Eastern Platinum Ltd (ELR)

[sumisu]

Eastern Platinum Limited Announces Third Quarter Results Conference Call

Friday October 24, 10:10 am ET

http://biz.yahoo.com/ccn/081024/200810240493331001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) reports that Eastplats will release third quarter results on Thursday November 13, 2008 before the market opens and will host a telephone conference call on the same day at 10:00am PST (1:00pm EST) to discuss the results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.
The conference call will be archived for later playback until Thursday November 20, 2008 and can be accessed by dialing 604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign.

S&P TSX Composite Index

Total shares issued and outstanding: 680,526,421

Contact:
Investor Relations
Eastern Platinum Limited
[phone]
[phone] (FAX)
Email: [e-mail]
Website: www.eastplats.com

--------------------------------------------------------------------------------
Source: Eastern Platinum Limited

[sumisu]

Eastplats Reports Ongoing Production Growth for the Quarter
Ended September 30, 2008

Thursday October 16, 9:08 am ET

Conference Call Thursday 16 October

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report on production from the Crocodile River Mine ("CRM") for the quarter ended September 30, 2008.

Ounces produced are up by 1.5% this quarter compared to the quarter ended June 30, 2008 to a quarterly record of 30,755 PGM ounces. Production statistics for the quarter are as follows:

[contained in following link]

http://biz.yahoo.com/ccn/081016/200810160491706001.html?.v=1

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Facts On Platinum

http://periodic.lanl.gov/elements/78.html

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Platinum Chart

[sumisu]

Eastern Platinum Reports Record Earnings for the Quarter Ended
June 30, 2008

Thursday August 14, 8:21 am ET

http://biz.yahoo.com/ccn/080814/200808140479811001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 14, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report on financial results for the quarter ended June 30, 2008.

Highlights for the quarter ended June 30, 2008 ("Q2 2008")

Eastplats recorded net earnings of $12,705,000 ($0.02 per share) compared to a net loss of $4,693,000 ($0.01 loss per share) in the second quarter of 2007 ("Q2 2007"). The Company's results improved over Q2 2007 primarily due to a significant increase in revenues and PGM production.

- Production at the Crocodile River Mine ("CRM") increased by 21% to 30,311 PGM ounces, from 25,111 PGM ounces in Q2 2007.

- Revenues from CRM increased by 125% to $50,143,000 compared to $22,324,000 in Q2 2007.

- The average sales price per PGM ounce increased by 49% to $1,657 compared to $1,113 in Q2 2007.

- EBITDA increased by 538% to $29,085,000 from $5,033,000 in Q2 2007.

- Operating cash costs decreased by 1% to $696 per ounce, compared to $702 per ounce in Q2 2007.

- Recovery rates improved to 73%, compared to 69% in Q2 2007, following planned improvements to the concentrator circuit at the Crocodile River Mine.

- Grades improved to 4.03 grams per tonne (5PGE+Au) compared to 3.97 grams per tonne (5PGE+Au) in Q2 2007.

- Stoping units for the quarter increased by 25% to a record 44,277 square meters, compared to 35,315 square meters in Q2 2007.

- Total underground development increased by 16% to 5,575 meters during the quarter (4,807 meters in Q2 2007) as the Company continues to make substantial progress in the development of the ore reserve at CRM.

- The average mining rate increased by 25% to 101,711 tonnes per month during Q2 2008 from 81,425 tonnes per month in Q2 2007.

- At June 30, 2008, the Company had a cash position (including cash and cash equivalents and short term investments) of $195,387,000 (December 31, 2007 - $189,856,000).

"We are pleased to report that production, mining rates, and underground development rates have increased compared to the first quarter of this year," said Mr. Rozier. "Our primary objectives are to increase our current rate of production at the Crocodile River Mine while maintaining a steady cost structure, and to develop and bring CRM's Crocette Section and our Spitzkop project into production as quickly as possible. With our current management team and financial resources, we are confident that we can achieve these objectives."

Financial Information

For complete details of financial results, please refer to the attached audited consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the three and six months ended June 30, 2008. These financial statements and MD&A, and the comparative financial statements for the three and six months ended June 30, 2007 are all available on SEDAR at www.sedar.com and on the Company's website www.eastplats.com.

About the Company

Eastplats is an expanding platinum group metals ("PGM") producer engaged in the mining and development of PGM's with properties located in various provinces in South Africa. All of the Company's properties are situated on the western and eastern limbs of the Bushveld Complex ("BC"), the geological environment that supports over 75% of the world's PGM supply.

The Company's primary operating asset is an 85% direct and indirect interest in Barplats Investments Limited ("Barplats"), whose main assets are the PGM producing Crocodile River Mine located on the western limb of the BC and the non-producing Kennedy's Vale Project located on the eastern limb of the BC. The Company also has a 75.5% direct and indirect interest in Mareesburg Platinum JV ("Mareesburg") and a 93.4% direct and indirect interest in Spitzkop PGM Project ("Spitzkop") both located on the eastern limb of the BC.

The Company's strategy is to maximize shareholder returns from its Crocodile River Mine and from its other mining properties under development. The Company will continue to focus on traditional cost effective mining methods that place a premium on a safe work environment. The Company takes full advantage of the current PGM price environment as it has neither hedged nor sold forward any of its PGM production.

The Company's shares are listed in Toronto on the TSX and on AIM (Alternative Investment Market) of the London Stock Exchange and trade under the symbol ELR. The Company shares are also listed on the Johannesburg Stock Exchange and trade under the symbol EPS.

The Company's Nominated Advisor ("NOMAD") in London is Canaccord Adams Limited and the Company's Sponsor in Johannesburg is PSG Capital (Pty) Limited.

Teleconference call details

Eastern Platinum Limited will host a telephone conference call on Thursday August 14, 2008 at 10:00 am Pacific (1:00 pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Thursday August 21, 2008 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#).

Total shares issued and outstanding - 680,251,290

S&P TSX Composite Index

Cautionary Statement on Forward-Looking Information

This press release, which contains certain forward-looking statements, is intended to provide readers with a reasonable basis for assessing the financial performance of the Company. All statements, other than statements of historical fact, are forward-looking statements. The words "believe", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Such factors include, but are not limited to, fluctuations in the currency markets such as Canadian dollar, South African Rand and U.S. dollar, fluctuations in the prices of PGM and other commodities, changes in government legislation, taxation, controls, regulations and political or economic developments in Canada, the United States, South Africa, or Barbados or other countries in which the Company carries or may carry on business in the future, risks associated with mining or development activities, the speculative nature of exploration and development, including the risk of obtaining necessary licenses and permits, and quantities or grades of reserves. Many of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Company. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements. Specific reference is made to the Company's most recent Annual Information Form on file with Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements.

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.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Contact:
Ian Rozier
Eastern Platinum Limited
President & C.E.O.
[phone]
[phone] (FAX)
Email: [e-mail]
Website: http://www.eastplats.com

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Source: Eastern Platinum Limited

[sumisu]

Make Sure You Have Some Platinum Stocks in that Gold Portfolio

Kenneth J. Gerbino

Jul 29, 2005

http://www.321gold.com/editorials/gerbino/gerbino072905.html

Investors that understand the logic of owning gold and gold shares should also be aware of the Platinum Group metals, usually referred to as PGM's. The main components are Platinum, Palladium and Rhodium. There are some more exotic molecular hybrids of the group as well but they are of more interest to scientists than investors. I will focus on Platinum in this article.

Platinum is actually more precious than gold and has developed a strong jewelry following to tag along with it's position as the anti-smog metal since it is used in catalytic converters on cars and trucks. The bottom line from an investment standpoint is very simple. More people are coming into the modern 21st century because of world progress and technology. China and India automobile consumption and the normal global replacement of 700,000,000 motor vehicles in the next 15-20 years will use an awful lot of Platinum.

Most of the Platinum in the world is found in South Africa (75%) and most of the near surface, low cost and large, easy to mine deposits have been discovered a long time ago and the supply portion of the equation will now start to get very tight in the years to come.

Demand has out stripped supply for the last six years by an average of 373 tonnes annually. That's $10 billion a year on average. These deficit numbers the last two years have been much smaller but I expect this could change as our 2.5 billion new industrialized friends in India and China continue to expand even at modest rates including with some recessions thrown in.

Platinum is mostly used for auto exhaust emission reduction and for jewelry and many other industrial usages. Auto and industrial usage takes up about 54% of supply and jewelry takes up about 40%. Most importantly, as the world has to turn increasingly to diesel engines, platinum will become even more important as it cannot (so far) be commercially substituted by palladium in diesel engines for emission control.

Although platinum is the rarest of the precious metals it is actually essential in the production of a wide range of goods from gasoline and paints to pacemakers, disk drives and anti-cancer drugs.

Over 75% of the platinum market is controlled by South Africa - a de facto monopoly. If one is looking for large amounts of platinum you have to go to South Africa. Almost 70% of the platinum in the world comes from an area in South Africa called the Bushveld. It is the geological structure of this area that spells out why platinum supply may not pick up very much in the future. Imagine a great bowl-like structure 295 kilometers across buried in the ground.

This is the Bushveld geological structure. Mother nature coated the base of the bowl with a 1-2 meter thick platinum group metal rich rock substance. The edges of the bowl come close to surface and the platinum metals can be mined by accessing this outer area of the bowl from surface. But towards the middle of the bowl, 1500-3000 meters below the surface a lot of platinum could be found but the cost of extracting it from such deep levels is extremely cost prohibitive.

Because the "coating" or reef as it is called is only at best 1-3 meters wide... it is a small area to extract the valuable rock. The fact that it is so narrow means all the mining must be done using a lot of manual labor. Bottom line: This deep area and the narrow mining widths will mean very high cost production and supply will be limited.

The next problem with supply is that because the South African rand has appreciated so much in the last two years, the local price of platinum in rand terms is not high enough to justify the high capital costs to start production on several of the platinum projects in the country - which is bullish for the metal price. Also the underground mining cost structure is now very high in rand terms. Therefore some projects may be cancelled and many are being delayed.

Because most of the world's platinum comes from South Africa it actually doesn't matter how high the rand goes. If it stays strong for years, then for a while new platinum production will be curtailed from lack of investment, new supply will dwindle and the price will have to go up. Therefore platinum producers will benefit from the higher metal price, even though their costs will go up - this is a unique situation.

On the other hand, if gold mining becomes more unprofitable in South Africa due to the strong currency - and that is why the S.A. gold mining industry is in trouble - plenty of investment in gold mines outside of South Africa can still take place because there is gold elsewhere, and a supply of gold from other countries would still be available. The reality is that the currency risk for platinum companies that are producers or who have low cost operations is nullified because there is almost no where else to go. Hence, many of the same risks that apply to any other commodity do not apply to platinum.

Supply of platinum may very well be constrained for many years. In the meantime, since global populations and middle class consumers are increasing daily, platinum demand will most likely be improving for decades. Since the metal is so rare and so useful, this looks to me like an excellent long-term investment opportunity. Also, the great hope on the horizon to replace gasoline engines in the future is fuel cells - and guess what - they rely on platinum.

With any commodity becoming very expensive industrial users find substitutes and then demand slows. But at $800-900 an ounce this has not happened to platinum and barring a major global recession I expect platinum to remain in a high price range.

Now even in the event of a global recession I would expect platinum to still remain above $550 an ounce. The reason is that during the last Asian meltdown (1996-99) platinum demand actually increased from 4.9 million ounces to 5.6 million ounces. During the U.S. recession in 2001-2002, platinum demand increased from 5.6 million ounces to 6.2 million ounces. There are few goods or services that can claim what platinum did during those economic slowdowns.

If you are going to invest in platinum group metal companies (PGM's), make sure they have a higher grade deposit (over 5 grams per tonne), have more platinum than palladium and have ground on the outer rim of the Bushveld. Also if they are already producers the lower cost structure the better.

The good news about Platinum is that it is not a political metal and there is no overhanging supply in the hands of the printing press boys.

[burberryjam]

Do elaborate... croc river is ramping up till 2010, and spitzkop/KV doesnt seem to be coming into production any time soon.
They do have a nice price per oz though I will give you that.
My favourite for med-long term would be Eurasia mining... they are very low on the radar and are priced at around 3p but with their 2 projects being funded in JV's with Amplats till post-BFS stage, and their alluvial platinum (cool!) project well underway, share price is going to boom once they hit out with the news. seeing the managing director buy up all the shares he can is a nice tip too..

[karbin12]

I love Eastern Platinum...and I am thinking of buying a boat load next week.