Exploration and development group African Platinum has announced its results for the year ending March 31st 2005.

In line with expectations announced in the firm's preliminary results, African Platinum registered a loss of 54 pence per share.

However, the firm maintains that it is in a strong position and chairman Charles Hansard stated in the report that the company has now been transformed from an entrepreneurial entity into an asset-rich investment vehicle.

The firm was boosted earlier in the year with a good initial report on its Leeuwkop operations and it is confident that this development will be one of the "most attractive investment opportunities" in the platinum world.

Mr Hansard added that the company currently has "the equivalent of approximately US$25 million in cash and no debt", meaning that African Platinum is "well placed to continue with the bankable feasibility study as well as to invest further in exploration opportunities until project funding has been secured".


Ÿ Adfero Ltd