Business
Eastern Platinum Limited Reports Annual Results for 2019 and Provides a Corporate Update
Eastern Platinum Limited Reports Annual Results for 2019 and Provides a Corporate Update ...
About this update from Eastern Platinum Limited
[{"type":"text","content":"\n\n\n\nEastern Platinum Limited Reports Annual Results for 2019 and Provides a Corporate Update\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.prnsbls{\nBORDER-LEFT:black 1pt solid\n}\n.prntblns{\nBORDER-TOP: 1pt; BORDER-RIGHT: 1pt; BORDER-COLLAPSE: collapse; BORDER-BOTTOM: 1pt; BORDER-LEFT: 1pt\n}\n.prnsbbs{\nBORDER-BOTTOM:black 1pt solid\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prnrbrs{\nBORDER-RIGHT:black 1pt solid\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnsbt1{\nBORDER-TOP:1pt\n}\n.prnsbts{\nBORDER-TOP:black 1pt solid\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnvam{\nVERTICAL-ALIGN: MIDDLE\n}\n.prnsbl1{\nBORDER-LEFT:1pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 27, 2020\n\n\n\nTrading Symbol: ELR (TSX); EPS (JSE)\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/\n VANCOUVER, March 27, 2020 /CNW/ - Eastern Platinum Limited (\"Eastplats\" or the \"Company\") is pleased to report that it has filed its Audited Consolidated Financial Statements for the years ending December 31, 2019 and 2018 and the corresponding Management's Discussion and Analysis and Annual Information Form. Below is a summary of the Company's financial results and highlights for the year ended December 31, 2019 (all amounts in USD):\nRevenue for the year ended December 31, 2019 was $39.2 million compared to $0.4 million in the prior year due to a full year of operating results from the Retreatment Project (as defined below); Net income to equity shareholders of $0.1 million (earnings of $0.00 per share) for the year ended December 31, 2019 versus a loss of $21.8 million (loss of $0.24 per share) the prior year; and Positive working capital (excluding non-cash deferred revenue) of $9.7 million as at December 31, 2019.Operations of the Retreatment Project\nAs previously disclosed, on March 1, 2018, the Company entered into an agreement (the \"Framework Agreement\") with Union Goal Offshore Solution Limited (\"Union Goal\") relating to the construction, re-mining and processing of the tailing resource and offtake of chrome concentrate f...