Aquarius Platinum (AQP)

Shares / Stock Code

AQP

Stock Exchange / Sharemarket

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Aquarius Platinum (AQP) is an explorer and producer of platinum. AQP is exclusively focused on the exploration, development and acquisition of platinum group metals (PGM) projects, and mining of PGM. AQP is listed on the Australian, London and Johannesburg stock exchanges. Aquarius Platinum listed on ASX on 29 September, 1999. The Company is actively involved in the exploration and production of platinum group metals, comprising platinum, palladium, rhodium and gold. AQP had 56 employees as of 30 June 2007. The Company has its mining and exploration operations in South Africa and Zimbabwe, with administration functions in Australia and Bermuda. During the fiscal 2007, its principal focus was on the operations of the Kroondal platinum mine, the Marikana platinum mine, the Mimosa platinum mine the Everest platinum mine and the Chrome Tailings Retreatment Plant. The Company announced the acquisition of a 3.5% share in Aquarius Platinum (South Africa) (Proprietary) Limited from Savcon on April 26, 2007.

Aquarius holds 50% interest in the Kroondal and Marikana mines and 100% interest in the new Everest mine, all situated in Transvaal. Kroondal Mine has a targeted annual production of 505,000 PGM ounces with an extended life of mine to 2017. Its Everest project started production in December 2005, which is ahead of schedule. AQP holds a 50% share in the Chromite Tailings Retreatment Program and in the Mimosa Platinum Mine.

AQP is one of the first companies to complete the equity component under the Black Economic Empowerment Charter and the Mineral and Petroleum Resources Act. Aquarius focuses on providing good earnings, maintaining a strong balance sheet and maximizing the dividend to shareholders.

Aquarius Platinum History

Aquarius first listed on the Australian Stock Exchange (ASX) in 1984. It listed on the London AIM in 1999. In mid-2002AQP moved to a full UK listing. In late-2004 the company listed in South Africa as part of the BEE transaction. In 2000 AQP formed a strategic alliance with Implats to smelt, refine and market its PGM production. Implats made an investment in an 8.6% AQP stake together with a 24.5% interest in AQPSA, in swap for three properties including Everest. After the closure of the BEE transaction AQP moved to 50.5% of AQPSA.