20 Jul 2011 09:00
AQUARIUS PLATINUM LIMITED 20 July 2011 Independent audit of mine support methodologies
Aquarius Platinum Limited ("Aquarius" or the "Company") announces that the results of an independent audit of the hangingwall support methodologies employed across its South African mines are now available on its website.
The audit was commissioned by Citigroup Investment Research & Analysis at the instigation of Solaris Investment Management, an Australian-based shareholder of the Company, and was carried out by Dr. Rimas Pakalnis of Pakalnis & Associates Mining Engineers, an independent expert on rock mechanics and international hangingwall support standards. Citigroup Investment Research & Analysis and Pakalnis & Associates Mining Engineers have provided a copy of the report to the Company, which is making the results available to investors.
In the conclusion to his report dated 29 April 2011, Dr. Pakalnis states that:
"The ground control program in place by AQP meets and in areas exceeds industry standards (North America/Australia/World) in terms of identifying the potential failure blocks and thereby supporting the block by "suspension loading" to arrive at "Zero Harm" conditions. This has been developed by AQP consultant S. Godden employing a methodical, analytical and numerical assessment incorporating stress, structure and the rock mass at arriving at a safe and cost effective mine strategic plan and should be considered as an industry standard."
The full report is available on the Aquarius website, www.aquariusplatinum.com.
For further information please contact:
In the United KingdomGavin Mackay+44 7909 547 042In Australia: In South Africa: Willi Boehm Stuart Murray +61 8 9367 5211 +27 (0) 11 656 1140
PINX