Aquarius Platinum Reports Improved Annual Results

Aquarius Platinum (ASX:AQP) has posted improved results for the year, according to Business Day Live. The company did well overall despite reporting a small reduction in revenues due to dampened platinum group metal prices and effects of the five month PGM miners strike in South Africa on Aquarius’s tailings treatment business.

As quoted in the publication

Aquarius reported a net loss of $13.2m for the year to end-June compared to a net loss of $288m a year earlier. It posted a headline loss of 1.13c per share compared to 8.80c. Revenue fell 2% to $233m because of lower metal prices, with the average dollar price for the basket of metals down 5% to $1,164 an ounce. The decline was offset by the rand basket price improving by 11% due to an 18% weakening of the rand against the dollar.

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