A platinum group metals (PGMs) producer in southern Africa. Company has interests in 5 operations and project located on both the world-renowned Bushveld Complex in South Africa and the Great Dyke in Zimbabwe. Its primary operation Kroondal Mine is one of the lowest cost and most efficient PGM producers in the world. Its second operation in South Africa, the Marikana Mine, is currently making the transition from a pure open cast operation to a mixed underground operation. Its third mine in South Africa, the Everest Mine is currently under construction with commissioning and first production expected by the end of 2005.

Upper graph = 12 month share price with 6 month moving average
Lower graph = 12 month volume (red line = volume average).

SALES PER ACTIVITY (Data as of 30/06/2006)

Platinium extraction & others: 98%
:                                        2%









Independent - 5 May 2007 - The Investment Column - Our view: Buy - Share price: 1511p

It has been two years since we looked at Aquarius Platinum, and in the intervening months the shares have rocketed from 336p to 1,511p, giving anyone taking our "buy" advice a very healthy return of 350 per cent.

Platinum has a distinctive place in commodities as a precious metal whose primary market is industrial. Whereas the price of base metals has been driven by Chinese demand, the platinum market has been driven by regulatory changes in the motor car industry. Almost 75 per cent of the world's platinum is used in catalytic converters, and supply has been squeezed so much that the jewellery market has been reduced.

Last week's third-quarter production numbers from Aquarius were a slight disappointment, showing a fall of 9 per cent against the previous quarter. However, with operations exclusively in South Africa, Aquarius has benefited from being one of the lowest cost platinum producers. Wage and capital goods inflation is certainly a cause for concern but with demand for platinum is unlikely to be matched by supply in the near term the chances of a sharp correction are slim.

Aquarius is well positioned in the rhodium market; another precious metal used in flat-screen television screens. There is a global shortage of rhodium and the rare metal is currently trading at $6,000 an ounce, nearly 10 times the price of gold.

The mining industry is consolidating and given Aquarius's track record and relative lack of exposure to the fluctuations of Chinese demand a bid cannot be ruled out. Despite the share price going into orbit, the stock still trades on just 12.7 times forecast 2008 earnings so remains a buy.

Now $950 Oz & looking to go further even though demand from exhaust manufacturers is down.
Amazing that demand is now down, but with temporary mine closures, power problems in S.A. & reducing reserves the price of platinum continues to climb.
AQP currently 238p, from a low in Nov '08 of 78p.

"Aquarius Platinum has confirmed yesterdays announcement from Ridge Mining that it is in talks about a possible offer for Ridge."

12 February 2009

"Ridge confirms it is currently in discussions with Aquarius Platinum Limited ('Aquarius') which may or may not lead to an offer for Ridge's entire issued and to be issued share capital.

There is no certainty as to the terms and structure of any such transaction nor that an agreement will be reached between the Company and Aquarius. Shareholders are advised to take no action at this time. Any further announcement will be made as appropriate."

Platinum price now $1045 oz, yet broker forecast is a downgrade. Due to the possible cash drain from the proposed takeover of RDG?
"BROKER NEWS Aquarius Platinum initiated at Teathers with reduce rating, 166p target price"

How do the future prospects for catalytic convertors enter into the equation. I would have thought it would have been immense?

Of course, but until car, bus & truck production increases, platinum demand is going to be severely limited. There have also been production difficulties together with mothballing of mines in S.A., which has limited the stockpiles of platinum, possibly artificially supporting the price. In the short term it looks to me as though supply is going to outstrip demand, but all should get back to normal once the auto manufacturers start putting orders in for cats.
Remains to be seen what effect the 'green' developments have, but looks like petrol & diesel are here for a while yet, imo.

Harry,who do you see as the best player in the platinum market?

Really tricky to say, imo. Anglo-Platinum is the world's largest producer, but is listed on XETRA in s (not on the London exchanges). Lots of other miners produce platinum along with other metals. Lonmin is the world's 3rd largest producer. It also mines other metals, but is also part owned by Xtrata who also mine platinum under their own brand name.
It depends on whether you want just a pure platinum play, in which case AQP seems to be the best at the moment & the easiest to trade. I don't know a great deal about the others, of which Jubilee seems to be in the same field, but much smaller.
If you have a look at www.mineweb.com & then click the tab 'Platinum group metals' that shoiuld give you an idea of the major players.

Thanks for the info ,Harry.I'll check things out.
Jubilee certainly have been hard hit,must be their debt levels,although are up a bit in the past fortnight.

big movement upwards in last 2 days ,over 30points in first half hour -20% in 2 days

Yes. The spot plat price is just over $1200/oz which is keeping the miners happy.
AQP is due a setback though, as they have recently had a bond issue and are currently in the middle of a rights issue as they have to pay off a bridging loan which is due on the 30th june.
The german 'old car buyback' scheme is however giving the german auto industry a boost & it looks like things may be on the turn for the auto makers.
I am holding some AQP stock & trading the rest just to be safe.

Looks like good times are here to stay.

//money.ninemsn.com.au
"Platinum was up 0.7 percent at $1,193 per ounce a day after rising as high as $1,210, the highest since Sept. 24, as investment demand was boosted by news that new exchange-traded products linked to platinum group metals are being planned."

Here we go to 600p.

MoneyAM
"Aquarius Platinum has set out details of its ZAR650m bond issue.

Aquarius said the base share price for the bonds will be ZAR30.51 and the number of shares which each bond can be converted into is 26,226 - ZAR1m divided by the conversion price of ZAR38.13 which is a 25% premium to the base share price.

The issue will be managed by Rand Merchant Bank, a division of FirstRand Bank Ltd, which is underwriting ZAR500m of the issue.

Aquarius shareholders will be given the opportunity to subscribe for bonds on the same terms as RMB and will be treated preferentially in the allocation process

Allocation of the bonds is expected to take place on or around 5 May. "

Third quarter results out today look very positive.

Platinum prices are up from $800 to $1200 in the past 6 months,but still $1,000 short of price of a year ago.All other precious metals appear to be on the rise too.It looks promising to me.

Aquarius Picks Up 32.7% of Ridge Mining
MoneyAM
The takeover offer for Ridge Mining by Aquarius Platinum has received acceptance from shareholders representing 32.7% of the issued share capital.

Aquarius says that it has recently received an undertaking from Gold Mountains which holds 18.4m Ridge Mining shares. In total, Aquarius says it can count on votes from shareholders representing 30.08m Ridge Mining Shares

I think the rights issue is priced at approx 230p, which triggers on the 5th may, so expect a little pullback in the sp.

Dated 18th june '09:
Business Financial Newswire
"Aquarius says its offer for Ridge Mining has been approved unconditionally by the South African Competition Tribunal.

The transaction is subject to the approval of Ridge shareholders, which is being sought at the shareholder meetings on 6 July, and the approval of the court, which is being sought on 27 July.

Aquarius has received irrevocable undertakings to vote in favour of the transaction representing 32.7% of Ridge's issued ordinary share capital, received from the Ridge directors and the two largest shareholders, Gold Mountains (H.K.) International Mining
Company Ltd - a wholly owned subsidiary of Zijin Mining Group Co. Ltd - and Blackrock Investment Management (UK) Ltd."