Up she goes to 17c. Massive volume and up on the AIM tonight....

Up she goes to 17c. Massive volume and up on the AIM tonight.

31.10.2006

LONDON (AFX) - Weatherly International PLC reported a pretax loss of 410,000 stg for the period from January 1 to June 30 2006, compared to a full year loss of 778,000 stg for the financial year ended December 31 2005. Loss per share was 0.23 pence compared to 2.22 pence.The results do not include the impact of the mining group's reverse takeover of Namibian copper miner and smelter Ongopolo Mining and Processing in July 2006; the firm consequently changed its accounting year to end on June 30.Weatherly said that it had seen 'significant early progress in increasing production from Ongopolo's mines' and has recommissioned its Tsumeb smelter ahead of schedule, making the company immediately profitable at these levels of throughput.'There is still considerable improvement required to restore mining and smelter production to previous levels and to achieve our new targets,' said the firm. 'Nevertheless, there is no doubt that we have made an excellent start. Consequently, we are confident of steady and ongoing improvement.'[email protected]