Aquarius - production results
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Aquarius - production results










Aquarius released second quarter 2016 production results to 31 December 2015.

Highlights
- Attributable production from operating mines up 0.5% compared to previous corresponding period, quarter ended December 2014(pcp), but lower by 4% quarter-on-quarter
- Kroondal recorded its highest Q2 production since 2011 and production at both Kroondal and Mimosa well ahead of guidance
- Average USD PGM basket price decreased 7% for the quarter down 27% compared to pcp
- Kroondal PGM basket price increased 3% on average (due to the 10% weakness in the ZAR/Dollar exchange rate) to R11,206 per PGM ounce quarter-on-quarter - down 12% compared to the pcp
- Mimosa PGM basket price decreased 12% on average to USD890 per PGM ounce quarter-on-quarter - down 26% compared to the pcp
- The Rand weakened against the US Dollar 10% on average quarter-on-quarter down 23% compared to the pcp
- Cash costs at Kroondal were slightly down to R9,112 per PGM ounce quarter-on-quarter up 2% compared to the pcp
- Cash costs at Mimosa further reduced by 3% to USD772 per PGM ounce quarter-on-quarter - down 2% compared to the pcp
- Track record of excellent cost management continues with costs at both Kroondal and Mimosa at lower levels than three years ago despite substantial increases input costs such as labour, electricity and other costs
- Aquarius redeemed the outstanding Convertible Bonds which it issued in December 2009 at their principal amount outstanding of USD125 million in the quarter
- Cash balance at quarter end of USD42 million with a further USD2 million attributable to Aquarius in JV entities.





2016-01-28 09:18:31

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