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Eastern Platinum Limited Announces an Agreement to Complete a Feasibility Study and Source Funding for the Recovery of PGMs Through a Joint Venture From the Redeposited Tailings
Eastern Platinum Limited Announces an Agreement to Complete a Feasibility Study and Source...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\nEastern Platinum Limited Announces an Agreement to Complete a Feasibility Study and Source Funding for the Recovery of PGMs Through a Joint Venture From the Redeposited Tailings\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, July 22, 2020\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\nTrading Symbol: ELR (TSX); EPS (JSE)\n VANCOUVER, BC, July 22, 2020 /CNW/ - Eastern Platinum Limited (\"Eastplats\" or the \"Company\") announces that its subsidiary, Barplats Mines (Pty) Ltd. (\"Barplats\"), has entered into a project framework agreement (the \"Project Agreement\") with Advanced Beneficiation Technologies Proprietary Limited of South Africa (\"ABT\"), an organization fully compliant as a Black Economic Empowerment Entrepreneur (\"BEE Entrepreneur\") and a member of the Omang Group of companies, to complete an independent feasibility study (the \"Feasibility Study\") for the development and construction of a new modular plant with a capacity to process the platinum group metals (\"PGMs\") of the tailings redeposited at a designated area of the Zandfontein Tailings Dam (the \"Zandfontein Tailings Dam\") situated at the Crocodile River Mine in South Africa at a rate of between 20,000 and 50,000 tons per month (the final rate is dependent on the optimal outcome of the Feasibility Study) (the \"Project\").\nThere are several milestones required by Eastplats and the Project Agreement to complete and establish this Project, including the completion (at ABT's risk and cost), assessment and acceptance of the Feasibility Study expected during November 2020, to be followed by the conclusion of various agreements, including a joint venture agreement between Barplats and ABT and procuring appropriate funding.\nBarplats will supply the material and related infrastructure for PGMs processing from the Zandfontein Tailings Dam, establish an appropriate off-take agreement, and support the Project through both executive management and administration.\nABT, as the inte...