Aquarius Platinum was holding strong, despite rumours over a possible takeover bid from Xstrata.

Rumours insisted that the Anglo-Swiss mining firm Xstrata was poised to offer as much as 1,100p per share for Aquarius Platinum.

The rumours about a possible takeover sent shares in the platinum firm soaring.

Aquarius Platinum was up 10.5p to 827.5p, while shares in Xstrata were down 128p at 4,153p.

According to reports from the Independent, Aquarius Platinum would "fit in" with the strategies at Xstrata, which could bid with a Chinese state-backed group that is yet to be named.

Mvelaphanda Resources is another firm to have held talks with Aquarius Platinum about a possible deal.

Back in May, the firm held talks with Aquarius Platinum over a sale or joint venture for a section of the Booysendal platinum project.



Source:

Market Report: Aquarius shines on Xstrata bid speculation, 25/06/08
http://www.independent.co.uk/news/business/sharewatch/market-report-aquarius-shines-on-xstrata-bid-speculation-853543.html

Mvelaphanda Resources in talks with Aquarius Platinum, 20/05/08
http://www.platinum.matthey.com/media_room/mvelaphanda_resources_in_talks_with_aquarius_platinum_18600904.html