calendar year 2015 by 4 percent to 10,400 tonnes of copper cathode, and on Thursday the company revealed the guidance had been exceeded by a further 2 percent to reach 10,659 tonnes.

The Tschudi project, in Namibia, achieved commercial production status in October and the company revealed that in the three months since then it delivered production of 4,076 tonnes of copper cathode, equivalent to 96 percent of nameplate capability, and up from 3,554 tonnes in the preceding quarter.

Direct cash costs – C1 costs in mining industry jargon – for the quarter were US$4,080 per tonne, well below recent guidance of US$4,250 – US$4,350 per tonne.

“Last year was one of significant operational progress for Weatherly and we are very pleased to continue our track record of meeting or beating guidance at Tschudi, with the operation proceeding well and in line with our plans,” said Craig Thomas, Weatherly’s chief executive officer.

“I am delighted that, as promised in July, Weatherly is now operating a new mine producing 17,000 tonnes per year of high grade copper cathode in the best mining jurisdiction in Africa,” he added.

Weatherly said Peter Christians has commenced work on site as the new general manager for Tschudi in early December, further strengthening the management team at the operation.

Meanwhile, Ray Jenner, the representative of Orion Mine Finance on the company’s board is to retire and step down from the board. Orion has advised the company that a replacement will be appointed to ensure continuity of support.

Source: (January 21, 2016) Proactive Investors

About Weatherly International
Weatherly (WTI) is an AIM listed mining, development and exploration Company focusing on Copper in Namibia. The copper portfolio includes the following assets in Namibia: Tschudi – an open pit SX-EW project which achieved first copper production in February 2015, Central Operations which consists of two mines, Otjihase and Matchless, which are in production and the Tsumeb Tailings project which is in feasibility stage, and an exploration license. The company has resources (JORC) containing 712,000 tonnes of copper.

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