https://www.miningweekly.com

Weatherly narrows interim loss

19th March 2018

By: Simone Liedtke

Creamer Media Social Media Editor & Senior Writer

     

Font size: - +

JOHANNESBURG (miningweekly.com) - With a continuing upward trend in the copper price in 2017, Namibia-focussed Weatherly International narrowed its loss for the six months to December 31 to $5.9-million, compared with a loss of $11.2-million in the six months to December 2016.

Revenue after royalties for the six-month period as $47.7-million, 26% higher than in the comparable period in 2016, reflecting the increase in copper price.

Weatherly had unrestricted cash as at December 31 last year of $3.4-million, with a further $3.8-million received on January 3 this year, against inventory shipped to port, compared with $6.3-million as at June 30, 2017.

The company also generated $3-million of operating cash flow after an increase in inventory of $5.5-million.

Meanwhile, the company's Tschudi mine produced 8 844 t of copper cathode in the six months to December 31, with the mine having experienced a "particularly strong" second quarter, during which it produced 4 739 t of copper cathode - 11.5% above nameplate capacity.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Projects

Latest News

Showroom

Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 
Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.131 0.168s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: