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Eastplats narrows third-quarter losses

22nd November 2019

By: Marleny Arnoldi

Online News Editor

     

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JSE- and TSX-listed Eastern Platinum’s (Eastplats’) operating loss narrowed to $800 000 in the third quarter, compared with a loss of $2.4-million in the third quarter of 2018.

As a result of a positive working capital of $8.4-million as at September 30, the net loss to shareholders decreased to $4.3-million, or $0.03 a share, for the nine months ended September 30, compared with a net loss of $8.4-million, or $0.07 apiece, for the nine months ended September 30, 2018.

Meanwhile, the company’s Barplats retreatment project reached 89% capacity during the third quarter, producing 375 222 t of chrome concentrate grading 38.54%.

Eastplats said the project would continue ramping up to full production.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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