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.

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Johnson Matthey gave a good upbeat trading statement today saying it sees particular growth in its catalysts division in the coming year as demand is driven by climate change and emissions concerns. With the price of platinum near an all-time high, and demand increasing daily, this can only be good for Aquarius. The sp is down 8% over two days with no bad news. A good time to time to top up or buy in.

"The bottom line is that developing platinum miners are once again set to teach a new generation of investors about how it's possible to burn ten fingers, ten toes and one nose, all at once."


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What's that got to do with AQP, e t ?

"The dark (very dark) side of platinum juniors, and the venality of silly investors putting the current junior platinum boom into perspective."

Is AQP a platinum junior?!!!

It will be if the share price falls any further !!

Head & Shoulders with an 11 quid target ???

I thought the last broker target was 1800p?

They have been known to get it wrong ... more often than not imo.

It was just an observation Haerry , be interesting to see how it pans out.

No critisism intended. Your comments are as good as any.
Chart has slipped below the 25 DMA over the last month, but still well above the 200 DMA. Am hoping it will continue to trade between the 1400 - 1600p range.

Up 10% today & pushing new highs.

"Aquarius Platinum wish to advise the interim dividend of US 10 cents per share
will be payable to shareholders on Thursday 20 March 2008 (previously Friday 21
March 2008). The Record Date remains unchanged as Friday 29 February 2008."

Investec target price raised today to 925p.

Looks like there is no support for Aquarius Platinum. With the current crashing platinum price and poor car industry, demand is dwindling at a fast rate. Now 250p.

Incredible! Far cry from my posts back in feb this year, but platinum currrently $996 ounce (from $2200 in Jan). As you say, where is the bottom?

1? Bankruptcy?

It would be interesting to know what the break even price for platinum is as regards AQP. (i.e. Final market price versus production cost). That would give us an idea as to profitablity. I will try & research.

would appreciate that Harry