WTI has broken out and sos has Ezestream IMO. Update...

WTI has broken out and sos has Ezestream IMO. Update soon.

Weatherly International plc (the “Company")

WEATHERLY INTERNATIONAL COMPLETES THE DISPOSAL OF NON-CORE MINING INTERESTS FOR OVER US$10 MILLION

Weatherly International plc (“Weatherly”) is pleased to announce that it has completed an agreement for the sale of two non-core assets in Namibia, namely the Khorixas mining lease and the entitlement to the 15% stake in the Ondundu JV, both held by Weatherly’s Namibian subsidiary, Ongopolo Mining and Processing Limited (“Ongopolo”). The assets have been acquired by TSX-listed exploration and development company, Forsys Metals Corp (“Forsys”). In addition, the option to acquire the remaining 10% of the Valencia Prospect Licence also held by Ongopolo has been exercised and is now 100% owned by Forsys.



In consideration for the transfer of these assets, the Weatherly Group has received 2 million shares in Forsys plus a cash payment of US$1 million.



Given today’s share price of Forsys, the total value of the transaction is in excess of US$10 million.

The Chief Executive Officer, Mr Webster said “We are delighted to have been able to further cement our relationship with Forsys and to acquire a valuable stake in that company. This transaction has further served to consolidate Weatherly as a major player in the African mining industry with its widening range of copper, zinc and uranium assets.”

Separately, Ongopolo and one of the Forsys group companies have also entered into a joint venture for the exploration and development of the Elbe copper prospecting licence in Namibia.