• Increase font size
  • Default font size
  • Decrease font size

Oct 2002 - Aquarius Platinum

Aquarius Platinum Ltd – Quadrupling Production to 135,000ozpa by June 2003 at its Zimbabwean Mimosa operation

  • Aquarius acquired a 50% interest effective from 1 July 2002 in Zimasco Consolidated Enterprises Platinum Ltd, who own 100% of the Mimosa Platinum operation in the Wedza complex of The Great Dyke in Southern Zimbabwe for 6.86m AQP shares at GBP3.89/share or GBP26.7m (approximately A$74m).
  • The move is strategic with Mimosa having an expected life of far in excess of 30 years, currently quadrupling its production to about 135,000ozpa of PGE, and being one of the lowest cost platinum producers in the world.
  • In our opinion, after visiting the Mimosa operation in July 2002, the expansion should be achievable and if anything be conservative. Further upside potential appears possible in costs, recoveries, and throughput in addition to the gravity oxide testing, following up historic granite riffle tables that recovered Pt in 1926.
  • Written by: Keith Goode
  • Tuesday, 08 October 2002

Kitco Spot Gold Price

   Click Chart for Spot Gold Price[Most Recent Quotes from www.kitco.com]

Stock Quote

  (Add .ax for ASX)