Don't know if anyone reads broker reports, but this one often pops up in Google News: http://tickerreport.com/banking-finance/78596/aquarius-platinum-ltd-receives-sell-rating-from-prescient-securities-aqp/ Snippets: 1.Prescient Securities reaffirmed their sell rating on shares of Aquarius Platinum Ltd (LON:AQP) in a research note issued to investors on Monday, AR Network reports. The firm currently has a GBX 44.14 ($0.72) price target on the stock. 2.Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the company. I always feel none the wiser after reading an article like that, but I hought I'd post it anyway.
20 Nov '13
The price of platinum has fallen in recent days so I've reduced my holding in anticipation that 40-41p will appear in the coming months. Might be a bad call but I believe gold will rebound quicker so focusing on that sector. GLA
14 Nov '13
RE: Mimosa Divident
Sorry link not working here is the article THE government considers platinum miner Mimosa’s planned job cuts as unjustified and wants them halted, a senior official has said. Mimosa, a 50:50 joint venture between the world’s second largest white metal miner Impala Platinum and Aquarius, last week announced it would cut 100 jobs through a voluntary retrenchment exercise to reduce operational costs in the face of unpredictable platinum prices. The mine employs about 1,500 full-time workers and nearly 200 contract labourers. But the Minister of State for Provincial Affairs in the Midlands, Jason Machaya said government felt that the platinum mine had the capacity to maintain the current workforce and had no justification to retrench its workers. Machaya, who met Mimosa management following last week’s announcement, charged that the firm had paid out $12 million in dividends two months ago. “Their move to cut jobs is unjustified. I had a meeting with management and they explained their position, but my feeling is that a job cut is not the solution and cannot be justified,” Machaya told The Source on Tuesday. Mimosa officials were not immediately available to comment. Mimosa PGM production rose by 3 percent over the year to 217,871 PGM ounces during the year-ended June 30 2013. Gross revenues declined from $286 million last year $266 million in 2013, while operational costs per PGM ounce rose 13 percent in 2013 over prior year. The mine has said deteriorating ground conditions in its underground mine have necessitated additional ground support measures that have, in turn, exerted cost pressures. Mimosa has also cited significant ground rental charges, effected by the government last year, as another cost driver. Implats and Aquarius signed a preliminary empowerment deal with the government last December, which will see locals – community trusts, workers and a state fund – taking 51 percent shareholding in Mimosa in terms of Zimbabwe’s indigenisation law. In its most recent financial report, Aquarius said there was “still some uncertainty” on how the transaction will be implemented.
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