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exploration & projects
Aquarius' exploration programme in South Africa is conducted at and around most its operations, of which the major focus was centred on the eastern limb of the Bushveld Igneous Complex. During 2010, the first phase of drilling at Zondernaam was completed and yielded promising results on both UG2 and Merensky reefs. Results to date motivate for the continued exploration of this very promising project. However, considering the current PGM market all exploration work on the project has been stopped.
In terms of the Mineral and Petroleum Resources Development Act (MPRDA), a mining right application has been lodged for Vygenhoek and is currently being processed by the DMR.
Similarly, final adjudication on the inclusion of Hoogland in Everest's mining right is eagerly anticipated.
Prospecting rights for Chieftains and Walhalla have expired and AQPSA has submitted new prospecting right applications for these projects. Renewal applications for the Millennium and Sheba’s Ridge prospecting rights have been approved by the DMR. The Renewal Applications for the Rooikraal and Fonte Verde Projects are currently being reviewed by the DMR and their granting is expected during the 2015 financial year.