Eastplats Reports Production Results For the Quarter Ended December 31, 2011
24 Januar 2012 - 3:30PM
UK Regulatory
TIDMELR
Eastplats Reports Production Results For the Quarter Ended December 31, 2011
FOR: EASTERN PLATINUM LIMITED
TSX, AIM SYMBOL: ELR
JSE SYMBOL: EPS
January 24, 2012
Eastplats Reports Production Results For the Quarter Ended December 31, 2011
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 24, 2012) - Eastern Platinum Limited
(TSX:ELR)(AIM:ELR)(JSE:EPS)("Eastplats") reports operating results from the Crocodile River Mine ("CRM") for the fourth
quarter ended December 31, 2011.
Production statistics for the current quarter and historical quarters are as follows:
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Quarter ended Increase (decrease)
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Q4 2011 Q4 2011
Production Dec 31, Sep 30, Jun 30, Mar 31, Dec 31, vs. vs.
statistics 2011 2011 2011 2011 2010 Q3 2011 Q4 2010
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Ounces produced 19,854 26,955 20,528 25,387 32,752 (7,101) (12,898)
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Run-of-mine
tonnes hoisted 200,919 265,889 203,166 247,369 324,879 (64,970) (123,960)
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Run-of-mine
tonnes
processed 194,532 261,280 201,986 245,500 327,872 (66,748) (133,340)
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Development
(meters) 2,929 3,976 3,562 4,219 3,501 (1,047) (572)
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On-reef
development
(meters) 1,591 2,248 2,090 2,434 1,925 (657) (334)
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Stoping units
(square meters) 31,767 40,594 31,828 44,674 53,044 (8,827) (21,277)
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Head grade
(grams/tonne) 4.05 4.08 3.93 3.93 3.97 (0.03) 0.08
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Concentrator
recovery from
ROM ore(i) 76% 78% 76% 79% 78% (2%) (2%)
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Chrome
dispatched
(tonnes) 62,791 77,531 64,913 62,498 79,461 (14,740) (16,670)
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(i) Concentrator recovery has been rounded to the nearest percentage point.
Fourth quarter mining and production at the Crocodile River Mine ("CRM") were negatively impacted by strike action by
employees of CRM's main mining contractor, JIC Mining Services, in October, and by a Section 54 shut-down of operations
following the fatality at CRM in November. Both incidents resulted in stoppages of mining operations. Concentrator
recovery decreased as a result of the subsequent disruptions to the steady state operation of the processing plant.
As previously reported on December 19, 2011, mine development projects are on track at the Zandfontein section with the
new infrastructure for underground ore and waste handling systems on 3 and 4-Level having been successfully installed,
and the ongoing development of the conveyor decline required to mine between 5 and 9-Levels making steady progress.
At the Maroelabult Section, decline development and conveyor installations are proceeding and the mine life of this
section of CRM has been extended by two years to 2016.
The Company does not expect a repeat of the negative events of 2011 at CRM during 2012 and anticipates production from
CRM to be approximately 125,000 PGM ounces.
The qualified person having reviewed the operating results presented in this press release is Mr. Brian Montpellier,
P.Eng.
Eastplats will release its full fourth quarter and year-end results on Tuesday, March 6, 2012.
Total shares issued and outstanding: 928,187,807
Cautionary Statement on Forward-Looking Information
Certain statements included herein constitute "forward-looking statements" within the meaning of applicable Canadian
securities legislation. These forward-looking statements are based on certain assumptions by the Company and therefore,
readers are cautioned that forward-looking statements are not a guarantee of future performance. There can be no
assurance that such statements will prove to be accurate and actual results could differ materially from those expressed
or implied in such forward-looking statements due to factors such as general economic and market conditions, changes in
government legislation, controls, regulations and political developments.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except to the extent required by applicable laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eastern Platinum Limited
Investor Relations
1-(604)-685-6851
1-(604)-685-6493 (FAX)
info@eastplats.com
www.eastplats.com
OR
NOMAD:
Canaccord Genuity Limited, London
Rob Collins/Bhavesh Patel
+44 20 7050 6500
OR
JSE SPONSOR:
PSG Capital (Pty) Limited
Johan Fourie
+27 21 887 9602
johanf@psgcapital.com
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information
contained herein.
Eastern Platinum Limited
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