Aquarius Platinum revealed today (29th April) that its pgm production was flat in the third quarter of its current financial year on an annualised basis.

The world's fourth-largest platinum producer noted that year-on-year output increased when its Blue Ridge operation was taken into account, although quarterly production declined.

According to the company, its average pgm prices improved during the quarter, with platinum, rhodium and palladium increasing by 12 per cent, 17 per cent and 27 per cent respectively.

A statement read: "The traditional effect of the Christmas and New Year holiday period resulted in fewer shifts in the quarter under review at all operations.

"The commensurately lower production was exacerbated to some degree by teething problems at Blue Ridge and reduced availability of feed material at its tailings retreatment operations."

Aquarius also confirmed that its Everest Mine operations restarted on schedule and within budget, with reef now being stockpiled in advance of the concentrator starting up.

The company posted attributable production of 455,657 oz pgm 4E (platinum, palladium, rhodium and gold) for the 2009 financial year.

Source:

DJ Aquarius Platinum 3Q Net Pft $23.2M Vs $6.5M (29/04/10)

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