Aquarius Platinum’s revenue has decreased by 2% to $1 13 million, but mine operating net cash flow increased by $ 62 million to a $ 5 million inflow, the company reported.
“Aquarius’ performance during the period tells two very different stories, a credible operational performance and delivery on safety, production and cost improvements, wrapped in a very difficult macro environment, specifically regulatory, metal price and industrial relations environment,” said Jean Nel , CEO of Aquarius Platinum.
“During the period under review Aquarius delivered on its stated focus of improving operational performance across all operations, including safety performance, production levels and unit cash costs.”
He adds that “the prevailing regulatory uncertainty in South Africa and Zimbabwe and the precarious state of the South African industrial relations environment continue to make longer term production planning and capital allocation difficult.”
Nevertheless, “Aquarius is well aware that the credible operational performance recorded in the half – year notwithstanding, no value was created for our shareholders, and that the company’s shareholder s is the only stakeholder which has not benefited from the company’s activities during the period, and preceding periods. The company will resolutely persist in its pursuit to reverse this by focussing on continued improvements in safety, production and critically cash costs.”