On the 8th December Aquarius Platinum (AQP) announced a subsidence at their Everest mine with an interuption to production of approximately ONE week. This has subsequently been altered to SIX MONTHS with more than 1000 employees temporarily laid off. The EVEREST mine produced in excess of 32,000 ozs of platimun quarterly ,or around 14% of AQP total quarterly output. This reduction plus the closure of other high cost deep underground mines must surely have an effect on industry ability to meet market requirements. The question is will this be enough to bounce the price of Platinum?
WHAT DO YOU THINK?????
DO YOUR OWN RESEARCH
PLA Price at posting:
47.1¢ Sentiment: None Disclosure: Held
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