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Eastern Platinum Limited Announces PGM Production and Corporate Presentation Update
Vancouver, British Columbia--(Newsfile Corp. - December 14, 2021) - Eastern Platinum Limited (...
About this update from Eastern Platinum Limited
[{"type":"text","content":"Eastern Platinum Limited Announces PGM Production and Corporate Presentation UpdateVancouver, British Columbia--(Newsfile Corp. - December 14, 2021) - Eastern Platinum Limited (TSX: ELR) (JSE: EPS) (\"Eastplats\" or the \"Company\") is pleased to provide an updated corporate operations presentation, which is available for download at the Company's website (https://eastplats.com/investors-2/corporate-presentation/). Furthermore, the Company is in the process of arranging an updated compliant independent technical report (the \"Technical Report\") on the Crocodile River Mine in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects, which will be filed for public disclosure in due course and will be the basis for fundraising efforts to restart underground operations. The report is expected to be completed in early 2022.PGM OperationsThe Company continues to optimize the respective small-scale platinum group metals (\"PGM\") circuit (\"PGM Circuit D\") and PGM main plant circuit (\"PGM Main Circuit B\") and ramp-up production at the Company's flagship project, the Crocodile River Mine, in South Africa. As disclosed previously, the completion of the reconfiguration and optimization of PGM Circuit D in Q1 2021 continued to successfully utilize the feed, following the recovery of chrome concentrate, to produce PGM concentrate. Refurbishment work commenced on the PGM Main Circuit B during April 2021 and the circuit was commissioned in October 2021 (see press release of October 29, 2021 for further information), which is expected to drive further revenue growth and gross margin improvement.Summary of PGM production to date:Month1Wet TonsDry TonsPGM Ounces ContainedDecember 202032.0623.2451.19January 202161.5043.53105.34April 2021371.74199.82523.59May 2021302.08163.48278.03June 2021386.58175.66310.74July 2021500.92218.06439.89August 2021273.58147.76214.80October 2021345.24188.06n/a2November 2021637.30309.92n/a2 Notes:1 There was no PGM production during February to March 2021 as PGM Circuit D was halted for optimization; the optimized circuit was recommissioned late March and production started in April. There was no production in September 2021 as PGM Main Circuit B was prepared for commissioning in October 2021.2 Ounces contained pending for finalization with offtaker.Diana Hu, President, Chief Exe...