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

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.