Eastplats Reports Production Results for the Quarter Ended December 31, 2012
January 29 2013 - 8:00AM
Marketwired
Eastern Platinum Limited ("Eastplats") (TSX:ELR)(AIM:ELR)(JSE:EPS)
reports operating results from the Crocodile River Mine ("CRM") for
the fourth quarter ended December 31, 2012 ("Q4 2012").
Production statistics for the current quarter and historical
quarters are as follows:
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Increase
Quarter ended (decrease)
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Q4 2012 Q4 2012
Production Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, vs. vs.
statistics 2012 2012 2012 2012 2011 Q3 2012 Q4 2011
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Ounces produced 14,066 21,273 26,412 24,474 19,854 (7,207) (5,788)
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Run-of-mine tonnes
hoisted 127,654 206,176 257,250 247,538 200,919 (78,522) (73,265)
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Run-of-mine tonnes
processed 123,222 203,279 252,883 235,354 194,532 (80,057) (71,310)
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Development
(meters) 1,365 2,066 2,922 3,117 2,929 (700) (1,564)
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On-reef
development
(meters) 350 966 1,653 1,704 1,591 (616) (1,241)
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Stoping units
(square meters) 16,468 28,943 40,959 39,857 31,767 (12,475) (15,299)
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Head grade
(grams/tonne) 4.09 4.08 3.99 4.07 4.05 0.01 0.04
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Concentrator
recovery from ROM
ore(i) 72% 76% 79% 77% 76% (4%) (4%)
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Chrome dispatched
(tonnes) 45,306 53,761 56,521 74,920 62,791 (8,455) (17,485)
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(i) Concentrator recovery has been rounded to the nearest percentage point.
The Company is pleased to report that its implementation of a
comprehensive mine development plan at CRM is progressing well. As
a result of the planned temporary suspension of stoping at the
Zandfontein section, production in Q4 2012 is lower than in
previous quarters.
The Company will no longer be providing quarterly production
figures in advance of the release of its quarterly financial
results until full production resumes at Zandfontein, which is
anticipated to be in 2014.
The qualified person having reviewed the operating results
presented in this press release is Mr. Brian Montpellier,
P.Eng.
Eastplats expects to release its full fourth quarter results on
Thursday, March 14, 2013.
Total shares issued and outstanding: 928,187,807
Cautionary Statement on Forward-Looking Information
Certain statements included herein constitute "forward-looking
statements" within the meaning of applicable Canadian securities
legislation. These forward-looking statements pertain to the price
of PGMs, fluctuations in currency markets (specifically the South
African Rand and the U.S. dollar), the future development of the
Company's projects, and the Company's plans for its properties.
These forward-looking statements are based on certain assumptions
by the Company and therefore, readers are cautioned that
forward-looking statements are not a guarantee of future
performance. There can be no assurance that such statements will
prove to be accurate and actual results could differ materially
from those expressed or implied in such forward- looking statements
due to factors such as general economic and market conditions,
changes in government legislation, controls, regulations and
political developments.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except to the extent
required by applicable laws.
No stock exchange, securities commission or other regulatory
authority has approved or disapproved the information contained
herein.
Contacts: Eastern Platinum Limited Investor Relations
1-(604)-685-6851 1-(604)-685-6493 (FAX)info@eastplats.com
www.eastplats.com NOMAD: Cannaccord Genuity Limited, London Rob
Collins +44 (0) 207 7523 8000 JSE SPONSOR: PSG-Capital (Pty)
Limited Johan Fourie +27 21 887 9602johanf@psgcapital.com
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