Aquarius dawns as good investment

AUSTRALIAN stockbroker Bell Securities Limited has again rated Perth-based Aquarius Platinum NL as a buy for resource investors.

The company’s researcher Keith Goode said, although Aquarius shares had risen by almost 90 per cent to $1.50 per share since its buy recommendation at $0.80 in its Gold Review of 2 June 1999, the broker continued to rate Aquarius a buy due to expected outperformance of its operations and an improving outIook for platinum and palladium.

Mr Goode said Aquarius’ 45 per cent held subsidiary KroondaI reported that its newly commissioned mining project is a month ahead of schedule, had mined extra tonnage, is expected to achieve breakeven by the end of December this year and has revised up its previous production expectations by 10 per cent for platinum to 110,000 ounces per annum and 20 per cent for palladium to 60,000 oz/pa.