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Eastern Platinum Limited

TSX:ELRLive AI agent

Eastplats aims to be a leading mid-tier PGM and chrome producer through the organic growth of its Western and Eastern limb projects located on the world-renowned Bushveld Complex.

Investor website: https://www.eastplats.com/

About

Eastplats aims to be a leading mid-tier PGM and chrome producer through the organic growth of its Western and Eastern limb projects located on the world-renowned Bushveld Complex. The company is committed to creating sustainable value for shareholders, employees, and host communities through profitable mining operations and a strong commitment to safety, social governance, and environmental responsibility.

Verified company data

Cash position
$6.4 million
Shares outstanding
201,901,426
Fully diluted shares
209.4 M
Mineral resource
The Zandfontein underground mine has a life of mine of more than 22 years and 1.7 million ounces of 4E PGM mineral reserves, with a potential production of 50,000 ounces per year. As of January 2022, the mineral resource class includes: Measured: 6,688 kt with 4.85 g/t 4E; Indicated: 21,371 kt with 4.24 g/t 4E; M&I: 28,059 kt with 4.39 g/t 4E; Inferred: 22,550 kt with 4.45 g/t 4E.
Projects
["Crocodile River Mine (CRM) is located within the Brits Graben, where the UG2 typically consists of a single chromite layer some 1.35m to 1.5m thick. The operation currently has a mine lease area covering 2,700 hectares and comprises an operating reclaiming section on the tailings dam, Zandfontein underground; two development sections, Crocette and Kareespruit; and a number of processing plants. The Zandfontein underground mine has a life of mine of more than 22 years and 1.7 million ounces of 4E PGM mineral reserves, with a potential production of 50,000 ounces per year. CRM has been in operation since 1987, with various phases of production and care and maintenance. Chrome reclamation began in December 2018, and PGMs reclamation began later in 2020. Eastplats announced a restart of underground mining at CRM, with initial production expected in 2024. The Zandfontein underground mine resources as of January 2022 include Measured: 6,688 kt at 4.85 g/t 4E; Indicated: 21,371 kt at 4.24 g/t 4E; Inferred: 22,550 kt at 4.45 g/t 4E. The Zandfontein Tailings Retreatment Project started design work in 2017 to re-mine the tailings storage facility to produce chrome concentrates. The project has a total resource of 13.68 million tonnes and has been financed by Union Goal Offshore Solution Limited."]
Leadership
Wanjin Yang (Chief Executive Officer, Senior exploration geologist with over 30 years of experience in major mineral exploration projects, corporate management, and corporate development. Previously Project Geologist at Whitehorse Gold Corp.), Wylie Hui (Chief Financial Officer and Corporate Secretary, Over 25 years of financial and operational experience in the mining and metals industry, previously served as CFO of several publicly listed mining companies including Sandfire Resources America Inc.)

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