I think this one is oversold, and is must BUY @ at level!

Broker target on 25th July of 1600p. Previous target was 1800p, so not such a good deal any more.

down another 20%

this is a complete disaster.

It would be a bit ironic if the remaining banks survived and the miners went bankrupt!

AQP is a must SELL...see original thread on AQP

Aquarius' Everest platinum mine to shut for 6 mths
AFX


JOHANNESBURG, Dec 15 (Reuters) - Metals miner Aquarius Platinum said on Monday the Everest mine it had suspended last week due to geotechnical problems would remain shut for at least six months.

'Following a comprehensive assessment of the options available to mine management, and primarily focussing on the future safety of the mine and its personnel, the decision has been made to suspend operations for a minimum of six months,' it said in a statement.

Opened a trade here this morning.

Spot price is nicely up and aqp is showing signs of recovery.

Bought them whilst sp is in the red. Good tactics or not!!!!!!!!!!!!!!!!!!.

GOOD, if I say so myself.

Where is everyone?????.

Gosh i never realised it had got so quiet in the world of PIs.

Shows what a bear market does, still plenty of pickings for them first in.

Aquarious Platinum broken out in spectacular fashion over the last 48 hours.

Been confined to range bound action before this. Should go on and takle old resistance levels now. See long term chart.....

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Long term chart.....

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Chart for platinum which hit a new high this afternoon.....



bodes well for AQP.

I have been serious about this since August adding all the time, I agree with you the action today was spectacular, and had the general market been positive we would have been through 4 "barrier".The rise in the metal was equally spectacular today.
Surprised not more interest from other campers on this one!

Sorry, Goldfinger, Nice Charts, Thanks!

No probs Pointdexter i share you enthusiasm and good taste on this stock.

I reckon we are going for p and pretty quickly looking at the steepness of the fall down from this resistance level.

Will be topping up tomorrow aswell at some time hopefully first thing as it rises up.

cheers.

Recent comment from pro chartists Zak Mir on AQP..........

Zak Mir



Reged: 28/06/07
Posts: 1143
Re: Aquarius Platinum.(AQP).
#456865 - 25/11/09 08:16 AM Edit Reply Quote



Shares in AQP have been in a rising trend channel since the end of August, and while above the 10 day moving average at 330p one would expect the upside for the stock to be the top of the rising channel as high as 400p by the end of this year.

Cant get much more bullish on a stock than this ...... from Bar Chart site...

http://quote.barchart.com/texpert.asp?sym=AQP.LS

That's a very interesting & complex site, imo, gf. I have punched in a few tickers to see what results I get & interpretation is very difficult, unless of course ALL pointers say the same thing, as in AQP. One for the skilled trader, imo, but definitely a TRADER site, not an investor site. (What I mean by that is if you punch in an exploration Co, there is no allowance made for news flow, it's purely technical analysis).
As an example with AQP (as has already happened), if there was bad news from one of their sites, such as a mining accident, or power outage from the S.A. grid & therefore reduced output, the chart analysis would not alert you to that.
However, amazing that platinum has gone from $2200/Oz down to $800/Oz and now crept back up to $1500/Oz. Lets hope they don't find a cheaper substitute for catalytic converters anytime soon!

Hi HarryC, yep purely TA but found it to be fairly reliable in the past.

Off to a solid start.

Good morning,
I too found the Bar Chart site interesting! Nice start am going to add today as soon as the spread gets a little more sensible. I can see 4 breaching very soon if the market takes any notice of the far east whatsoever!

Down 3.5% this morning which must be a bit of a shock to the traders of this stock? Presumably running a very tight stop & ready for a bounce???

Woulsnt say a shock harry giiven the high beta of the stock but alittle dissapointing after a good start.

i remain long.

just look at the steep incline we have to negotiate on the long term chart.

you know what they say what comes down...goes back up again.... and pretty quickly here.

Woulsnt say a shock harry giiven the high beta of the stock but alittle dissapointing after a good start.

i remain long.

just look at the steep incline we have to negotiate on the long term chart.

you know what they say what comes down...goes back up again.... and pretty quickly here.

I'm relaxed about it as well, although suspect profit taking as platinum price up again, marginally compared to yesterday. Am awaiting 358p before adding more.
DOW looks set for positive opening after jobless figures etc so maybe now is the time for me, the suspense is making me twitch!

Got 361.6 let's see if it's the right call!

Not quite! What an extraordinary day for AQP. If anyone can explain why I would love to hear. Maybe a brokers recommendation is lurking, the metal seems strong, and the buy/sell % of 50/49 does not explain it either. I am mystified. As Montgomery Burns said "I would give up all my wealth for just a little bit more!"
Let's hope for better things tomorrow.

It seemed to follow the trend though with other metals miners, FRES, RRS, RIO, XTA all down 2-3%. Even POG & KAZ were down but only by a very small %age.

Thanks for that H.Not too worried about general correction, and as you say the "big" boys also felt the breeze, however still can not quite understand it. However like Goldfinger I am "long" and have been building since the stock was 2.79 so this adjustment not a big deal in the scheme of things. I hope.

Sounds like you are building & holding stock though Pd. I think gf is actively trading either stock or SB/CFD. 'Long' is good though; I think I agree with that.

Spot on Harry.

Still remain long and know through general experience that this is a little volatile devil although like everyone i have my limits on how much Im prepared to lose.

More or less spot on, although apart from the stock I have beed trading CFD's all the way up, anyway whatever the position I remain optimistic about the stock med/long term. Support level seems to be 358p or thereabouts.

How do you like that!

Mirrored the FTSE chart.

Patience paying off.

Indeed.What a nice one.Now we need a pair of bouncers!

are you still talking shares......?

Sorry, losing it a little must be Friday!

Sharp drop in gold (strengthening $). Watch out.

Good point made Harry.

Reckon most our out on the sherberts this afternoon, xmas partys and all that.

What a limp response here to good news in the US.

Especially the FTSE 250.

Are we going to get the xmas bounce this year???????? makes you wonder doesnt it.

All you guys 'long' been stopped out?
Precious metals taking a bit of a short term hammering.

Not yet Harry but not far off.

You are right.

how come, hlyeo most of the stocks you comment on and I hold end up going down....?? lol

Platinum and gold prices are going down fast... AQP is crashing.

Apparently platinum price is overblown according to analysts. This is the expected correction.

BB, so you own DES, RKH, BOR and FOGL?

ha...No your ok.

Reasonably good historical support between 340/360p and also 200 DMA. Would like to see upward movement from here.

so would i..

Sell AQP as 5 fatalities yesterday at Marikana Mine may cause another major drop in sp. Recent 2 deaths at Blue Ridge Mine has caused a drop from 400p.

Actually it was because the miners all went down but perhaps that escaped your notice!

thanks hlyeo...got hold on even longer now, wish i could sell.,.

Also Blue Ridge mine closed for two weeks after death of two miners. Looks like production targets will be hit & maybe worse if the Health & Safety Board close them down for an even longer period.

StockMarketWire.com
South African mining group, Aquarius Platinum says that a preliminary assessment of yesterday's accident which resulted in five fatalities indicates that the fall of ground that occurred in 4 Shaft was the result of a block of rock weighing approximately 500 tonnes falling instantly from the hanging wall.

Operations at 4 Shaft remain suspended and management expects to be able to present the results of an investigation to the Department of Mineral Resources within two weeks.

CEO Stuart Murray comments: "This tragic accident is the worst such incident in AQPSA's history, and our thoughts are with the family and friends of the men who died.

"Prior to this incident, Marikana operations had completed over 800,000 fatality-free shifts, which is the equivalent of 18 months without a fatal accident. This is among the best safety records in the industry, and the safety of our personnel remains of paramount importance to us. "

The fatalities at the Marikana 4 shaft on Tuesday could result in Aquarius Platinum coming under closer scrutiny from the Department of Mineral Resources in South Africa and may lead to more suspensions of operations, Panmure Gordon speculates.

Whilst the direct impact on production is likely to be limited we expect an indirect impact from more frequent safety-related stoppages and are reducing our FY2011E [fiscal 2011 estimated] production forecast by 1% and EBITDA [earnings before interest, tax, depreciation and amortisation] by 2%, the broker said.

The Mariakana tragedy follows two fatalities at Blue Ridge in the past month. As well as increased scrutiny from the authorities, Aquarius may also find itself dealing with anxious workers if the situation is not carefully managed, Panmure analyst Alison Turner argues.

The broker rates the stock a sell and has a target price of 300p.

Instruction from the Principal Inspector of Mines

"Aquarius Platinum Limited advises that its subsidiary Aquarius Platinum South Africa Limited has received an instruction from the Principal Inspector of Mines in the North West region of South Africa to the effect that all mechanised bord-and-pillar mines in the North West region are to revise their mine Codes of Practice, and reduce all bord widths in their shafts from 10 metres to 6 metres. This will apply to AQP SA's Kroondal and Marikana operations.

The relevant extract of the instruction reads as follows:

"...all mining companies in North West region employing the bord and pillar
mining method are instructed in terms of Section 9(7) read with Regulation
7.4.4 still in force in terms of Schedule 4 of the Mine Health and Safety Act
(Act 29 of 1996) as amended, to immediately review the Code of Practice for the
prevention of rockfalls and rockbursts in metalliferous mines, related mine
standards and procedures to cater for more effective safety measures including
but not limited to:

* Maximum mining bord width of not more than 6 metres;

* Extraction ratios should not exceed 75 percent;

* Supporting of prominent geological features by pillars;

* Boxing of roadways must be towards one direction;

* Orientation of leads and lags between headings must almost be aligned for
the purposes of effective ventilation

Until such time that the aforesaid review is conducted, no headings/faces of
more than six (6) metres bord widths should be advanced for the purposes of
production. All mines employing the bord and pillar mining method where bord
widths exceed six (6) metres must notify the office of the Principal Inspector
of Mines on their action plans to convert to more safer and conservative mining
parameters."

Aquarius is assessing the impact of these instructions, which may take some
time. AQP SA is also urgently consulting with government and the other mining
companies affected by these instructions. We will inform shareholders once this
assessment has been made."

Big slide as inspectors coming in to assess safety...

This has to be a good short now as safety is really in question as to the death of miners.

thats not what i want to hear thank you.,.

Cut losses before it gets much worse.

I don't agree to 'Sell now' if holding a loss. Platinum will always be in demand & will increase as car production bounces back. I am happy to hold & add when this particular episode is over. It's not the first (Sadly) & the stock has always recovered well.

Platinum price will rise obviously but AQP mines may be shut for inspection for considerable duration of time for safety inspection and this will greatly affect AQP's production and profits.

have lost half of input so will stay put.,.

First Blue Ridge, then Marikana, fatalities after fatalities, this was very obvious a sell from 6/7/2010 when sp was 330p.

Profit warning very likely for AQP now... SELL.



Aquarius Platinum slumped 15 per cent to 256p on word that South African government officials had called its chief executive away from an analysts site visit on Thursday in the wake of a fatal accident at Aquariuss Marikana mine.

The group confirmed after the close of trade that the South African mines inspector had laid out a new safety code and it was assessing the impact.

Liberum Capital called the move a potentially seismic shift for South African platinum producers. The higher costs and lower production involved in complying could cut Aquariuss 2011 earnings by between 24 and 28 per cent, it said.

Canaccord Genuity cut Aquarius stock from buy to sell. If this change in legislation persists, mechanised mining will become less profitable, and as such Aquarius business model is at risk, it said.

This is so expected... 225p now.
Cut losses is the strategy here as downtrend will continue.

buy buy buy.,.

when it's 100p.

Appeal against mining directives very likely to be rejected and will see it fall drastically soon.

Appeal Process Update.

Aquarius Platinum Limited ("Aquarius" or the "Company") advises that senior representatives of Aquarius Platinum (South Africa) (Proprietary) Limited ("AQPSA") and senior representatives of other mining companies in the North West Province which received the Directive referred to in the Company's preceding announcements on 16 and 19 July 2010, met with the Chief Inspector of Mines and other senior officials in the Health and Safety Inspectorate of the Department of Mineral Resources ("DMR"), to discuss the Directive and if appropriate, to lodge an appeal against the Directive to the Chief Inspector.

The meeting with the DMR was positive and constructive, and the Company is, together with its international mining consultant, reviewing mine design and support parameters to present best practice guidelines to the DMR in respect of each of its mines individually. In the interim, AQPSA will continue to apply its existing mining techniques and will shortly present to the DMR interim safety measures which AQPSA intends to implement to ameliorate the threat of fall of ground incidents, pending the outcome of the aforementioned exhaustive review.

just bought a few as looks overdone last few weeks.

Nicely done Kate. Well in the money now. Would be tempted to take profit somewhere near the 300p level, maybe?

StockMarketWire.com
Aquarius Platinum said today revenue increased by 52% to $472.2m in the year to end-June, up from $310.6m the previous year.

Mine operating net cash flow increased six-fold to $94m (2009: $12m) and mine EBITDA increased by $175.5m to $145.1m (2009: -$30.5m).

Adjusted net profit was $62.1m (before exceptional charges) and reported net profit increased by $73.5m to $27.8m (6.09 cents per share).

The group cash balance at the period close was $381.7m, an increase of $228.1m on the prior year.

A final dividend of 4 cents per share was declared, taking full year dividend to 6 cents per share (2009: nil).

Group attributable production (including Blue Ridge) was 422,645 PGM ounces for the full year, despite the Everest mine closure for the most part of the year.

StockMarketWire.com
Aquarius Platinum raised to outperform from sector-perform at RBC, TP 350p up from 330p.

Looks like Hyleo picked the bottom to go short, silly girl

AQP goes ex-divi wed 8th Sept '10, 4.

Nice strong graph over the last few months. Hoping the sp will stay above the 200 DMA ready for the next surge upwards.

I think this will retrace down to 300p.

Brave call. Reasonable support at 340 I would have thought.

Worldwide economy is pretty dim and I think 2011 will see a double dip. The share market has gone too far upwards without much good news or reason to do so.

High commodity prices and a recovery in the auto industry should help though. Amazing to see how brief an impact the death of a few workers & the change in the safety/pit prop rules has on the sp. How short a memory we all have.

Dow is slumping and commodity prices are affected too... AQP is going down...

only resting before surging to 4.60..........live in hopes.,.

Thought it ought to be pointed out that this one has been on a steady climb all the week, if it continues next week 4+ on the cards and back in profit.

StockMarketWire.com
Aquarius Platinum said for first quarter attributable production increased by 12% quarter-on-quarter to 123,392 PGM ounces, with record production at Mimosa.

Most average PGM Dollar prices deteriorated through quarter - platinum down 5%, rhodium down 17%, while palladium was unchanged.

The Rand strengthened against the Dollar by 3% on average and by 8% over the quarter.

Costs were down or flat in local currency terms compared to the previous quarter at all operations except Marikana.

On-mine EBITDA for the quarter was $39.2m.

Net operating cash flow was $39.8m.

Net profit after tax for the quarter was $42.4m.

Stuart Murray, CEO, said: 'The first quarter of our 2011 financial year had a tragic start, with the terrible accident at our Marikana mine in which five men lost their lives.

'The remainder of the quarter was a good one, despite a challenging Rand pricing environment. Our operations performed strongly during the quarter, for the most part. Everest is ramping up nicely, Rand costs were largely contained, Mimosa achieved record production and the tailings operations both enjoyed much improved recoveries. As a result, production is on track to achieve our previous guidance for FY2011.

'Progress was also made at Blue Ridge, with a Board decision to place the mine on care and maintenance for redevelopment, which is now underway. Continuing Rand strength remains an issue and average

'Dollar PGM prices fell over the quarter, but the Company has done well to manage the aspects of its business that are within its control and I believe the outlook for the rest of the year is on track for Aquarius.

From Merrill Lynch:
"Platinum sector targets raised, Aquarius upgraded to BUY.
We move our platinum price forecast above $2,000/oz, 2011-2013 inclusive, and report significant upgrades to our rand PGM basket price over this period. Broadly speaking, the impact to DCF is relatively muted as we have reduced our long term basket price (2017) on stronger rand assumptions. Aquarius, the anomaly in this regard, reports the largest upgrade to DCF (+27%), due to its shorter life-of-mine and hence weighting of near-term cash flows as a driver of NPV. We set a price objective of GBp500/sh for 26% upside, and lift our rating from Neutral to Buy."

I won't be sorry to see sp rise, been stuck here at 4.60 for too long.

needed to see that hlyeo...

Well, it's been a good day.

Am hoping it will sail past the 400p level this time.

Tis very sluggish compared to the other miners

StockMarketWire.com
Aquarius Platinum initiated with neutral rating at Credit Suisse, target price 370p

SECOND QUARTER 2011: PRODUCTION RESULTS
Highlights

- Attributable production increased by 3% quarter-on-quarter and by 14%
compared to Q2 2010, to 127,579 PGM ounces

- Average PGM Dollar prices improved through quarter - platinum up 9%,
palladium up 37% and rhodium up 2%

- The Rand strengthened against the Dollar by 6% on average and by 5% over
the quarter

- Weighted average cost per PGM ounce improved by 13% in local currency
terms compared to prior quarter

Broken through the 4 mark again.....can it continue?

StockMarketWire.com
Aquarius Platinum has confirmed its Zimbabwean operating subsidiary, Mimosa Mining Co, is holding talks with authorities on establishing a position that will be compliant with the country's Indigenisation and Economic Empowerment Act.

Panmure Gordon's take on the political situation in South Africa:
"Nationalisation will be a key political issue for 2012. We believe that the results of this
survey support our view that investors should not be complacent about the threat of nationalisation in South Africa. Julius Malema is clearly not alone in his views on this issue, and we strongly believe that nationalisation will be a key political battleground in the 2012 ANC leadership race.
Politicians cannot afford to alienate 45% of black voters. Our view is that even politicians who are against nationalisation may find themselves seeking a compromise position which will not alienate the 45% of the black voter base which supports nationalisation that may not be an immediate 51% state stake in mining companies but it may well be a majority state ownership in new mining new projects and a gradual move towards state participation in existing companies.

Most impacted: Lonmin, Aquarius Platinum, and Anglo American. In the FTSE 100, Lonmin is most at risk (with 100% of assets in South Africa) followed by Aquarius Platinum (with all assets in South Africa except for its share of the Mimosa mine in Zimbabwe) and Anglo American (42% of our DCF valuation in South Africa).

Acquisition of mineral rights

Aquarius Platinum Limited is pleased to announce the acquisition of platinum group metal ("PGM") mineral rights by way of the purchase of Afarak Platinum (Proprietary) Limited ("Afarak"), a private company incorporated in South Africa, following the fulfilment of all conditions including the granting of Competition Commission approval last week. Following the Transaction, Aquarius will hold both directly and indirectly 74% of the outstanding share capital of Afarak, with the remaining 26% held by Watervale (Proprietary) Limited, an empowerment company controlled by Savannah Resources (Proprietary) Limited, Aquarius' major shareholder and Black Economic Empowerment partner of many years. The Company has an indirect 47% interest in Watervale.

StockMarketWire.com
Aquarius Platinum's wholly-owned subsidiary Ridge Mining (Proprietary) has suspended the funding of the jointly-owned Blue Ridge Platinum mine.

This follows a review of its economic viability in the current low platinum group metals rand price environment, pending a decision by the board of Blue Ridge to place the mine on care and maintenance.

Aquarius Platinum's wholly-owned subsidiary Aquarius Platinum (South Africa) (Proprietary) has completed an initial assessment of the costs and benefits of the expansion potential at the Everest Mine following the recently announced acquisition of Booysendal South.

AQPSA has agreed to purchase a 41.7% interest in Platinum Mile Resources (Proprietary) from a combination of Mvelaphanda Holdings and PlatMile management for R115.5m, bringing the Aquarius group's holding in Platmile to 91.7%.

CEO Stuart Murray said: "It is pleasing to note that the significant benefits of the Booysendal South acquisition are becoming increasingly apparent, with preliminary indications that Everest can be extended and expanded with industry-leading capital efficiency.

"As a result the board has resolved to accelerate the feasibility studies and development in respect of the Booysendal project.

"The decision by Ridge to suspend the funding of Blue Ridge was not an easy one to take, but it was based on the firm belief that it is in the interests of all stakeholders in the mine that it be placed on care and maintenance with immediate effect.

"The findings of Blue Ridge management during the redevelopment project coupled with the current economic realities of the platinum industry in South Africa strongly suggest that the mine would be loss-making from some time to come. Under the circumstances, any other course of action would be financially irresponsible for the wider group."

StockMarketWire.com
Aquarius Platinum's attributable production for the fourth quarter increased by 3% year-on-year to 114,260 PGM ounces.

But average PGM dollar prices deteriorated in the quarter with platinum flat, palladium down 4% and rhodium down 11%.

CEO Stuart Murray said: "The final quarter of the financial year has been exceptionally busy for Aquarius.

"On the corporate activity front, we successfully negotiated and signed three significant transactions during the period, two of which have the effect of increasing the Aquarius resource base by approximately 50%, and which we expect to help extend the mine lives of all of Aquarius' South African operations.

"The company is now uniquely well placed to benefit from growth into an improving medium term PGM price environment."

UBS has said that Aquarius Platinums fourth quarter was a disappointing one in production terms, and cuts its target price from 320p to 300p.

Attributable platinum group metals (PGM) production fell by 7% quarter-on-quarter to 114koz, 11% below consensus and under UBSs target of 140koz.

The broker keeps it neutral rating on the miner, saying that with the exception of the Mimosa project in Zimbabwe, operations disappointed across the board.

StockMarketWire.com
Aquarius Platinum said this morning that revenue increased by 45% to $682.9m in the year to end-June (2010: $472.2m) and headline earnings (before exceptional charges) increased more than fivefold to $142.8m (2010: $23.6m).

Mine operating net cash flow increased by 44% to $162.3m (2010: $112.8m) and mine EBITDA increased by 40% to $203.2m (2010: $145.1m).

Headline EPS was 30.85 US cents per share.

There was an asset impairment of the Blue Ridge mine (non-cash) of $159.8m following cessation of operations.

The company reported net loss was $10.4m as a result of the Blue Ridge impairment.

Group cash balance at FY close was $328.1m.

A final dividend of US 4 cents per share was declared, taking full year dividend to US 8 cents per share (FY2010: US 6 cents)

Group attributable production increased by 15% to 487,404 PGM ounces for the full year.

US Dollar PGM prices increased materially, but this benefit more than offset in South Africa by a strengthening Rand-US Dollar exchange rate.

Weighted average on-mine unit cash costs in South Africa increased by 12% in Rand terms.

StockMarketWire.com
Workers at Murray & Roberts Cementation - a contractor at Aquarius Platinum's Everest mine in South Africa - have gone on strike.

The strike has been called by the Association of Mining and Construction Unions, which is demanding full organisational rights from MRC under the South African Labour Relations Act.

Aquarius says this is a technical dispute between the union and MRC, and no demands are being made of Aquarius or its subsidiaries.

MRC is a contractor to Aquarius Platinum (South Africa) (Proprietary) Ltd.

StockMarketWire.com
Aquarius Platinum Limited (LON:AQP) today announces that as part of the continuing negotiations between its indirect 50% subsidiary Mimosa Holdings and the Government of Zimbabwe relating to its compliance with the Zimbabwean Indigenisation Act, Mimosa today signed a Deed of Trust incorporating the Zvishavane Community Share Ownership Trust.

The beneficiaries of the Trust include the communities surrounding the Mimosa mine and the Deed of Trust is expected to form an integral part of the overall Indigenisation Plan being developed between Mimosa and the Government of Zimbabwe.

The Deed of Trust coming into effect and the issuing of equity in Mimosa to the Trust is an indivisible part of a final Indigenisation Plan on which Mimosa and the Government of Zimbabwe remain in discussions. The final terms of the Indigenisation Plan will be announced as soon as this process is concluded.

"final Indigenisation Plan " - sounds ominous :-)

Only if you are of caucasin origin methinks!

Revenues down 25% - bad news

Aquarius Platinum in the red as output falls


Aquarius Platinum plunged into the red in the six months to the end of December with net losses of $113.5m against a net profit of $94.3m last time.

The result includes a foreign exchange loss of $91m arising substantially from the revaluation of intercompany loans within the group.

Revenue fell by 25% to $252m and mine earnings before interest, tax, depreciation and amortisation decreased by 69% to $29m.

This was due to challenging operating conditions experienced at the Group's South African operations, increased mining costs and lower PGM metal prices.

Group attributable production fell by 14% to 215,453 PGM ounces (H1 2011: 250,972) but the average US dollar PGM Basket Price was stable compared to the previous corresponding period despite US dollar PGM prices weakening over the half year due to deteriorating macroeconomic conditions.

Time to sell. Very bad report from profit to losses.

Aquarius Platinum's Chief Executive has admitted he 'could not have been more wrong' about the worst being behind the company as it plunged into the red, hit by the ongoing difficult operating and trading conditions facing the company and the southern African platinum industry.

A profit before tax of $130m in the second half of 2010 turned to a loss of $135.7m in the same period in 2011, while revenue was $252.4m, down from $336.2m the previous year.

Chief Executive Officer (CEO) Stuart Murray maintained that the results should "come as no surprise to shareholders" even though he has previously stated that the firm was through the worst.

"I could not have been more wrong," said Murray, who presumably has not heard of Murphy's Law, which states that anything which can go wrong will go wrong.

"Until we reach a turning point, we remain committed to the constant re-evaluation and optimisation of all aspects of our business and operations in the current low margin environment with a focus on cash preservation," Murray added.

He continued: "From an operational perspective the period under review has been a most challenging one, but it must also be remembered that the reported net loss and resulting negative earnings per share (EPS) figure are rather exaggerated by a substantial non-cash foreign exchange loss generated by the revaluation of inter-company loans as a result of volatile exchange rate conditions."

EPS fell from 20.43p to -24.31p year-on-year, while cash at the end of the period was $230m (2010: 368.5m). The Rand weakened by 7% on average against the dollar.

Outlook uncertain for H2 Aquarius


The junior miner faced production challenges over the six months ending in December due to section 54 safety stoppages, rising production costs, lower platinum group metals (PGM) prices and delays from its contractors.

"The majority of the knock came from safety stoppages with most of these coming from Kroondal and Marikana," Aquarius Chief Executive Officer Stuart Murray said.

The group's production decreased by 14% to 215,453 PGM ounces for the six months ending in December.

EBIDTA dropped by 64.1% to US$29 million over the period.

Aquarius did not declare an interim dividend as a result of its cash conservation plans.

Kroondal, which accounted for 41% of Aquarius' PGM output, produced below its capacity over the interim period due to delays in production as the mine installed new hanging wall support.

Murray added that although operations at Mimosa in Zimbabwe, contributed 21% towards total PGMs produced over the period, and they showed significant growth, political and legislative changes posed a challenge.

Decreasing metal prices caused a negative $25 million sales adjustment to be incurred.

Aquarius had to also grapple with fluctuations in the basket prices for PGMs, whose prices dropped from R11,000 an ounce to R9,700 oz in December.

"For ourselves over the next six months and year, we are busy getting to the end of the implementation of the new wall hanging support standards, and we do believe that we are seeing less fall of ground incidents in mines as a result, since that remains a major issue in South African mining, we believe it is the right thing to do." Murray said.

Aquarius Platinum will go to 100p...



Aquarius Platinum Ltd. (AQP.LN) said Friday that Zimbabwe's indigenization minister rejected its plan this week to meet the country's law requiring foreign miners to sell 51% of assets to government designated entities.

Rhetoric around the law, legislated in 2008 but now being implemented, is on the rise as President Robert Mugabe's ZANU-PF party seeks to drive elections this year and stir up popular support.

Aquarius said it received a letter dated Feb. 22 from the Minister of Youth Development, Indigenization and Empowerment, Saviour Kasukuwere, to inform the company that its proposal was rejected and that it had 30 days to fully comply with the law otherwise "enforcement mechanisms will be activated."

Aquarius wasn't immediately available to comment further.

"Aquarius is concerned to note the statement by the Minister and advises shareholders that negotiations with the Minister will be undertaken in an attempt to reach a mutually acceptable solution," the platinum miner said.

Earlier this week, the minister told media in Zimbabwe that it wanted Impala Platinum Holdings Ltd. (IMP.JO), which is mining and developing platinum mines in the country, to dispose of its shareholding in Mimosa, which it jointly runs with Aquarius.

"In light that [ZANU-PF] want to hold elections this year, no doubt we will see rhetoric," Impala chief executive David Brown said last week, adding the election push will "cloud" the indigenization talks.

StockMarketWire.com
Aquarius Platinum is to hold talks with the Zimbabwe government over the indigenisation implementation plan for the company's subsidiary, Mimosa.

Aquarius says Mimosa has been advised by the Zimbabwean minister of youth development, indigenisation and empowerment that a portion of its IIP has been rejected.

Aquarius is concerned to note the statement by the minister that unless an agreement is reached with the National Indigenisation and Economic Empowerment Fund to transfer the required shareholding to NIEEF within 30 days, 'enforcement mechanisms will be activated'.

Aquarius says negotiations with the minister will be undertaken in an attempt to reach a mutually acceptable solution.

Glad to say I only have 215 shares in this, it dosen't look very rosie and will have to bite the bullet soon I reckon.,.

Mugabe will be showing off his powers for the upcoming election, so Aquarius will most likely be facing more problems in Zimbabwe considering rising production costs, lower platinum group metals (PGM) prices and delays from its contractors.

Very bad news today for AQP.

Aquarius Platinum Limited

Financial and Production Results to 31 March 2012

Highlights


Average PGM Dollar prices increased in the quarter - platinum and palladium
rose 5% and 8% respectively while rhodium fell 8%

The Rand strengthened against the US Dollar by 4% on average quarter-on-quarter

Attributable production for the third quarter decreased by 7%
quarter-on-quarter to 97,802 4E ounces

Seasonal absenteeism, continuing Section 54 safety stoppages, labour "go-slows"
and poor ground conditions negatively impacted South African production

Net loss of US$9.4 million recorded on reduced production

Cash balance at quarter end US$207 million

New commercial arrangement reached with principal mining contractor, closer to
a cost-target basis and better aligning interests of both parties.


Commenting on the results, Stuart Murray, CEO of Aquarius Platinum said:

"The first quarter of the calendar year is always a difficult one, due largely
to seasonal absenteeism following the Christmas and New Year holidays. This
year was worse than usual, with the customary poor labour performance and
concomitant reduced number of shifts exacerbated by continuing Section 54
interference in our Rustenburg operations. At Everest, poor ground conditions
have not been helped by constant labour "go-slows" and the failure by the DMR
to grant the mining right to the Hoogland open pit, despite our application
being lodged over a year ago. These unnecessary operational and regulatory
headwinds are occurring against a backdrop of a pricing environment that
remains relentlessly tough, with unabated on-mine cost inflation, little
fundamental demand recovery and continuing volatility in financial markets. The
result is that margins are under severe pressure throughout the industry, and
it is my view that labour unions and the government need to start co-operating
constructively with mining companies immediately if the very sustainability of
the platinum industry and the thousands of jobs it provides is not to be
threatened.

There were some encouraging aspects to the quarter. A new and promising
commercial arrangement has been reached with our primary mining contractor, and
both tailings operations are now profitable. There does seem to be a decline in
the number and length of Section 54 stoppages, although it remains too early to
call it a trend. In Zimbabwe, Mimosa has continued to operate well despite
power supply disruption, and the mine is engaged in constructive discussions
with the Government over the final terms and structure of its compliance with
the Indigenisation Act.

We remain pragmatic about our business and the industry at large. Each asset in
our portfolio is required to generate a return to shareholders and to the
extent that they do not, we will take action as appropriate to ensure
sustainability and a return to profitability."

22 May 2012

Mimosa Safety Incident

Implats and Aquarius Platinum confirm that a fire occurred at the jointly owned
Mimosa operation in Zimbabwe during the night. This was caused when the
conveyor belt in the main decline ignited. The fire has been contained.

All employees have been accounted for and no injuries have been reported. The
majority of the workforce was evacuated following the incident. Initially 75
employees were accommodated in refuge bays due to low visibility. They are now
in the process of being moved to surface. This is expected to be completed
during the course of the afternoon.

At this stage, the extent of the damage and impact on production cannot be
ascertained. Further information will be communicated in due course.

StockMarketWire.com
Aquarius Platinum's 50%-owned Mimosa has advised that all employees have been safely evacuated from the mine.

No injuries have been reported.

Details concerning the extent of damage and impact on production will be made available in due course.

AQP has been quite a disaster... no bottom in sight. Zimbabwe is a dodgy place to invest.

.

Only 65p from 400p last year.

Marikana Commentary

Aquarius Platinum Limited advises that the partners in the Marikana Pooling &
Sharing Agreement ("P&SA2") have agreed in principle to place the P&SA2
operations on care and maintenance, due to the enduring low PGM basket price
environment. This decision has been made in the interests of preserving the P&
SA2 ore reserves until an improved economic climate merits their extraction in
the future.

As a result, Marikana 4 Shaft and the Marikana concentrator plant will be
placed on care and maintenance, and the remaining management functions at P&SA2
will be consolidated with those of the P&SA1 at Kroondal. Preparations for
these events have been initiated, and the required consultative processes will
commence today.

Trading conditions in the platinum industry are expected to remain difficult in
the short to medium term and these conditions have rendered the operations at
the P&SA2 uneconomic.

Further updates will be released as appropriate.

AQP is showing poor management strategy... first marikana in care and maintenance, now Everest mine in care and maintenance too... 53p now.

Operational Update
Aquarius Platinum Limited is pleased to provide the following update on its business, ahead of an investor and equity analyst site visit to its Kroondal mine to be conducted today.

The Board of Aquarius is endeavouring to pro-actively manage the business of the Company to deal effectively and responsibly with the continuing difficult trading conditions facing the platinum industry in South Africa. The Board has also recently approved the Company's budget for the 2013 financial year. In keeping with the policies of the Company, the budget is focused on cash conservation and the preservation of the Company's reserves and resources until economic circumstances merit their extraction. As a result, several material alterations have been made to the operating configuration of the Company to better enable it to endure the current economic environment. Some of these changes have been disclosed previously, while some are set out here for the first time. They are summarised as follows, with further detail set out below:

* Aquarius Platinum (South Africa) (Pty) Ltd ("AQPSA") and Murray & Roberts
Cementation (M&RC) have mutually agreed to terminate their contract mining
agreement, and as a result AQPSA will become an Owner Operator, to ensure
maximum future cost control and flexibility;

* Kroondal, Mimosa and the tailings operations will be optimised to maximise
cash flow generation;

* Blue Ridge, Marikana and Everest have been placed on care and maintenance;
and

* All non-essential capital expenditure will be suspended.

http://www.moneyam.com/action/news/showArticle?id=4402622

This is one of those companies that will go to less than 10p in the short term.

Aquarius Platinum has had an 'annus horribilis' so far, but the second half could prove better. The company is doing what is necessary to preserve its healthy cash pile and maintain cash flow while the platinum price environment remains low; cutting all non-essential capital expenditure, and placing all non-contributing assets on "care and maintenance" only. At the end of the first quarter, the company had around 28p per share in cash, and brokers' expectations for 2013 place the shares on a possible price-to-earnings (P/E) ratio of under 5.3. Despite these numbers, this still isn't a share for widows and orphans.

StockMarketWire.com
Aquarius Platinum's overall production of platinum group metals was marginally higher in the fourth quarter compared with the previous three months - but down on a year ago.

The group produced 98,143 ounces of PGMs in the three months to the end of June - up from 97,802 oz in the previous quarter but 14% down from 114,260 oz a year ago.

Chief executive Stuart Murray said: "The overall production figure for the fourth quarter was marginally better than that recorded in the prior period.

"Although this is a positive result, it includes the impact of winding down and suspending operations at Marikana and Everest, and as a result obscures the more material improvement in production volumes from Kroondal.

"We are confident that the new operational configuration of AQPSA will enable the Company to withstand the continuing downturn, and we expect that production from Kroondal will continue to improve, complemented as always by robust production from Mimosa and the modest margin contribution from our tailings operations.

"Our cash reserves of US$180m at 30 June provide us with sufficient funds to manage our operating mines over the next twelve months.

"The Everest Extension (Buttonshope) acquisition remains outstanding pending completion of various conditions precedent - the funding of this asset acquisition will be considered if and when the need arises.

"Unfortunately, as has been well flagged by many industry participants, the likelihood of industrial action over the South African winter is high, largely as a result of inter-union rivalries.

"Aquarius is by no means immune to this threat, and intermittent unlawful industrial action has occurred at one of Kroondal's four shafts in July.

"We are working hard to resolve this in order to return to uninterrupted production as soon as possible."

Only 40p now from 65p in June, 2012 (post 123). This is a share which shows poor profit potential and succumb to extensive risk factors. SELL.

Situation calms at Kwezi

Aquarius Platinum (SA) (Pty) Limited advises that the situation reported yesterday at Kwezi shaft has calmed following the intervention of the South African Police Services. Following the security incident that occurred yesterday, the shaft's night shift reported and made safe the workings, enabling production to resume this morning.

Mine management continues to liaise with the SAPS, and officials of both the National Union of Mineworkers and the Department of Mineral Resources to assess this situation and action any outcomes from ongoing investigations.

Aquarius condemns any acts of violence on its property and takes very seriously the safety and security of personnel. Lost production from yesterday's incident is estimated at 2,800 tonnes.

Further updates will be provided in due course.

All in all, not a very good advertisement for the mining industry !!


Three killed as mob invades Aquarius Platinum mine
StockMarketWire.com
Three people died and at least 20 other were injured after around 200 people - some of them armed - forced their way on to Aquarius Platinum's Kwezi shaft.

The company says the intruders are understood to be former employees of the mine's mining contractor, who were dismissed following illegal strike action in June.

Aquarius Platinum said members of the private security company under contract to the mine attempted to disperse the crowd as the actions of the group, which included the throwing of petrol bombs, threatened both mine employee lives and property.

A total of 450 employees were on the shaft and underground at the time of the invasion.

Members of the South African Police Service were on site at the time of the incident and the SAPS have now taken charge the situation to restore order.

Operations at Kwezi shaft were immediately suspended, and management has evacuated around 450 morning shift employees to ensure their safety.

At 4:09pm: (LON:AQP) Aquarius Platinum share price was -0.93p at 37.75p


Story provided by StockMarketWire.com

StockMarketWire.com
Aquarius Platinum posts headline losses before exceptional charges of $154m for the year to the end of June compared with a earnings of $143m in 2011.

Revenues fell by 29% to $486m and mine earnings before interest, tax, depreciation and amortisation plunged by 86% to $29m.

Chief executive Stuart Murray said the last financial year had been an exceptionally challenging for the company and for many players in the South African PGM industry.

He added: "Company specific operational performance issues, a significant drop in the rand price basket especially since February coupled with rising input costs in SA and Zimbabwe, poor labour relations at the primary mining contractor in SA, and unreasoned safety stoppages all combined to deliver an unfortunate operational and financial outcome for Aquarius.

"Whilst some of the issues are company specific, the general operating environment combined with the poor pricing conditions place the South African PGM sector under real pressure.

"Aquarius has felt these impacts but has swiftly resolved to conserve cash and protect the value of its in-the-ground reserves and resources by placing Marikana and Everest under care and maintenance.

"This is a responsible reaction to the price environment as sustained production surpluses merely raise the level of above-ground metals inventory.

"The unfortunate side of this decision is the human cost of job-losses but some success has been achieved in placing about 1000 employees into alternative employment.

"As the market recovers - and there is no reason to doubt that it will - Aquarius will be well placed to re-build its production profile."

Aquarius Platinum slips further as analysts ask if more pain is to come


The platinum producer lost ground on the FTSE 250 after results missed City expectations.

Could there be worse in store for Aquarius Platinum investors? That was the question asked in the Square Mile today as the group reported a record full-year pre-tax loss of $189m (£121m).

Shares in the platinum producer have tumbled 77pc this year and touched an all-time low of 34.71p last week.

Having rallied marginally in recent days, they slipped 0.45 to 36.23p after the group revealed numbers which missed City expectations and were hit by lower production in what was an “exceptionally challenging” year for the company.

“Can the shares go any lower than the current all-time lows?” asked Shore Capital analyst Yuen Low. “Well, we certainly believe there to be room for further significant drops.”

Aquarius is buying Booysendal assets from Northam Platinum, but said today it will need additional funding to complete the purchase and is examining alternatives.

Not a metals man but couldnt resist a long on AQP. Hoping chart has finally bottomed.

Looking very grim in South Africa atm. Not sure I would take the risk, even though the commodity price may be on the up.

ive bought so watch it crash tomoro...jonah maestro

pity they bought ridge mining cheap..i was hoping ridge would make me a millionaire one day

I guess its a bit like CEY - the commodity price is secondary atm.

Jesus christ, dont think Ive ever made such a gain other than takovers so.... fast.

Lucky friday.

CASHED IN..PILED INTO vog

17% rise now. think I might bank some gains.

StockMarketWire.com
Aquarius Platinum has resumed mining operations at the Kroondal platinum mine near Rustenburg in South Africa's North West Province.

The company temporarily suspended mining operations on Friday (14 September) to ensure the safety and security of employees and assets given the rising tensions and protests within the regional workforce and communities.

Processing operations at Kroondal were not materially affected.

Added a little to average down from £4...... a bit more respectable now just hope sp continues to climb.,.

Closed my other half out. Lovely return for a few days investment.

StockMarketWire.com
Aquarius Platinum's attributable production from operating mines increased by 8% quarter-on-quarter to 77,799 4E ounces in the three monhts to the end of September - despite industrial unrest.

And it says operating mines reported earnings before interest, tax, depreciation and amortisation of $7.6m following the closure of non-profitable mines.

The group posts a net loss of $19.6m following 'one off' closure and transition costs of $14.6m.

Interim chief operating officer Jean Nel said: "The South African industrial relations environment in the PGM mining sector has been especially testing, in fact more so than ever, in recent months.

"We gratefully acknowledge the significant assistance received from the Department of Mineral Resources, the Chamber of Mines, the South African Police Services, as well as local government and communities.

"Hand-in-hand with this has been the changeover to owner operation at Kroondal, an integral part of which has been engagement with our workforce and management focus on ensuring a safe working environment while motivating efficiencies.

"The progress made to date stands us in good stead to complete the transition to owner mining and to further increase production at the Kroondal mine.

"This will coincide with the completion of the roll-out of the new hanging wall support system, which will enable a return to full daily mining cycle. We will then begin to explore additional initiatives to further optimise the Kroondal operation.

"It is gratifying that all operating entities are now EBITDA positive and in line with our philosophy of not funding unproductive operations, the decision was taken to place CTRP on care and maintenance in the current economic environment.

"In terms of future guidance, we have made some tough decisions in recent months and will soon have completed all the improvement initiatives currently unde rway. This should stand us in good stead and leave us well placed and poised to respond to positive shifts in the sector."

Any hope/reason for the rise?

Read post #3868 on the GKP thread. Should shed some light!

Thank you HarryCat

Joined in here today.

This one fooled me back in Sept. hope rise continues this time but have my doubts.,.

Looking to break 60p.

Regardless of the chart though, the slightest whiff of trouble in South Africa and this will head back down again.

Up 17% on good volume.

Just taken a third off the table +15p - looks to be getting a bit ahead of itself.

">

Chart says, more to come...... we will see.,.

Skinny, Did you buy back AQP?

Was quite strong today

I still have 2/3 of my holding.

Well done Skinny. It will come good IMO.

Looking to fill the gap @80p ?

South African platinum workers strike over job cut plans

Wednesday 16 January 2013 18.14 GMT

The South African government and its trade union allies are attempting to head off a new crisis in the mining industry after platinum workers at three pits downed tools on Wednesday in protest at plans by Anglo American Platinum (Amplats) to cut 14,000 jobs.

Second Quarter 2013 Production Results

Highlights

* Attributable production from operating mines increased by 2% quarter-on-quarter
to 78,987 4E ounces

* Average PGM basket price increased 5% for the quarter in Dollar terms

* The Rand weakened against the US Dollar by 4% on average quarter-on-quarter

* Transition to owner operator completed during the quarter and below budget

* Rollout of revised hanging wall system completed during the quarter

* Cash costs at Kroondal decreased 7% to R8,403 per PGM ounce quarter-on-quarter

* Cash costs at Mimosa increased 8% to $897 per PGM ounce quarter-on-quarter

* Mimosa and Government of Zimbabwe agreed commercial terms on Indigenisation and
signed a term sheet

Aquarius Platinum 2013 Half Year Financial Results to 31 Dec 2012

Key Points: Financial

Revenue decreased by 29% to $179 million (H1 2012: $252 million)

Mine operating net cash flow decreased by $63 million to a $38 million outflow
(H1 2012: inflow of $25 million)

Mine EBITDA decreased by 24% to $22 million (H1 2012: $29 million)

Group cash balance at period end of $83 million

Key Points: Operational

Group attributable production decreased by 27% to 156,787 PGM ounces (H1 2012:
215,453 PGM ounces)

Attributable production from operating mines increased by 8% compared to the
previous corresponding period (pcp)

The average US Dollar PGM Basket Price was 10% lower compared to the pcp

The average Rand Basket Price increased by 1% compared to the pcp due to a
weaker Rand

The Rand weakened by 12% on average against the US Dollar

On-mine unit cash costs in South Africa increased by 3% in Rand terms

Mimosa performed strongly again, continuing to produce at capacity

Operations at Blue Ridge, Marikana, Everest and CTRP remained suspended

Hic!

Skinny
You appear to be home alone with AQP.
I bought early January on a chartists hunch; still bullish imho

Djalan - yes I bought in here mid December (I have sold @30%) and JLP mid Jan.

Combination of the chart and the platinum price - quietly optimistic!

I'm in from some time ago, need 95p before profit.,.

AQP likly bid target
http://www.ft.com/cms/s/2/d61f9b0e-7d22-11e2-8bd7-00144feabdc0.html#axzz2LlbymOiy

StockMarketWire.com
Aquarius Platinum has suspended operations at the Kroondal mine's Kwezi shaft after a contractor was fatally injured in a landslip.

The company said no-one else was injured.

The name of the deceased has been withheld until the next of kin have been informed.

The Aquarius board and management have expressed their sincere condolences and said that an investigation into the cause of the accident will start this afternoon (25 March).

Management is in close communication with employee associations and unions, as well as the Department of Mineral Resources.

Operations Resume at Kroondal Platinum Mine's Kwezi shaft
Aquarius Platinum Limited ("Aquarius" or the "Company") advises that operations have resumed at the Kwezi shaft of the Kroondal Platinum Mine ("Kroondal") following the lifting of suspension notices issued on 25 March 2013. Mining operations were temporarily suspended following a fatal accident at the mine.

The temporary suspension of mining operations resulted in a loss of approximately 1,500 (4E) ounces of production attributable to Aquarius.

Aquarius continues to support the enquiry into the accident by the Department of Mineral Resources. The tragic accident occurred 21 days after Kroondal had achieved 2,000,000 fatality free shifts.

just bought in..share price should recover to the 50's now

delayed reaction..i guess MMs arent the brightest sparks when it comes to correct valuations

StockMarketWire.com
Aquarius Platinum's revenue decreased by 20% to $100m in the three months to the end of March (Q3 2012: $125m) due to mine closures.

Attributable production from operating mines increased by 20% to 81,471 4E ounces compared to their performance in the previous corresponding period.

Mine operating net cash flow increased by $47m to a surplus of $29m inflow (Q3 2012: outflow of $18m) and mine earnings before interest, tax, depreciation and amortisation increased 14-fold to $30m (Q3 2012: $2m).

Chief executive Jean Nel said: "During the quarter under review, Aquarius's focus remained almost exclusively on improving operational performance. It is therefore particularly pleasing to report credible performances at both Kroondal and Mimosa. Kroondal production exceeded 105,000 ounces for the first time since the quarter ended December 2011, while unit costs improved and 2 million fatality-free shifts were achieved in the quarter.

"There was regrettably a fatal accident on 25 March, after this milestone had been reached. Our commitment to safety remains paramount. Mimosa in turn managed to maintain production at above budget levels while unit costs declined by 3%, even after the annual wage increase of 7.5%. The operational teams at Kroondal led by Wessel Phumo and Rob Schroder, and at Mimosa, led by Winston Chitando, deserve credit for their performances.

"While our operational performance improved, the operating environment remained particularly challenging across most disciplines and was exacerbated by the significant drop in dollar metal prices post the period end. There appears little cause for optimism about the sectors' immediate prospects.

"Against this backdrop, we remain focussed on maintaining operational stability, effecting incremental operational improvements and preserving our treasury to ensure that Aquarius is well positioned to respond to any uplift in PGM prices."

Broker update.....


14 May Aquarius Platinum... AQP Deutsche Bank Buy 45.50 45.50 70.00 70.00 Reiterates

SP TARGET 70p.

Preliminary Full Year Results to 30 June 2013
Key Points: Financial

Mine EBITDA increased by 145% to $70 million (FY2012: $29 million)

Revenue decreased by 24% to $371 million (FY2012: $486 million)

Headline loss (before exceptional charges) of $61 million (FY2012: headline loss $154 million)

Reported net loss of $288 million (61.13 cents loss per share) after impairment losses of $226 million

Group cash balance at FY close of $103 million

No dividend declared

Key Points: Operational
Group attributable production, excluding operations on care and maintenance, increased by 13% to 325,103 PGM ounces for the full year

US Dollar PGM price weakened by 6%, offset in South Africa by weaker Rand-US Dollar exchange rate

Average Rand Basket Price up 7% year-on-year at just over R10,940 per PGM ounce due to Rand weakness.

Weighted average on-mine unit cash costs in South Africa decreased by 15% in Rand terms

Key Points: Strategic
Implementation of revised support system at Kroondal completed

Move to Owner Operator model at Kroondal completed

Focus on turnaround at Kroondal evidenced by improved operating results - Kroondal EBITDA up 12 fold compared to pcp

Kroondal mine life increased a further 3.5 years to 9.5 years following agreement with PSA1 partner Amplats.

All unprofitable operations have been placed on care and maintenance for the duration of the current downturn.

Commenting on the results, Jean Nel, CEO of Aquarius Platinum said:

"The year under review was exceptionally challenging for Aquarius, a year in which we had to close loss-making mines, face disruptive industrial action, implement an owner-operator model at Kroondal and revise the hanging wall support regime. Further, we had to contend with on-going regulatory uncertainty in an environment in which metal prices continued to materially underperform consensus forecast.

That said, we have learnt much during these difficult times and have emerged as a leaner and more focussed business, fully intent on continuing the positive momentum into the new year. As we expect the difficult operating conditions and low metal prices to continue in the new financial year, our focus will remain on improving operational performance and cash generation."

http://www.moneyam.com/action/news/showArticle?id=4647297

AQP up nicely today, looks like a Banks and
Mining day and other stocks being effected by
DOW debt ceiling ongoing problems.

StockMarketWire.com
Blasting activities at the Kwezi shaft at Aquarius Platinum's Kroondal mine have been suspended after the body of a female employee was found underground this morning (9th October).

The company said a forensic investigation by South African police is currently under way.

Aquarius says that while the circumstances of the incident cannot be disclosed, it was apparent during the initial investigation that the woman may have been assaulted.

The woman's name is being withheld out of respect for her family.

StockMarketWire.com
Aquarius Platinum posts first quarter net after-tax losses of $10.2m - down from $19.6m a year ago.

Earnings before interest, tax, depreciation and amortisation rose to $6.3m from $1.6m a year ago but dwon $4m quarter-on-quarter due to higher costs and lower recoveries at Kroondal.

The group says attributable production increased by 9% to 84,504 4E ounces compared to the correpsonding period last year and remains consistent quarter-on-quarter - 2.6% lower.

Chief executive Jean Nel said the three months to the end of September was a challenging quarter on all fronts.

Nel said: "Despite the challenges we faced, all operations delivered improved safety performances, and all operations delivered production results in line or above forecast.

"Notably, Kroondal exceeded forecast production levels, delivering in excess of 100,000 4E ounces for the fourth consecutive quarter, despite both concentrator plants undergoing planned maintenance during the quarter and despite the mine encountering geological and consequential recovery problems throughout the quarter.

"Cost performance at Mimosa and Plat Mile was in line and below forecast respectively, while costs at Kroondal were higher driven by the implementation of the wage increase in July, winter electricity tariffs, which will reverse in Q2, as well as lower concentrator plant recoveries.

"The credible operational performance for the quarter, and the significant reduction in the company's corporate cost base notwithstanding, our business remains marginal at prevailing metal prices, where no improvement appears imminent. Against this backdrop management will remain resolute in its focus on improved safety, cost and operational performance.

"Tragically, post quarter end an employee, Cintiah Setuke, lost her life at Kroondal in what appears from the preliminary investigations to be a criminal act.

"Kroondal security personnel apprehended a suspect and handed him over the SAPS and he remains in custody.

"I join my colleagues in expressing condolences to her family and friends and Aquarius reiterates that it renounces all acts of violence.

"Sadly the incident took place despite an improved safety performance at Kroondal and after the successful launch of Kroondal's safety campaign, Step-it-Up. Kroondal continues to render its full support to the Department of Mineral Resources and the South African Police Services in the course of its investigation."

Some bounce this morning after the large retracement
Indicators well oversold and now rising also

Goldman Sachs to neutral from sell TP 43p

StockMarketWire.com
Aquarius Platinum said that revenue decreased 2% to $113m in the half-year to end-December (H1 2013: $116m). Mine EBITDA increased 55% to $10m (H1 2013: $6.5m) and group cash balance at period end was $83m.

Mine operating net cash flow increased by $62 million to a $5 million inflow (H1 2013: outflow of $57 million)

Key Points: Operational

Group attributable production increased by 7% to 168,014 PGM ounces (H1 2013: 156,787 PGM ounces)

The average US Dollar PGM Basket Price was 5% lower compared to the previous corresponding period (pcp) December 2012

The average Rand Basket Price increased by 13% compared to the pcp due to a weaker Rand

The Rand weakened by 19% on average against the US Dollar compared to the pcp

On-mine unit cash costs in South Africa increased by 2% in Rand terms compared to the pcp

Mimosa performed strongly again, continuing to produce at capacity but impacted by a low PGM Dollar price, with cash costs down 1% compared to the pcp

Key Points: Strategic

Kroondal exceeded 105,000 PGM ounces for 4 consecutive quarters - with a strong and focused team

Disposal of non-core assets subsequent to half-year end

Jean Nel, CEO, said:

'Aquarius' performance during the period tells two very different stories, a credible operational performance and delivery on safety, production and cost improvements, wrapped in a very difficult macro environment, specifically regulatory, metal price and industrial relations environment.

'During the period under review Aquarius delivered on its stated focus of improving operational performance across all operations, including safety performance, production levels and unit cash costs.

'Despite many challenges Kroondal is now consistently producing at levels higher than at any time in its 10 year history, having recorded production in excess of 105,000 4E ounces for 4 consecutive quarters, whilst at the same time improving its safety performance and recording unit cash costs at levels similar to 24 months ago. Maintaining cost increase at below inflation levels for 2 years represents concrete delivery, which the operational team at Kroondal should be credited for. The dedicated and stable work force at Kroondal should also be commended for partnering with management to ensure continued uninterrupted production at Kroondal during the half-year.

'At Mimosa production continued to be in line with guidance whilst cash costs continue to reduce steadily in real terms. As is the case at Kroondal unit cash costs at Mimosa has increased at a rate well below inflation over the course of the last 2 years. Mimosa's best in class safety performance was also maintained during the period.

'Platinum Mile delivered a credible operational performance in the half-year, and would have outperformed significantly had it not suffered interruptions in its plant concentrate feed during Q2.

'Contrasting the credible operating performance is a challenging and complex macro environment. Our primary concerns in this regard include Dollar metal prices lower by 5% from the same time last year, despite the primary deficit in PGM metal markets during the 2013 calendar year which is forecast to increase in 2014.

'In addition, the prevailing regulatory uncertainty in South Africa and Zimbabwe and the precarious state of the South African industrial relations environment continue to make longer term production planning and capital allocation difficult.

'In summary Aquarius is well aware that the credible operational performance recorded in the half-year notwithstanding, no value was created for our shareholders, and that the company's shareholders is the only stakeholder which has not benefited from the company's activities during the period, and preceding periods. The company will resolutely persist in its pursuit to reverse this by focussing on continued improvements in safety, production and critically cash costs.'

Bought some at 24.25p not long ago

After the RI and falling to 20 on going -X-, has settled and moved slowly higher since.
Large volume today as moving further up

The higher rise did not hold but...
Platinum prices at its high recently

Moving on the right direction, at best of the day 24.75p

We had a very narrow Bollinger Bands looks like it will break up on a explosive way
25.125p now

First Quarter 2015: Financial and Production Results

Highlights
Revenue increased by 3% to $62 million (Q1 2014: $60 million) in line with slightly higher prices

On-mine EBITDA increased 138% to $14.8 million (Q1 2014: $6.3 million)

Group cash balance (excluding cash in joint venture entities) at quarter end $138 million (June 2014: $137 million) with a further $19 million held in joint venture entities (June 2014: $16 million), 50% of which is attributable to Aquarius;

Attributable production from operating mines up 3% quarter-on-quarter and up 4% compared to the previous corresponding period (pcp)

Cash costs at Kroondal remain below guidance , decreased 4% to R9,001 per PGM ounce quarter-on-quarter - down 1% compared to the previous year

Cash costs at Mimosa were up 1% to $815 per PGM ounce quarter-on-quarter after adjusting for one-off voluntary retrenchment costs incurred in the previous quarter- down 3% compared to the pcp.

Surface stockpile at Mimosa increased - now 184,375 tonnes

Kroondal PGM basket price increased 4% on average to R13,270 per PGM ounce quarter-on-quarter - up 12% compared to the pcp

Mimosa PGM basket price increased 4% on average to $1,200 per PGM ounce quarter-on-quarter - up 8% compared to the pcp

The Rand weakened against the US Dollar by 1% on average quarter-on-quarter - down 7% compared to pcp

http://www.moneyam.com/action/news/showArticle?id=4910183

I hear rumours of more miner strikes in SA to come but AQP, having the good sense to forge a deal a 3 year deal, should be immune while hopefully benefitting from any basket price increases because of strikes. Bought in on Friday - must have been the first trade because I only paid 16.80p. There's still some downside price risk but that's across all miners at present so happy to hold this for the longer term.

I take back what I said as this proving to be the worst trade I've made in a long while. Can't believe that Platinum moved up the last two days and this has moved down! No reflection on the company but the price action is weak and I won't be parking my hard earned in this again.

StockMarketWire.com
Aquarius Platinum saw attributable production from operating mines increase by 2% quarter-on-quarter in the three months to the end of December and rise by 5% compared to the previous corresponding period (pcp).

Kroondal recorded its eighth consecutive quarter above 105,000 PGM ozm while Mimosa achieved a new quarterly production record at 60,842 PGM ozs.

The group reports its highest attributable quarterly production for a quarter from Kroondal, Mimosa and Plat Mile combined but average PGM basket price decreased 10% for the quarter - down 4% compared to pcp.

The rand weakened against the US dollar by 4% on average quarter-on-quarter - down 8% compared to pcp.

Cash costs at Kroondal decreased 1% to R8,925 per PGM ounce quarter-on-quarter - up 1% compared to pcp. Cash costs at Mimosa decreased 4% to $781 per PGM ounce quarter-on-quarter - down 7% compared to pcp.

Chief executive Jean Nel said: "Both Kroondal and Mimosa delivered excellent production and cost performances in the quarter, with Mimosa recording its highest ever quarterly production and Kroondal delivering a record 8th consecutive quarter of above 105 000 4E ozs production. The increased production, coupled with excellent cost management enabled Aquarius to generate positive operational cash flows despite a sharp drop in PGM prices which fell by 10% in US$ terms and 8% in Rand terms. The operating teams under the leadership of Rob Schroder deserve much credit for the performance.

"Aquarius's view remains that, attractive longer term fundamentals notwithstanding, a material increase in PGM prices is unlikely in the short term given muted demand growth and continued supply of metal from unprofitable mining operations in South Africa. This assessment informs Aquarius' stated focus on consistent operational improvements, strengthening its balance sheet and restrained capital allocation. Aquarius is committed not to produce unprofitable ounces. In this regard Aquarius will continue to focus on operational efficiencies and excellence to improve margins."

StockMarketWire.com
Aquarius Platinum posts a headline loss (before exceptional charges) of $30m for the six months to the end of December - up from $22m last time.

Revenues of $113m comparable to prior corresponding period (pcp) but group mine earnings before interest, tax, depreciation and amortisation were higher at $18m (H1 2014: $10m) due to higher production and improved cost management.

Aquarius recorded a consolidated accounting net loss after tax (IFRS) of $57m for the half-year (3.93 cents per share). The result included the following one off non-cash charges arising in joint venture entities:

- An impairment of the carrying value of Blue Ridge/Sheba's Ridge investment of $26m following termination of the agreement to sell the company's indirect interests in Blue Ridge Platinum (Pty) Ltd and Sheba's Ridge Platinum (Pty) Ltd

- Discounting of the RBZ receivable due to Mimosa by $28.5 million.

Chief executive Jean Nel said: "The group's stated focus on operational improvements in the face of a very difficult operating, labour, political and social environment continued to yield results in the six months to December 2014.

"The six months under review was characterised by continued operational progress, improved safety performance, reduced costs and record production for the group. In addition to excellent operating performances by both Kroondal and Mimosa, our incremental projects progressed satisfactorily during the half-year and the group's balance sheet was strengthened following the sale of non-core assets.

"We continue to expect a difficult operating and metal price environment in the short term which directs our focus on operational efficiencies and responsible capital stewardship."

StockMarketWire.com
Aquarius Platinum has issued an update on the agreed sale by its subsidiary, Aquarius Platinum (South Africa ) (Pty) Ltd, of its entire interest in the Everest mine and ancillary mining and processing infrastructure and immovable properties to Northam Platinum Limited for an aggregate cash consideration of R450m.

This is to be completed in two parts - R400m for the concentrator and other mining assets (part A) plus R50m for the Everest mining right (part B).

Aquarius is pleased to advise that the conditions precedent in respect of the part A disposal process were fulfilled on 22 April. Part A of the disposal process is now unconditional and the consideration of R400m is due and payable by Northam on 26 June.

Part B of the disposal process is subject to the consent of the Minister of Mineral Resources in terms of section 11 of the Mineral and Petroleum Resources Development Act.

The section 11 application has been submitted to the Department of Mineral Resources.

Should the ministerial consent not be obtained the first part of the disposal will not be unwound.

StockMarketWire.com
Aquarius Platinum's board has agreed a US$0.195 per share offer from Sibanye.

The offer represents a premium of 60.3% to Aquarius's closing share price of £0.08 on 5 October and 71.4% to Aquarius's volume-weighted average share price of £0.07 over the last 30 days up to and including 5 October. The transaction is intended to be implemented by way of a plan of amalgamation under the Companies Act 1981 of Bermuda and Aquarius bye-laws.

Chairman Sir Nigel Rudd said: "The board of Aquarius has carefully considered the proposal received from Sibanye, taking into account all relevant company and macro considerations. The board of Aquarius also took advice from its advisers and engaged with a select number of significant shareholders in the company regarding the proposal and, having taken their feedback into account, have unanimously recommended the proposal subject to an independent expert determining that the proposal is fair and reasonable and in the best interests of Aquarius's shareholders and subject to no superior proposal emerging.

"The board is confident that Sibanye will continue its focus on all stakeholders, including employees, host governments and the communities."