Platinum play Ridge Mining has turned an £800,000 interim loss into a £4.6 million first-half profit.

AIM-quoted Ridge, which is focused on platinum group metal ventures in South Africa's Bushveld, sold its Fountains Ridge project for £4.9 million, netting a pre-tax profit of £4.65 million, and disposed of several other 'non-core' assets during the six months to June. The company now expects its Blue Ridge project to move into production in the fourth quarter of 2008, while the feasibility study on its key Sheba's Ridge project is 'on target' to be completed by December this year.

Last year, Chinese mining giant Zijin bought a chunk of Ridge at 45p, with warrants at 70p. The shares, which had collapsed to 25p by November 2005, have now recovered to 111.5p, up 4.5p this morning, valuing the company at £102 million.

They should have further to go.

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Ridge Mining	AIM	£27.43m	30.00p	0.00p
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