https://www.miningweekly.com

Weatherly reports technical issues at Tschudi, shares suspended

17th February 2015

  

Font size: - +

JOHANNESBURG (miningweekly.com) – Aim-listed miner Weatherly International has produced the first copper cathode at its Namibia-based Tschudi project's electrowinning circuit.

However, the company reported in a statement to shareholders on Tuesday that there were a number of operational and technical issues at the low-cost openpit mine, adding that it had requested a temporary suspension in trading of its shares on the London Stock Exchange.

The issues related to initial recovery of copper from the heap leach pads, which required the company to undertake further investigative work.

The results of this were being assessed in terms of the potential to affect the performance of the project.

Weatherly would also discuss this with Orion Mine Finance, its project lender, who had a secured loan over the project.

Subject to the results of the investigative work, the company would be defining a course of action, in conjunction with its project lender, whose consent was required under the terms of the company's financing arrangement. Accordingly the company's current financial position was subject to significant uncertainty.

Weatherly’s shares would remain suspended in the interim.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Latest News

PGMs and green hydrogen make headlines
PGMs and green hydrogen make headlines
19th April 2024

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

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:0.259 0.3s - 112pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: