Aquarius Platinum Declines, Posts Worst Annual Loss

Bloomberg reported Aquarius Platinum Ltd. (LSE:AQP) declined for the first time in four days after posting its worst annual loss.

As quoted in the market news:

The stock fell 1.2 percent to 36.23 pence by the close in London. The company reported a loss excluding one-time items of 32.88 cents a share in the year ended June 30, missing the 15 cent median of 11 analysts Bloomberg surveyed.

Aquarius idled its Marikana, Everest and Blue Ridge mines in South Africa, producer of more than three-quarters of global output of platinum, as metal prices fell and costs rose. The company also posted a record net loss of $158 million after a $97 million currency loss on revaluation of inter-company loans.

Click here to read the full Bloomberg report.