https://www.miningweekly.com

Eastplats narrows H1 losses

14th August 2017

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

     

Font size: - +

JOHANNESBURG (miningweekly.com) – TSX- and JSE-listed Eastern Platinum (Eastplats) has narrowed its losses for the first half of this year.

For the six months to June 30, Eastplats posted a net loss of $4.7-million, at a loss of $0.04 a share, a significant improvement on the net loss of $30.5-million and a loss of $0.29 apiece achieved in the first half of 2016.

During the second quarter, the platinum-group metals company used its “available time and resources” to further the work necessary to make strategic decisions.

“Eastplats furthered the review of options for the remaining tailings storage facility at the Crocodile River mine (CRM), including metallurgical and mining test work and engineering design and refurbishing of the CRM processing facility,” the company said in a statement on Monday.

This work is scheduled to culminate in a completed and updated technical report on the tailings storage facility during this year.

In addition, Eastplats also performed a specific study and assessment of the Mareesburg openpit project, furthering the infill drilling work.

“All this work will further enable the company to make operational decisions during the last half of the year,” it added.

As at June 30, the group held cash and short-term investments of $25-million and working capital of $26.3-million.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Sika South Africa
Sika South Africa

Sika South Africa is a trusted partner for the nation’s infrastructure, commercial, residential, and industrial sectors.

VISIT SHOWROOM 
ECG Engineering
ECG Engineering

ECG provides specialised electrical engineering services to the Mining, Utilities, Materials Handling and Industrial industries, with extensive and...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.048 1.135s - 111pq - 2rq
Subscribe Now