re: wti soaring 21.5p now 22.50p Announcement out:RNS...

re: wti soaring 21.5p now 22.50p Announcement out:

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 £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 £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."