Shares in Aquarius Platinum Limited (ASX:AQP, LON:AQP) continued to fall yesterday, finishing as the top 200’s worst performer after releasing another update on its 50 per cent owned Mimosa operation.
The Mimosa platinum mine is located in Zimbabwe and was struck with a fire earlier in the week.
Aquarius advises mining operations will resume next week and increase to 100 per cent of normal production by mid-June.
While the loss of production is expected to be 75,000 tones the company says Mimosa is expected to remain on budget.
Despite the upbeat forecast the dual-listed stock has come under pressure this week.
Investment bank Morgan Stanley says Aquarius is unattractive on long-term normalized value metrics and experiencing operating challenges.
Shares in Aquarius Platinum dropped 6.61 per cent yesterday, closing at $1.20.
In the first half of the 2012 financial year Aquarius Platinum extended its loss to $111.749 million.
