Aquarius Platinum has released its latest quarterly results showing that revenues have hit $45.3 million on the back of a ten per cent increase in production on the previous quarter.

Total attributable production stood at 70,741 pgm ounces for the September quarter, with the Kroondal site delivering record quarterly production of 67,486 pgm ounces.

The figure marked a 12.8 per cent hike on the performance of Kroondal in the previous quarter, with the cash operating margin also increasing significantly to 36 per cent.

Elsewhere the firm reported a "disappointing" set of figures for the Marikana mine, where an output rise of seven per cent in pgm ounces to 21,694 ounces was offset by higher costs, hampering the firm's growth.

The Mimosa mine saw pgm production rise by six per cent, reinforcing its position as the most reliable performing site.

The firm also revealed that the Everest Mine mobilization was underway as the group's Black Economic Empowerment (BEE) program nears completion. Construction at the site is scheduled to commence next month.

In its statement Aquarius declared: "Our BEE partners bring to Aquarius a broad range of corporate knowledge and skills. Together, we will create an empowered platinum mining company that will provide a successful example for the international investor community."

Aquarius' total consolidated net earnings for the quarter ended 30 September 2004 was $0.04 million, with group cash earnings standing at $4.8 million.