Weatherly Int'l reduces FY pretax loss

Weatherly International has reduced its FY pretax loss to $10.6m, from a loss of $13.5m. Revenue was $63.7m, from $38.1m.

"Whilst the Board is confident in the Company's assets and its management team, the external environment and prevailing sentiment surrounding copper remains challenging," said chair John Bryant.

"Optimising the strategic foundation that Tschudi provides while seizing all available opportunities to conserve cash are top priorities at this point in time," he said in a statement.

"However, the Company will also cautiously advance plans to realise value from all other assets in its portfolio wherever it is prudent to do so, and the Board will continue to seek to position the Company well to extract maximum advantage from higher copper prices."