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Aquarius Platinum - Bad weather affects production

June 2004

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

During the third quarter which ended on 31 March, Aquarius' leading mine, Kroondal, continued to perform well, reporting record production of 60,032 PGM/oz, with Aquarius' share reducing to 50%, now that its pool and share arrangement (as part of a deal to extend the life of the mine) with Anglo Platinum, has just kicked in. However, Aquarius encountered a weather related hiccup to production during this third quarter at its second mine, Marikana, where persistent rainfall led to the loss of 23 days production, reducing output by 30% to 17,847 oz and resulting in a loss. Aquarius' Zimbabwean mine, Mimosa, experienced a 6% decline in production to 28,621 oz, as well as additional costs, but higher ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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Aquarius Platinum - Bad weather affects production

June 2004

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