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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 details are as follows: Measured: 6,688 kt, 4.85 g/t 4E, 1.04 Moz; Indicated: 21,371 kt, 4.24 g/t 4E, 2.91 Moz; M&I: 28,059 kt, 4.39 g/t 4E, 3.96 Moz; Inferred: 22,550 kt, 4.45 g/t 4E, 3.23 Moz.
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. The project is expected to yield high-grade PGM concentrate produced from the UG2 Chromite Layer, which will be transported to the Impala Smelter Complex near Rustenburg in terms of an offtake agreement between the parties.","Zandfontein Tailings Retreatment Project: Eastplats started design work and construction preparation in 2017 to re-mine the tailings storage facility to produce chrome concentrates. In 2018, Eastplats and its subsidiary Barplats Mines (Pty) Limited agreed with Union Goal Offshore Solution Limited to provide for the construction, mining and processing of the tailings, and the subsequent offtake of chrome concentrate, from the Retreatment Project. The Chrome Circuit uses magnetic separation technology to improve the recovery of chrome concentrate from tailings compared to traditional spiral technology. The project has a resource of 13.68 million tonnes with better chrome recoveries and increased the life of the project from 33 months to over 60 months. The project produced revenue based on tons of material made available for processing by remining and processing the tailings, recovery of certain operational costs, and allocation of the upfront cash payment for the offtake of chrome concentrate to Union Goal."]
Leadership
Changyu (Charlie) Liu (Interim Chief Executive Officer, Mr. Liu is the Chairman of Ka An Development Co. Limited, a long-term shareholder of Eastplats. His career has focused on business investments and international trade in China, Hong Kong, and North America, with over two decades of expertise in business investment and financing.), Xinneng (David) Li (Chief Financial Officer and Corporate Secretary, Mr. Li is a highly experienced financial executive with over 25 years of international leadership experience across various sectors, including mining. He has held CFO or VP roles in several companies and holds an MBA and CPA qualifications.)

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