Weatherly International

WTI: 0.95 -0.05 (▼5.13%)

Delayed:2017-08-22 14:54:19
Bid Price 0.85 High Price 0.99
Ask Price 1.00 Low Price 0.86
Open Price 0.95 Spread 16.22%
Prev Close 0.98 Volume 8,299,199.00

Weatherly International Share Price Chart


Historic - 1 year

Weatherly International Share Price Information

Name Weatherly International Epic WTI
Sector Mining ISIN GB00B15PVN63
Activites Weatherly International plc is an AIM listed, copper focused mining company, the principal assets of which are located in Namibia. It currently has two producing copper mines (Otjihase and Matchless), and has finalised the financing for the development of the Tschudi Copper Project. These assets will enable Weatherly to achieve its medium term strategy of establishing a copper mining business capable of sustaining approximately 25,000tpa of copper at an average industry cost of production. The Company also has a 25% stake in an AIM listed company, China Africa Resources Plc (CAR), which is currently focused on the development of the lead/zinc project at Berg Aukas in Northern Namibia. Security Type Equity

Key numbers

Latest Share Price (p) 0.93 Net Gearing (%) 76.86
Market Cap (£m) 7.96 Gross Gearing (%) 80.64
Shares in issue (m) 1,060.80 Debt Ratio 12.96
P/E Ratio -0.77 Debt-to-Equity Ratio 0.04
Divs per share (p) 0.00 Assets / Equity Ratio 5.17
Dividend Yield (%) 0.00 Price to book value 0.27
Dividend Cover 0.00 SROCE (%) -30.85
Earning per share (p) -0.98 EPS Growth (%) 44.63
52-week high / low (p) 1.43 / 0.23 DPS Growth (%)

Weatherly International Broker Views

Date Broker Rec. Price Old target price New target price Notes
02 May RFC Ambrian Speculative Buy 0.95 1.30 1.30 Reiterates
19 Apr finnCap Buy 0.95 1.10 1.10 Retains
27 Jan RFC Ambrian Speculative Buy 0.95 1.20 1.30 Reiterates
16 Jan finnCap Buy 0.95 1.10 1.10 Retains
12 Dec RFC Ambrian Speculative Buy 0.95 1.20 1.20 Reiterates

Weatherly International Director Deals

Weatherly International Company News

WTI says Tschudi copper cathode output below nameplate

Weatherly International said Tschudi production for the quarter to end-March came in at 3236 tonnes of copper cathode, 24% below nameplate.

C1 costs for the quarter increased to US$5907 per tonne.

Weatherly added, as noted in February, that the first repayment of Facility B and the repayments of Facility C and Facility D due to Orion Mine Finance (Master) Fund I LP (Orion) were all due on 30 April 2017.

"Following discussions between the Company and Orion, which is also the Company's largest shareholder, Orion and the Company have agreed in principle to defer the payment of these installments and, as a loan rescheduling fee, effect an offtake agreement amendment.

"Finalisation of definitive documentation for these arrangements is underway and is expected to be concluded within a short period."

Weatherly said that if copper prices remained at current levels it was unlikely it and subsidiaries would generate sufficient surplus cash to meet all loan repayments when due and planned capital expenditure to support achieving production and operating cost targets.

"The Company continues to positively engage with Orion on the subject."

At 9:21am: (LON:WTI) Weatherly International PLC share price was -0.1p at 0.35p

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Weatherly International issues Tschudi output update

Weatherly International has noted reduced copper cathode output at Tschudi for the March 2017 quarter, with the 3236 tonnes produced being 24% below nameplate.

It issued a revised production guidance of 14,500-15,000 tonnes of cathode for the financial year ending June 2017.

The company also noted that slower-than-anticipated leach rates for mixed oxide/sulphide ore stacked during latter parts of 2016 and early 2017 were achieved, reducing the amount of copper harvested.

"Above average seasonal rains during the quarter prevented short-term acceleration of mining and stacking to compensate," said Weatherley.

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FLASH: Weatherly International issues Tschudi output update

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Weatherly Int'l's H1 pretax loss steady

Weatherly International has booked an H1 pretax loss of $11.3m, which is steady compared to the prior year's loss of $11.4m.

Although revenue more than doubled to $37.8m, from $15.9m, there was higher cost of sales, other operating expenses and finance costs.

The Namibia-focused copper-mining company said a total of 11.25m tonnes of ore and waste was mined in the half.

Tschudi production of copper cathode for the half year was 8137 tonnes, while production C1 costs were $4603 a tonne.

Weatherly added the groundwater situation was under control, with detailed work continuing to design a long-term groundwater solution to reduce production risks and operating costs.

The company continued to investigate the opportunity to resume production, at sustainable unit costs, at Otjihase and Matchless.

It separately said that it had formally concluded a further amendment and restatement agreement with Orion Mine Finance (Master) Fund I LP (Orion) in relation to the facility agreement between Orion and the Company's subsidiary Ongopolo Mining Ltd.

At 9:37am: (LON:WTI) Weatherly International PLC share price was -0.13p at 0.68p

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FLASH: Weatherly Int'l's H1 pretax loss steady

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