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Recent ShareScene.com Radio Broadcast (Wed, 12 Jul 2006 2:00PM):


EZE - The Digital Movie Revolution - Mr Richard Burt, CEO EXCELLENCE IN UPSTREAM ENERGY


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In reply to: macrae on Friday 28/07/06 12:31pm

Macrae thanks for the continued update. I am with you on this one and thought their fourth Q cash flow was very promising and points towards a profitable business in the near future excluding their WTI holding. regards crookers

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Announcement out: http://www.sharescene.com/html/emoticons/lmaosmiley.gif


RNS Number:8581G

Weatherly International PLC

28 July 2006


Weatherly International plc ("Weatherly")


Acquisition by Weatherly of Ongopolo Mining and Processing Limited ("Ongopolo") and further placing of new ordinary shares with institutional investors


The Board of Weatherly is pleased to announce that following the completion of the Ongopolo acquisition and in response to investor demand, an additional

23,090,000 new ordinary shares have been placed with institutional investors at a price of 17p. This placing will raise ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚£3.75 million for Weatherly net of expenses. These funds will be used to enable Weatherly to expedite the expansion of Ongopolo's second furnace, develop a completely new mine in the Tsumeb area, and progress a number of other developments such as zinc slag retreatment.


Following the raising, the Weatherly group will have cash balances of ÃÆâ€â„¢ÃƒÆ’ƒÂ¢Ãƒ¢Ã¢Ã¢â€š¬Ã…¡Ãƒâ€šÃ‚¬ÃƒÆ’…¡ÃƒÆ’â€Å¡Ãƒƒâہ¡ÃƒÆ’‚£13.5 million and minimal external debt.


Application has been made for 23,090,000 ordinary shares to be admitted to trading and it is expected that trading in the new ordinary shares will commence on the AIM market of the London Stock Exchange on or around 2 August 2006. Following admission of the new ordinary shares to trading, Weatherly will have 38,919,349 ordinary shares in issue.


CEO Rod Webster said, "We are delighted to have completed the acquisition of Ongopolo. We look forward to securing the future of the mine and its workers. The acquisition establishes Weatherly as a copper producer of substantial potential. In addition to the existing mining and smelting operations in Ongopolo which are planned to be brought back to full production, there are a number of other prospects within the Ongopolo group which may add substantially to its longer-term potential. The additional funds now being raised should enable us to bring these to fruition earlier than originally anticipated."

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