JOHANNESBURG (miningweekly.com) – Dual-listed Eastern Platinum (Eastplats) expects to file its 2016 audited financial statements within a week.
The company on Wednesday said it had now concluded an investigation into certain transactions entered into by the company’s former management and believes its 2016 results accurately reflect the financial position of the company, enabling it to file its financial statements for 2016.
The company also expects to publish its financial statements for the first quarter of this year soon after the release of its 2016 results.
Eastplats will, meanwhile, seek further advice from its legal counsel regarding options and actions that may be necessary following the completion of the investigation into transactions entered into by former management.
The investigation was launched following the removal of the former Eastplats board in July last year. It included a review of the proposed sale of Barplats Mines, which holds the Crocodile River mine, to Hebei Zhongheng Tianda Platinum for $50-million.
Barplats’ shareholders in February rejected the deal.
Meanwhile, British Virgin Islands company AlphaGlobal Capital in April sought to have Eastplats wound up over what it said was Eastplats’ inability to pay its debts.