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

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."