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Watch $Pelangio Exploration (TSXV:PX) $Gold: A Journey With Idris Elba
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Caledonia Mining Cp (CALVF)
0.125 ? 0.0 (0.00%)
Volume: 49,400 @ 3:56:06 PM ET
Bid Ask Day's Range
0.11 0.126 0.117 - 0.125
CALVF Detailed Quote Wiki
Rooipoort Platinum Project -
http://www.caledoniamining.com/rooi1.php
http://investorshub.advfn.com/boards/board.aspx?board_id=5294
Caledonia Mining Cp (CALVF)
0.0857 ? 0.0017 (2.02%)
Volume: 79,700 @ 3:58:55 PM ET
Bid Ask Day's Range
0.0721 0.086 0.08 - 0.086
CALVF Detailed Quote Wiki
Caledonia Mining Cp (CALVF)
0.085 ? 0.013 (18.06%)
Volume: 568,000 @ 3:59:17 PM ET
Bid Ask Day's Range
0.0707 0.085 0.075 - 0.086
CALVF Detailed Quote
Caledonia Mining Cp (CALVF)
0.12 ? -0.005 (-4.00%)
Volume: 44,150 @ 3:59:54 PM ET
Bid Ask Day's Range
0.1072 0.123 0.11 - 0.125
CALVF Detailed Quote
Caledonia Mining Cp (CALVF)
0.124 ? -0.006 (-4.62%)
Volume: 309,917 @ 3:59:50 PM ET
Bid Ask Day's Range
0.117 0.135 0.123 - 0.13
CALVF Detailed Quote
Caledonia Mining Cp (CALVF)
0.1475 ? 0.0 (0.00%)
Volume: 230,973 @ 12:18:40 PM ET
Bid Ask Day's Range
0.145 0.1475 0.145 - 0.148
CALVF Detailed Quote
Caledonia Mng (CAL)
0.085 ? -0.01 (-10.53%)
Volume: 48,075 @ 2:36:53 PM ET
Bid Ask Day's Range
0.085 0.095 0.085 - 0.095
Full TSE:CAL Quote
Caledonia Mining Cor (OTCBB:CALVF)
Last Price (USD) $0.059
Change ? 0.0 (0.00%)
Bid 0.039
Ask 0.059
Volume 22,300
Days Range 0.055 - 0.059
Last Trade 8/6/2010 3:57:32 PM
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Caledonia Mining Cor (USBB:CALVF)
Last Price (USD) $0.067
Change ? -0.001 (-1.47%)
Bid 0.039
Ask 0.068
Volume 109,686
Days Range 0.067 - 0.068
Last Trade 5/12/2010 3:58:12 PM
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Caledonia Mining C C (TSE:CAL)
Last Price (USD) $0.065
Change ? -0.005 (-7.14%)
Bid 0.06
Ask 0.065
Volume 155,834
Days Range 0.065 - 0.065
Last Trade 3/4/2010 3:59:34 PM
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Caledonia Mining (USBB:CALVF)
Last Price (USD)
$ 0.065
Change
? 0
Bid 0.058
Ask 0.07
Volume 959,570
Day's Range 0.06 - 0.07
Last Trade 3:41:23 PM EST
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Caledonia Mining (USBB:CALVF)
Last Price (USD)
$ 0.071
Change
▼ -0.005 (-6.58%)
Bid 0.0705
Ask 0.071
Volume 1,103,900
Day's Range 0.07 - 0.075
Last Trade 7:59:59 AM EDT
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Caledonia Mining (USBB:CALVF)
Last Price (USD)
$ 0.065
Change
▼ -0.004 (-5.80%)
Bid 0.06
Ask 0.065
Volume 71,502
Day's Range 0.06 - 0.065
Last Trade 8:06:18 AM EDT
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Caledonia Mining Corp (BB) (USBB:CALVF)
Last Price (USD)
$ 0.075
Change
▲ 0.004 (5.63%)
Bid 0.071
Ask 0.075
Volume 131,769
Day's Range 0.071 - 0.075
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Last Trade:15:57:57 EDT May-27-09
GOLDEN GOOSE RESOURCES INC. (Ti
(CDNX: GGR.V)
Last Trade: 0.25
Trade Time: Mar 6
Change: Down 0.04 (12.28%)
Prev Close: 0.285
Open: 0.285
Bid: 0.25
Ask: 0.26
1y Target Est: N/A
Day's Range: 0.25 - 0.28
52wk Range: 0.07 - 0.95
Volume: 31,000
Pl $921 - maybe gold taking the lead? -
Platinum Recovery Not Imminent
By Stephen Gunnion
10 Dec 2008 at 10:31 AM GMT-05:00
http://www.resourceinvestor.com/pebble.asp?relid=48601
A sustained recovery in the price of platinum is only likely towards the end of next year as the global economy starts to emerge from recession and demand — particularly from the car industry — improves.
JOHANNESBURG (Business Day) -- However, analysts are at odds on how quickly platinum will recuperate from its steep fall this year. And it is unlikely to retrace to the record $2300/oz it traded at in March. The metal fixed in London at $817/oz yesterday.
Credit Suisse Group said yesterday it expected platinum to trade at $1,370/oz next year and continue rising in 2010 and 2011 as producers cut output. It said the industry would have to cut production to stimulate a price recovery, as supply was likely to outpace demand till the end of next year.
“About 40% of producers are operating at a loss at current prices,” Credit Suisse said.
Wolfgang Wrzesniok-Roßbach, analyst at metals group Heraeus Metallhandels, said he expected platinum to average $945/oz next year and trade in a range of $1,000- $1,400 in 2010.
Although there might be further production cuts in the short term due to low prices, Wrzesniok-Roßbach said production would stabilise in the longer term as prices rose. Mines were likely to reduce their production relatively quickly to stay in line with demand, he said. Some had already cut back, primarily because a large part of the production was no longer economically feasible.
London-based investment house Fairfax expected platinum to average $900/oz next year, down from previous estimates of $1,100/oz, because of lower car sales and the effect of sales by exchange-traded funds.
Wrzesniok-Roßbach said platinum had recovered strongly from the $759/oz it hit in late October following the firmer gold price and a stronger yen, which makes platinum cheaper for yen-based Japanese investors and jewellers. However, he said recent gains were short-lived due to the sorry state of the global car industry. Most recent figures were a “complete disaster” he said, with “not a single ray of hope”.
Spain, one of the most important European markets, reported a 50% fall in new registrations for November. Sales in England were down 37%, Italy reported a 30% drop, German sales fell 18% and French sales were 14% lower. In Japan, sales fell 18%, while Brazil’s sales were down 17%, sales in SA dropped 28% and U.S. sales toppled 37%.
Sagging physical demand from the industry was being strongly felt by the market, Wrzesniok-Roßbach said, and a quick recovery of the platinum price did not appear to be on the cards.
bargain time?
Platinum Recovery Not Imminent
By Stephen Gunnion
10 Dec 2008 at 10:31 AM GMT-05:00
http://www.resourceinvestor.com/pebble.asp?relid=48601
A sustained recovery in the price of platinum is only likely towards the end of next year as the global economy starts to emerge from recession and demand — particularly from the car industry — improves.
JOHANNESBURG (Business Day) -- However, analysts are at odds on how quickly platinum will recuperate from its steep fall this year. And it is unlikely to retrace to the record $2300/oz it traded at in March. The metal fixed in London at $817/oz yesterday.
Credit Suisse Group said yesterday it expected platinum to trade at $1,370/oz next year and continue rising in 2010 and 2011 as producers cut output. It said the industry would have to cut production to stimulate a price recovery, as supply was likely to outpace demand till the end of next year.
“About 40% of producers are operating at a loss at current prices,” Credit Suisse said.
Wolfgang Wrzesniok-Roßbach, analyst at metals group Heraeus Metallhandels, said he expected platinum to average $945/oz next year and trade in a range of $1,000- $1,400 in 2010.
Although there might be further production cuts in the short term due to low prices, Wrzesniok-Roßbach said production would stabilise in the longer term as prices rose. Mines were likely to reduce their production relatively quickly to stay in line with demand, he said. Some had already cut back, primarily because a large part of the production was no longer economically feasible.
London-based investment house Fairfax expected platinum to average $900/oz next year, down from previous estimates of $1,100/oz, because of lower car sales and the effect of sales by exchange-traded funds.
Wrzesniok-Roßbach said platinum had recovered strongly from the $759/oz it hit in late October following the firmer gold price and a stronger yen, which makes platinum cheaper for yen-based Japanese investors and jewellers. However, he said recent gains were short-lived due to the sorry state of the global car industry. Most recent figures were a “complete disaster” he said, with “not a single ray of hope”.
Spain, one of the most important European markets, reported a 50% fall in new registrations for November. Sales in England were down 37%, Italy reported a 30% drop, German sales fell 18% and French sales were 14% lower. In Japan, sales fell 18%, while Brazil’s sales were down 17%, sales in SA dropped 28% and U.S. sales toppled 37%.
Sagging physical demand from the industry was being strongly felt by the market, Wrzesniok-Roßbach said, and a quick recovery of the platinum price did not appear to be on the cards.
Platinum spot price -
http://www.ivarkreuger.com/metalcharts.htm
Travels In The Fourth Dimension (Time): The Future Of The Platinum Group Metals In The OEM Automotive Industry
By Jack Lifton
03 Nov 2008 at 03:15 PM GMT-05:00
The single largest demand today for platinum group metals (PGMs) comes from their legally mandated use in exhaust emission control for the internal combustion, hydrocarbon fueled, (ICHF), engines used in 99% of all motor vehicles now produced globally. Therefore the long-term future demand for PGMs by the global OEM automotive industry is dependent on the total number of ICHF power trains built for future vehicles. However, today this number doesn’t appear to be dependent solely on the total number of motor vehicles built from now on.
http://www.resourceinvestor.com/pebble.asp?relid=47601
GOLDEN GOOSE RESOURCES INC. (Ti
(CDNX: GGR.V)
Last Trade: 0.15
Trade Time: Oct 17
Change: Down 0.01 (6.25%)
Prev Close: 0.16
Open: 0.16
Bid: 0.16
Ask: 0.20
1y Target Est: N/A
Day's Range: 0.15 - 0.16
52wk Range: 0.15 - 0.95
Volume: 37,052
http://finance.yahoo.com/q?s=GGR.V
God Bless
GOLDEN GOOSE RESOURCES INC. (Ti(CDNX: GGR.V) Last Trade: $0.55
Trade Time: Jun 3
Change: 0.00 (0.00%)
Prev Close: 0.55
Open: 0.60
Bid: 0.55
Ask: 0.60
God Bless
http://investorshub.advfn.com/boards/board.aspx?board_id=6958
Golden Goose Resources Inc. (V.GGR) $0.46 $0.08 (+21.05%)
Volume: 47.5 k
3:47 PM EDT Mar 28, 2008
Golden Goose hits 16.88 g/t platinum over 0.50 metres in a 3.5-metre zone at its Lac Levac property
Thursday January 24, 3:28 pm ET
MONTREAL, Jan. 24 /CNW Telbec/ - Golden Goose Resources Inc. (TSX-V: GGR - News; the "Company") is pleased to report that Hole 40-07 drilled last fall on its Lac Levac property has returned an intersection of 2.64 g/t platinum (Pt) over 3.5 metres, including 16.88 g/t of Pt over 0.5 m. The Lac Levac property is wholly-owned by Golden Goose and lies in the James Bay area of northern Quebec.
Hole 40-07 was drilled on the main area of the NISK-1(x) anomaly. Detailed assay results are as follows:
Hole From To Length Ni Cu Co Pt Pd
No. (m) (m) (m) % % % (g/t) (g/t)
-------------------------------------------------------------------------
40-07 243.5 247.0 3.5 0.70 0.21 0.04 2.64 1.59
-------------------------------------------------------------------------
Including : 246.5 247.0 0.5 0.87 0.17 0.05 16.88 0.61
-------------------------------------------------------------------------
Analyses were done by Accurassay Laboratories, Thunder Bay, Ontario. All
samples are tested using a full scan ICP following an Aqua-Regia
digestion. Ore grade samples are then reanalyzed by atomic absorption.
Pt and Pd are tested by Fire Assay using lead collection.
"While up until now we have considered the Lac Levac property primarily as
a nickel play, this exceptional result is leading us to take a fresh look at
the property in terms of its platinum potential," said Jean-Marc Lacoste,
President of Golden Goose.
The Company is also analyzing the palladium (Pd) mineralization of the
eastern extension of the NISK-1 anomaly. While palladium grades in the main
section of the anomaly generally average about 0.8 g/t, results for the
eastern extension are showing an average of 2.19 g/t Pd. The best result to
date is in Hole 47-07, which returned an intersection of 3.24 g/t Pd over
8.0 metres, including a section of 3.44 g/t of Pt over 1.5 metres. Detailed
results for Hole 47-07 are as follows:
Hole From To Length Ni Cu Co Pt Pd
No. (m) (m) (m) % % % (g/t) (g/t)
-------------------------------------------------------------------------
47-07 153.70 161.70 8.00 1.03 0.72 0.05 0.91 3.24
-------------------------------------------------------------------------
Including: 159.70 161.20 1.50 1.04 1.28 0.05 3.44 5.39
-------------------------------------------------------------------------
Additional results from the fall drilling program are being compiled and
will be released in the next few days.
The Lac Levac drilling programs are planned and supervised by Marc-Antoine
Beaupré, a geological engineer and the qualified person as defined by National
Instrument 43-101. He has approved the contents of this press release.
(x) Previously called the INCO anomaly. Golden Goose has decided to
assign Cree names to the Lac Levac anomalies; "nisk" means "goose" in
Cree.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company listed on the TSX Venture Exchange under the symbol GGR. The Company is principally engaged in mineral exploration and acquisition and has a portfolio of gold and nickel-platinum group metals properties in Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information
Golden Goose Resources Inc.:
Jean-Marc Lacoste,
1-888-928-4667,
Fax: 1-888-494-5371,
lacoste@goldengooseres.com
Qualified Person under NI 43-101:
Marc Antoine Beaupré, Ing.,
(888) 928-4667,
Fax: (888) 494-5471,
http://www.goldengooseres.com
Source: GOLDEN GOOSE RESOURCES INC.
http://biz.yahoo.com/cnw/080124/e_goldengoose_drill.html?.v=1
http://investorshub.advfn.com/boards/board.asp?board_id=6958
Caledonia Mining Corp. (CALVF) $ 0.18 0.004 (+2.27%)
Volume: 1.32 m
3:59 PM EST Feb 6, 2008
dd....
http://www.caledoniamining.com/rooi1.php
Xstrata to Exploit Platinum Price
By Charlotte Mathews
09 Oct 2007 at 10:41 AM GMT-04:00
http://www.resourceinvestor.com/pebble.asp?relid=36377
JOHANNESBURG (Business Day) -- Diversified global miner Xstrata [LSE:XTA] would ramp up production at the Elandsfontein platinum mine beyond the current mine plan if it made economic sense, Xstrata Alloys CEO Peet Nienaber said yesterday.
In June, Xstrata made a $1 billion offer to buy all the shares of Eland Platinum Holdings, the owner of Elandsfontein, and Eland’s shareholders voted in favour of the deal on Friday.
This is only Xstrata’s second platinum operation. It also holds 50% of Mototolo, a joint venture with Anglo Platinum [JSE:AMS] to develop a platinum mine on the eastern limb of the Bushveld.
Nienaber said with platinum prices as high as they were, Xstrata would like to maximise opportunities for its shareholders. As a mining company, Xstrata would like to add to its portfolio, and platinum was driven by factors different to other commodities.
China was the engine room for growth in most commodities, but platinum was underpinned by global demand for vehicle fuel catalysts.
Xstrata was not looking to build up size in the platinum sector as much as quality assets with the potential to generate cash flow, Nienaber said. Asked whether Xstrata might consider buying out AngloPlat’s stake in Mototolo, he said nothing was impossible but AngloPlat wanted to be part of the joint venture as much as Xstrata did.
Elandsfontein is about to produce its first concentrate, within two years of being established as a company and within 18 months of Eland Platinum’s listing on the JSE to raise R575 million. Mining from the open pit began in January and about 650,000 tonnes of ore have been stockpiled, ready to feed into the concentrator. Development of the underground mine will start next year.
Based on capital available, Elandsfontein is designed to mine about 300,000 tonnes of ore a month from underground but, with more capital, it could be reconfigured to produce about 750,000 tonnes a month.
The team that put Eland Platinum together, headed by Chairman Loucas Pouroulis and CEO David Salter, previously returned the Barplats platinum mine to production.
Asked about his plans, Pouroulis said the team would leave Eland Platinum when Xstrata took over the management. It had another venture in the pipeline, which could be in platinum or base metals, but he could not discuss it at present.
Golden Goose gives the green light to an additional 6,000
metres of drilling at its Lac Levac property in James Bay
Friday September 14, 9:08 am ET
MONTREAL, Sept. 14 /CNW Telbec/ -
Golden Goose Resources Inc.
(TSX-V: GGR - News; the "Company") is pleased to announce
it will proceed with a second program of drilling at its
wholly-owned Lac Levac nickel property in the James Bay
area of northern Quebec. Work is scheduled to commence
on October 15, 2007.
The decision to pursue drilling is based on the conclusions
of a NI 43-101-compliant evaluation report and resource
estimate dated July 2007 by RSW Inc. (Montreal, QC), who
also provided technical oversight for the project
(see press release dated July 12, 2007).
The report showed that the Lac Levac property hosts a
mineralized zone containing an indicated resource of
516,000 tonnes at 0.89% nickel,
0.39% copper,
0.06% cobalt,
0.79 g/t palladium
and 0.14 g/t platinum
and an inferred resource of
734,000 tonnes at 0.89% nickel,
0.34% copper,
0.06% cobalt, 0.77 g/t palladium
and 0.14 g/t platinum.
"We have already followed through on two other recommendations
in the report, namely building a 1.6-km access road
to facilitate future work on the Lac Levac property,
and performing microprobe analyses to assess the metal
content of the ore minerals," said Jean-Marc Lacoste,
President of Golden Goose.
"Now that we have closed on a major financing, we are ready
to start work on increasing and upgrading our resource base."
The new program consists of drilling on the mineralized
zone extensions at depth and along strike to increase
the current resource, and in-fill drilling to upgrading
the resource.
A few holes will also be drilled to test other targets on
the property.
The program consists of a total of 6,000 metres of drilling
in 20 holes, for a budget of $1,474,000.
Assuming the program results are positive, the Company then
intends to carry out a pre-feasibility study on the deposit.
Cash Investments
Golden Goose presently has cash resources of $4,400,000
with which to pursue its exploration objectives,
including $2,200,000 in funds reserved for exploration.
The Company confirms that it has no exposure to
asset-backed commercial paper in its investment portfolio.
The Company's cash and cash equivalents are primarily held
in Canadian chartered bank accounts.
ABOUT GOLDEN GOOSE RESOURCES
Golden Goose Resources Inc. is a Canadian public company
listed on the TSX Venture Exchange under the symbol GGR.
The Company is principally engaged in mineral exploration
and acquisition and has a portfolio of gold and
nickel-platinum group metals properties in
Ontario and Quebec.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
For further information
Golden Goose Resources Inc.:
Jean-Marc Lacoste,
1-888-928-4667,
Fax: 1-888-494-5371,
lacoste1234@yahoo.com
Qualified Person under NI 43-101:
Marc Antoine Beaupré, Eng.,
(514) 878-2621,
Fax: (514) 397-0085,
http://www.rswinc.com
Source: GOLDEN GOOSE RESOURCES INC.
http://www.goldengooseres.com/
http://investorshub.advfn.com/boards/board.asp?board_id=6958
Canadian Arrow Mines Ltd. - Kenbridge Nickel-Copper project
open pit potential defined over 250 metres of strike length
Wednesday September 12, 10:49 am ET
SUDBURY, ON, Sept. 12 /CNW/ -
Canadian Arrow Mines, Ltd. -
(CRO: TSX-V) the Company reports that shallow drilling
along 30 metre spaced sections has now delineated the
near surface, open pit accessible portion of -
the Kenbridge -
Ni-Cu deposit along a minimum strike length of 250 metres.
The extent of the near surface mineralization was not
evaluated by previous operators.
CRO has received assay data for 20 drill holes
(KB-07-40 through to KB-07-59).
The assay results confirm the continuity of two shallow
mineralized zones (East and West) with grade and widths
amenable to open pit extraction.
Diamond drilling continues to delineate the open pit zones
beyond the limits of the current strike extent and down
to 150 metre vertical level.
New highlights include:
- 0.92% Ni, 0.44% Cu over 12.3 metres in drill hole KB-07-57
- 0.61% Ni, 0.28% Cu over 25.55 metres in drill hole KB-07-51
- 0.73% Ni, 0.47% Cu over 16.35 metres (West Zone) and 0.71% Ni,
0.29% Cu over 12.8 metres (East Zone) metres in drill hole KB-07-43
- 0.41% Ni, 0.214% Cu over 63.5 metres in drill hole KB-07-42
- 0.60% Ni, 0.15% Cu over 14.4 metres in drill hole KB-07-41
Todd Keast, P.Geo., Vice President of Exploration for Canadian Arrow Mines commented, "The exploration program has accelerated with the addition of a second diamond drill rig, as well as surface stripping, mapping and channel sampling. We now have a very good idea on the geometry of the deposit and the controls on mineralization necessary for the evaluation of the open pit component of the project. Looking ahead over the next two months the drilling program will begin to focus on the underground portions of the deposit with deeper drilling planned. We currently have a large backlog of samples at the lab and are working to get these samples through the system and into our database. The assays we've reported to date represent 38 of the 100 drill holes that CRO has drilled on the Kenbridge deposit. The data we gather from this drilling program will be used to complete an updated mineral resource which will be the basis for our Kenbridge Scoping Study which we are planning on releasing later this fall."
DRILL RESULTS
-------------------------------------------------------------------------
Hole From To Length %Ni %Cu %Co
-------------------------------------------------------------------------
KB-07-40 2.15 7.1 4.95 0.38 0.23 0.01
-------------------------------------------------------------------------
32 56.8 24.8 0.33 0.22 0.01
-------------------------------------------------------------------------
KB-07-41 54 68.4 14.4 0.60 0.15 0.01
-------------------------------------------------------------------------
incl 66.55 68.4 1.85 3.57 0.68 0.06
-------------------------------------------------------------------------
83.5 92.1 8.6 0.54 0.63 0.01
-------------------------------------------------------------------------
KB-07-42 11 19.2 8.2 0.50 0.23 0.02
-------------------------------------------------------------------------
88 151.5 63.5 0.41 0.14 0.02
-------------------------------------------------------------------------
incl 100 105.1 5.1 1.02 0.43 0.04
-------------------------------------------------------------------------
and 146 147.8 1.8 1.78 0.36 0.09
-------------------------------------------------------------------------
KB-07-43 2 33.5 31.5 0.40 0.16 0.03
-------------------------------------------------------------------------
incl 2 14.8 12.8 0.71 0.29 0.06
-------------------------------------------------------------------------
67 82.55 15.55 0.25 0.07 0.01
-------------------------------------------------------------------------
incl 80.25 82.55 2.3 1.27 0.29 0.04
-------------------------------------------------------------------------
100.95 117.3 16.35 0.73 0.47 0.02
-------------------------------------------------------------------------
incl 100.95 106 5.05 1.48 0.44 0.04
-------------------------------------------------------------------------
KB-07-44 2 14.9 12.9 0.40 0.40 0.01
-------------------------------------------------------------------------
KB-07-45 22 66 44 0.30 0.28 0.01
-------------------------------------------------------------------------
incl 26 37.1 11.1 0.51 0.51 0.01
-------------------------------------------------------------------------
and 50 56 6 0.53 0.51 0.01
-------------------------------------------------------------------------
KB-07-46 3.6 13 9.4 0.38 0.16 0.01
-------------------------------------------------------------------------
50.5 88.25 37.75 0.32 0.23 0.01
-------------------------------------------------------------------------
incl 74 77.2 3.2 1.76 0.77 0.03
-------------------------------------------------------------------------
KB-07-47 54 69 15 0.20 0.11 0.01
-------------------------------------------------------------------------
101.7 109.2 7.5 0.21 0.12 0.01
-------------------------------------------------------------------------
KB-07-48 assays pending
-------------------------------------------------------------------------
KB-07-49 assays pending
-------------------------------------------------------------------------
KB-07-50 42.8 85.9 43.1 0.22 0.13 0.01
-------------------------------------------------------------------------
incl 42.8 50 7.2 0.70 0.19 0.02
-------------------------------------------------------------------------
and 82.6 85.9 3.3 0.58 0.64 0.01
-------------------------------------------------------------------------
KB-07-51 43.45 69 25.55 0.61 0.28 0.02
-------------------------------------------------------------------------
incl 48 50.9 2.9 2.47 0.99 0.05
-------------------------------------------------------------------------
and 57 67.9 10.9 0.66 0.35 0.02
-------------------------------------------------------------------------
and 102 116.7 14.7 0.29 0.31 0.01
-------------------------------------------------------------------------
KB-07-52 15 35 20 0.34 0.34 0.01
-------------------------------------------------------------------------
KB-07-53 10.7 25 14.3 0.40 0.28 0.01
-------------------------------------------------------------------------
64.5 72 7.5 0.41 0.71 0.01
-------------------------------------------------------------------------
KB-07-54 12 50 38 0.29 0.19 0.01
-------------------------------------------------------------------------
incl 15 16.9 1.9 0.98 0.27 0.02
-------------------------------------------------------------------------
and 20 30 10 0.60 0.42 0.02
-------------------------------------------------------------------------
KB-07-55 no significant assays
-------------------------------------------------------------------------
KB-07-56 11 15 4 0.26 0.58 0.01
-------------------------------------------------------------------------
32 52 20 0.25 0.27 0.01
-------------------------------------------------------------------------
incl 44.3 50 5.7 0.40 0.63 0.01
-------------------------------------------------------------------------
KB-07-57 30 83 53 0.35 0.29 0.01
-------------------------------------------------------------------------
incl 60 83 23 0.61 0.40 0.02
-------------------------------------------------------------------------
61.65 73.95 12.3 0.92 0.44 0.03
-------------------------------------------------------------------------
KB-07-58 251 253 2 0.35 0.49 0.01
-------------------------------------------------------------------------
KB-07-59 161 166 5 0.24 0.44 0.01
-------------------------------------------------------------------------
The table below details drill hole survey and directional data.
Hole Northing Easting Elevation Azimuth Dip
KB-07-40 12345 6072 1513 315 -45
KB-07-41 12344 6096 1520 314 -45
KB-07-42 12344 6098 1520 305 -87
KB-07-43 12340 6114 1510 313 -45
KB-07-44 12314 6045 1506 306 -45
KB-07-45 12314 6074 1520 301 -50
KB-07-46 12313 6099 1510 310 -45
KB-07-47 12314 6130 1503 318 -45
KB-07-48 12283 6081 1518 308 -45
KB-07-49 12283 6082 1518 322 -87
KB-07-50 12283 6101 1518 303 -45
KB-07-51 12283 6125 1514 306 -45
KB-07-52 12253 6070 1515 313 -45
KB-07-53 12253 6096 1518 316 -45
KB-07-54 12253 6118 1514 315 -45
KB-07-55 12222 6075 1514 304 -46
KB-07-56 12222 6100 1514 307 -46.5
KB-07-57 12222 6120 1514 309 -45
KB-07-58 12283 6245 1524 303 -55
KB-07-59 12222 6191 1522 308 -45
The exploration program is being carried out under the direction of The Company's Vice President of Exploration, Todd Keast P. Geo., a qualified person as defined by National Instrument 43-101. The information in this release was prepared under the direction of Kim Tyler, P. Geo., President of the Company, a qualified person as defined by National Instrument 43-101.
About Canadian Arrow Mines, Ltd.
Canadian Arrow Mines, Ltd. is an established Canadian exploration and development Company committed to developing and advancing base metal deposits close to existing infrastructure through exploration, development and acquisition. Shares of Canadian Arrow Mines trade on the TSX Venture Exchange under the symbol "CRO".
If you would like to receive press releases via email please contact:
catarina(at)chfir.com
THIS PRESS RELEASE WAS PREPARED BY MANAGEMENT WHO TAKES FULL
RESPONSIBILITY FOR ITS CONTENTS.
THE TSX VENTURE EXCHANGE NEITHER APPROVES NOR DISAPPROVES OF THIS PRESS
RELEASE
This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with The TSX Venture Exchange, Canadian Securities Commissions, and the United States Securities & Exchange Commission. Not to be construed as an offer to buy or sell securities of this company.
For further information
visit the website at
http://www.canadianarrowmines.ca
or call toll free, 1-877-262-6354,
or contact
Canadian Arrow Mines, Ltd.:
R. Kim Tyler, P. Geo, President,
Tel: (705) 673-8259,
E-mail: kim@canadianarrowmines.ca
CHF Investor Relations:
Barry Leung,
Tel: (416) 868-1079 x247,
E-mail: barry@chfir.com or
Cathy Hume, CEO,
Tel: (416) 868-1079 x231,
E-mail: cathy@chfir.com
Source: Canadian Arrow Mines Ltd.
http://www.investorshub.com/boards/quotes.asp?ticker=v.cro
http://www.investorshub.com/boards/board.asp?board_id=7957
Eastplats Added to New S&P/TSX Global Mining Index
Monday June 18, 5:00 am ET
http://biz.yahoo.com/ccn/070618/200706180397411001.html?.v=1
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - June 18, 2007) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS), is pleased to report that Standard and Poor's Canadian Index Operations has added Eastplats as a constituent onto the new S&P/TSX Global Mining Index.
"We look forward to enhanced liquidity in our stock as a consequence of this inclusion onto the Global Mining Index. This further enhances the stature of Eastplats in the international mining investment community and is recognition of the enormous progress the company has made over the last year," stated Ian Rozier.
Total Shares Issued and Outstanding: 667,778,194
S&P TSX Composite Index
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Investor Relations
Eastern Platinum Limited
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: http://www.eastplats.com
+44 20 7050 6500
NOMAD: Canaccord Adams Limited, London
Email: Robin.Birchall@canaccordadams.com /
Clayton.Bush@canaccordadams.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Reports Record Quarterly Revenue, Continued Increases in Production and Development At CRM, Current Cash Position in Excess of $250 Million
Monday May 14, 8:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 14, 2007) - Eastern Platinum Limited ("the Company") (TSX:ELR - News; AIM:ELR) is pleased to report record quarterly revenue of $35.5 million for the third quarter ended March 31, 2007 ("Q3-07") a 25% increase over the $28.4 million in the previous quarter from integrated operations at its direct and indirectly held interests in South Africa.
Highlights for the quarter are:
- Production and sales of 26,807 ounces of platinum group metals ("PGM"), up from 25,873 ounces produced in Q2-07, the previous quarter.
- Revenues of $35.5 million with operating costs of $22.4 million.
- Operating margin in the quarter was $373.63/oz PGM an increase over the $228.31/oz PGM in the previous quarter.
- Adjusted Net Income of $8.9 million with a reported net loss of $(11.2 million) as a result of accounting or stock based compensation in the period o $14.2 million and from the foreign exchange loss or the quarter o $1.6 million.
- At May 11th, 2007 the Company had a cash position (including temporary investments) in excess of $250 million.
Operational highlights at the Barplats Crocodile River Mine ("CRM"):
- The Company continues to be below the PGM market average on Lost Time Injury Frequency Rate (LTIFR) at 3.22 in the quarter and at 2.66 for the nine months ended March 31, 2007.
- Accelerated development continues at the Zandfontein section of the CRM.
- Continues to equip the existing 500m deep vertical shaft at the Zandfontein section of the CRM. The vertical shaft option is considered to be the most effective method to access the deeper portions of the Zandfontein Section. The shaft will be commissioned by March 2008 and will support a production level of 120,000 tonnes per month from this section.
"The results reported this quarter reflect the excellent progress being made on all fronts, particularly at CRM where the development of reserves is building a strong foundation for the mine's continued success," stated President and CEO, Ian Rozier.
"Progress at CRM, our increased interest in Barplats to 74%, excellent assay results from Spitzkop, our approved JSE listing, and the strong fundamentals of the PGM sector, are all extremely positive for the outlook of the Company's future prospects," he stated.
Teleconference call details:
Eastern Platinum Limited will host a telephone conference call on Monday, May 14, 2007 at 1:30 p.m. Pacific Standard Time (4:30 p.m. Eastern) to discuss these results. The conference call may be accessed by dialing Toll-free 1-800-319-4610 from Canada and the United States, or 1-604-638-5340 internationally.
The conference call will be archived for later playback until May 21, 2007 and can be accessed by dialing 1-800-319-6413 using the pin code 3926 followed by the number sign.
Please go to www.eastplats.com to review our Management's Discussion and Analysis of Financial Conditions and Results of Operations. The full financial statements and management discussion has been filed on SEDAR at www.sedar.com and are available on the Company's website, www.eastplats.com. Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
Results of Operations for the three and nine month periods ended March 31, 2007
[continued in following link]
http://biz.yahoo.com/ccn/070514/200705140390384001.html?.v=1
GOLDEN GOOSE - GGR - Lac Levac - PGM's -
Latest pictures from Lac Levac -
http://www.goldengooseres.com/site/levac.html
Location:
5,500 hectares near Nemiscau, Quebec
Metals:
nickel-copper-PGM
Current Program:
- VTEM Geophysic
- 3D inversion modeling
- Prospecting and sampling
- 3,000 m of drilling
- Short term investment: $0.5 M
Program Objective:
- Measure resources of more than 1.0 m tonnes
(~ 1.0% Ni; 0.5% Cu; 1.5 g/t PGM)
Results:
- Last results include:
* Inferred Resource: 570,000t at 0.8% Ni, 0.5% Cu, 1.0 g/t PGE
(pre NI 43-101 – Flanagan McAdam 1988 internal estimate)
* Intersections:
o 1.5% Ni, 1.2 g/t PGE over 6.8 m
o 1.0% Ni, 1.0 g/t PGE over 11.9 m
o 36.8% Cr2O3 over 2.8 m
* 4,945 hectares recently staked (5,233 hectares total)
* Previous drilling intersecting 16.2 m of 0.8% Ni, 0.5% Cu, 2 g/t
PGM
- drilling results: starting Q1 2007
History:
1968 Anomalies detected with drilling program
2005 Claim area increased by more than 80%
2006 Evaluation program ($250,000)
Four anomalies identified by VTEM Geophysic
http://www.investorshub.com/boards/board.asp?board_id=6958
Eastern Platinum Reports Record Quarterly Revenue, Increases in Production and Development at CRM, New Order Mining and Prospecting Rights Issued, Cash Position of $70 Million
Wednesday February 14, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Feb. 14, 2007) - Eastern Platinum Limited ("the Company") (TSX:ELR - News; AIM:ELR) is pleased to report record quarterly revenue of $28.4 million (0.01 per share) for the second quarter ended December 31, 2006 ("Q2-07") compared with nil revenue for the second quarter for the three month period ended 31st December 2005, from integrated operations at its direct and indirectly held interests in South Africa.
Highlights for the quarter are:
- Production and sales of 25,873 ounces of platinum group metals ("PGM"), up from 22,666 ounces produced in Q1-07, the previous quarter.
- Revenues of $28.4 million with operating costs of $18.9 million.
- Operating margin in the quarter was $228.31/oz PGM.
- 11,262 meters of in-fill drilling at the Spitzkop PGM Project confirmed a high grade, platinum and rhodium rich UG2 reef.
- Further drilling reported additional high grade platinum-rhodium rich UG2 reef intersections at Spitzkop.
- Receipt of New Order Prospecting Rights at the Mareesburg PGM Project issued by the Department of Minerals and Energy ("DME").
- Appointment of J. Merfyn Roberts, B.Sc., M.Sc., CA, as a Director
- A Net Income of $7.4 million results from increased production at CRM and from the Foreign Exchange Gain for the quarter of $5.8 million (six months ended December 31, 2006 $1.6 million).
- At December 31, 2006, the Company had a cash position (including temporary investments) of $70.7 million.
Operational highlights at the Barplats Crocodile River Mine ("CRM") and the Company's ongoing feasibility study programs include:
- 1.5 million fatality-free shifts completed in the last quarter.
- Average total mining rate of 70,000 tonnes per month during the quarter (compared to 64,800 tonnes per month in the previous quarter) at an average PGM grade of 4.02 g/t (5PGE+AU).
- Underground development increased to 2,438m during the quarter up from 2,351m in the prior quarter. Additionally, one adit system is being upgraded from a tracked to a conveyor system; these two factors should increase throughput rates and decrease power unit costs.
- Additional decline development commenced at the Zandfontein section of the CRM.
- New Order Mining Right granted by the DME over the eastern part of the Maroelabult section enabling CRM to resume production on this eastern boundary thereby enabling monthly throughput from this section to increase to a production level of 40,000 tonnes a month over the next nine months; this level of production will be sustainable for approximately eight years.
- Equipping of the existing 500m deep vertical shaft at the Zandfontein section of the CRM has commenced. The vertical shaft option is considered to be the most effective method to access the deeper portions of the Zandfontein Section. The shaft will be commissioned by March 2008 and will support a production level of 120,000 tonnes per month from this section.
- Results of a technical evaluation of previous drilling on the Kareespruit section at CRM suggest that this block has the potential to be developed into a significant PGM resource; this will be further evaluated with confirmatory drilling in 2007.
- The Company and Barplats continue with their drilling programs as part of ongoing feasibility studies, with an excess of 15,000 meters being drilled during the quarter on three PGM properties.
"The increase in production and underground mine development at CRM, along with excellent results from drilling at Spitzkop are in line with our planning and expectations and reflect the excellent progress being made on all fronts," stated President and CEO, Ian Rozier.
"Progress at the Crocodile River Mine operations is very encouraging and combined with the very strong fundamentals for platinum and rhodium, suggest that our investment in Barplats, made just over 10 months ago, was a very timely and cost effective acquisition," added Mr. Rozier.
Teleconference call details:
Eastern Platinum Limited will host a telephone conference call on Thursday, February 15, 2007 at 2:00 p.m. Pacific Standard Time (5:00 p.m. Eastern) to discuss these results. The conference call may be accessed by dialing Toll-free 1-800-319-4610 from Canada and the United States, or 1-604-638-5340 internationally.
The conference call will be archived for later playback until May 15, 2007 and can be accessed by dialing 1-800-319-6413 using the pin code 9257 followed by the number sign.
Please go to www.eastplats.com to review our Management's Discussion and Analysis of Financial Conditions and Results of Operations. The full financial statements and management discussion has been filed on SEDAR at www.sedar.com and are available on the Company's website, www.eastplats.com. Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
Results of Operations for the six months ended December 31, 2006
THE REST: http://biz.yahoo.com/ccn/070214/200702140372594001.html?.v=1
Eastern Platinum Limited: Existing 500m Vertical Shaft at Crocodile River Mine to Be Commissioned
Tuesday January 16, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 16, 2007) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR), is pleased to report on recent developments at the Crocodile River Mine ("CRM") in South Africa. CRM is owned by Barplats Investments Limited ("Barplats") in which Eastplats owns a 69% indirect interest.
Equipping of the existing 500m deep vertical shaft, at a cost of R150million, has commenced at the Zandfontein section of the Crocodile River Mine. Following safety, technical and financial evaluations in 2006, the vertical shaft option is considered to be the most effective method to access the deeper portions of the Zandfontein Section at CRM. The shaft will be commissioned by March 2008 and will support a production level of 120,000 tonnes per month. Murray and Roberts Cementation have been contracted to do the work which will create approximately a further 100 jobs at the mine.
This shaft was sunk almost twenty years ago, is in excellent condition, and its rapid utilization will result in the fast-tracking of the proposed mine expansion and plans to increase production at CRM. Furthermore, in order to fast track the equipping of the shaft, one of the dormant headgears from Barplats' Kennedy's Vale property is being re-erected at CRM.
"The utilization of the vertical shaft and the availability of the headgear from Kennedy's Vale will enable us to fast track the proposed mine expansion," stated Ian Rozier, who is also chairman of Barplats.
"We are more effectively using previously written-off assets in order to increase production, and to ensure long term operational efficiency at CRM," he said.
Photos showing dismantling of headgear at Kennedy's Vale can be found on the Company's website.
Eastern Platinum Limited trades on the TSX and AIM Stock Exchanges under the trading symbol ELR.
The qualified person having prepared the contents of this news release is Mr. Ian Rozier, B.Sc.(Hons), M.Sc., P.Eng.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Limited: Barplats' Crocodile River Mine Granted New Order Mining Right
Monday December 18, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2006) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("the Company") (TSX:ELR - News; AIM:ELR), is pleased to report that the Department of Minerals and Energy in South Africa has granted New Order Mining Right to Barplats' operating property, Crocodile River Mine ("CRM") over the eastern part of the Maroelabult section, which was a new application.
The award of this New Order Mining Right will enable CRM to resume production on the eastern boundary of Maroelabult, thereby enabling monthly throughput from the Maroelabult section to increase to the original planned level of 40,000 tonnes a month over the next nine months. This level of production will be sustainable for approximately eight years.
The underground conveyor system has been installed at Zandfontein. This has resulted in a significant reduction in operating costs, and together with the receipt of the New Order Mining Right at Maroelabult, will enable CRM to proceed with plans to achieve steady state production of 180,000 tonnes per month.
CRM was also granted 11 New Order Prospecting Rights in 2006, as well as the New Order Mining Right recently granted at Maroelabult. This has enabled CRM to prospect the Crocette area and to begin infill drilling of the Kareespruit section located south-west of Maroelabult. As previously reported, Kareespruit is an on-strike and down-dip extension of the UG2 reef at Maroelabult.
"The granting of the new order right will enable management to continue to rapidly increase production levels at CRM. The mine's processing plant is already positioned for the build up to full production and we can now see our way clear to achieving this," stated Ian Rozier, who is also chairman of Barplats.
Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Ltd., Ian Rozier
Mining Metals/Oil & Gas Congress Dubai, October 31 - November 1, 2006
http://events.onlinebroadcasting.com/minellc/103106/frameset.php?file=eastern&co=eastern&pla...
Eastern Platinum Reports Record First Quarter Production and New Order Rights Issued
Monday November 27, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 27, 2006) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("the Company") (TSX:ELR - News; AIM:ELR), is pleased to report on the Company's first full quarter of operating results for the three month period ending 30th September 2006 ("Q1-07") from integrated operations at its direct and indirectly held interest in South Africa. These results, which were filed on SEDAR on November 15, 2006, summarize the progress that has been made on all the Company's PGM projects during Q1-07 and demonstrate that the Company is rapidly on its way to becoming a major producer of platinum group metals ("PGM") in South Africa.
Highlights for the quarter are;
- Production and sales up by 80% to 22,666 ounces of PGM, up from 12,570 ounces in Q1-06, the corresponding previous quarter.
- Revenues of $25.3 million with operating costs of $17.1 million.
- Operating cash flow before interest, foreign exchange, depletion, depreciation, amortization and tax ("EBITDA"), of $4,548,000, compared to a loss of $(766,000) in the Q1-06.
- Operating margin in the quarter was $237.14/oz PGM.
- Acquisition of a 49% interest in AfriMinerals Pty Ltd, our joint venture partner on the Spitzkop Platinum Project (Spitzkop).
- Signature of a Letter of Intent with Sylvania Resources Ltd ("Sylvania") on the Mareesburg property and the contiguous Sylvania Everest North property to enable the companies to review each others data.
- Receipt of two New Order prospecting rights during the quarter, one at CRM (bringing the total to 11 out of 18 applications) and one at the Kennedy's Vale Project (bringing the total to 2 out of 3 applications), from the Department of Minerals and Energy ("DME").
- At September 30, 2006, the Company had cash and cash equivalents of $91,649,000
- A Net Loss of $(2.5) million of which approximately $4.2 million being attributable to the softening of the South African Rand ("ZAR") against the Canadian dollar. The decline in the ZAR during the quarter resulted in financial statements reflecting $25 million being recorded to the equity section of the balance sheet due to the translation and consolidation of the Barplats operations and $4.5 million being recorded to the income statement due to the value carried within balance sheet captions and period transactions.
Operational highlights at the Barplats Crocodile River Mine ("CRM") and the Company's ongoing feasibility study programs include:
- 1.43 million fatality free shifts were completed in the last quarter.
- 12% higher mining rate of 64,800 tonnes per month during the quarter (compared to 58,000 tonnes per month during the Q4-06).
- Commissioning of a second 90,000 tonne per month mill giving the plant a monthly capacity of 180,000 tonne per month.
- Delivery of five new pieces of underground equipment (under a ZAR 84 million agreement with Atlas Copco to deliver 23 pieces within the 2007 fiscal year).
- Underground development doubled to 2,351m during the quarter. Additionally, one adit system is being upgraded from a tracked to a conveyor system; these two factors should increase throughput rates and decrease power unit costs.
- Additional decline development commenced at the Zandfontein section with a two year ZAR 65 million contract awarded to Murray and Roberts Cementation.
- Dewatering at Zandfontein was successfully completed and the shaft and roadways are in excellent condition.
- Results of a technical evaluation of previous drilling on the Kareespruit section at CRM suggest that this block has the potential to be developed into a significant PGM resource; this will be further evaluated with confirmatory drilling in 2007.
- Subsequent to the quarter end, the Company received notification from the DME that the old order prospecting permit at Mareesburg was approved for conversion to a New Order prospecting right.
- The Company and Barplats continue with their drilling programs as part of ongoing feasibility studies, with in excess of 15,000 meters being drilled during the quarter on three PGM properties.
- Initial results from drilling at the Spitzkop project confirm the high grades of platinum and rhodium in the UG2 reef previously reported by Impala Platinum Ltd.
"The significant increase in production at CRM is in line with our planning and expectations, reflecting the excellent progress being made in both production and underground mine development," stated President and CEO, Ian Rozier.
"Results on all fronts are very encouraging, and combined with the very strong fundamentals for platinum and rhodium, suggest that our investment in Barplats, made just over 6 months ago, was a very timely and cost effective acquisition," stated Mr. Rozier.
The full financial statements and management discussion has been filed on SEDAR and is available on the Company's website, www.eastplats.com. Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Announces New Order Rights at Mareesburg and Kennedy's Vale
Friday November 17, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 17, 2006) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR) is pleased to report on the issuance of New Order Rights on Eastplats' and Barplats' projects in South Africa by the Director General of the Department of Mineral and Energy ("DME").
New Order Prospecting Rights have been issued on the Mareesburg PGM Project ("Mareesburg") and the DME has approved the transfer of the Mareesburg mineral title to Lions Head Platinum Ltd ("LHP"), Eastplats' South African operating company for the Mareesburg project. At the Barplats Kennedy's Vale project, located immediately adjacent to the Spitzkop project in Mpumalanga Province, two New Order Prospecting Rights have also been granted by the DME.
The new Mineral and Petroleum Resources Development Act legislates that all Old Order Rights be converted into New Order Rights on all mineral properties in South Africa.
"The issuance of new order prospecting rights is a significant milestone in the development of any mining project in South Africa," stated Ian Rozier.
With the future development of Spitzkop and Kennedy's Vale, as well as the potential to enter into toll treatment contracts, a concentrator may not be required at Mareesburg. This, together with the project's amenability for open pit mining during the initial years of operation, should result in a 'fast-track' development of Mareesburg, with 'start-up' planned for 2007.
"Mareesburg is an advanced, high grade, surface accessible platinum rich project with a measured resource containing an estimated 2 million PGM ounces. The transfer of mineral title to LHP means that we can now finalize the bankable feasibility study on the project. Granting of New Order rights at the Spitzkop, Mareesburg and Kennedy's Vale projects bodes well for our activities on the eastern limb of the Bushveld and we look forward to moving these projects into production," stated Mr.Rozier.
Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Limited: Spitzkop PGM Project Feasibility Study Update
Wednesday November 8, 2:00 am ET
Infill Drilling Confirms High Grade, Platinum Rich UG2 Reef
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 8, 2006) - Mr. Ian Rozier, President & CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR), is pleased to report on initial results of infill drilling being conducted as part of the bankable feasibility study at the Spitzkop platinum group metals ("PGM") project in South Africa. The Spitzkop project, located approximately 10km from Steelpoort in Mpumalanga Province, is a high grade, platinum and rhodium rich, shallow dipping, surface accessible PGM deposit. Spitzkop is situated updip of, and adjacent to, the Kennedy's Vale project owned by Barplats Investments Limited ("Barplats"), in which Eastplats owns a 69% indirect interest.
As reported in a previous news release, Spitzkop has a Measured Resource of 37.46 Mt at an average grade of 7.7 g/t (5 PGE + Au) containing 9.3M ozs PGM's after predicted geological losses, (metal contributions or 'prill splits' on a 5 PGE + Au basis were provided in the release dated February 3rd, 2005). As part of the feasibility study, the objectives of the current infill drilling program were to;
- Confirm the high platinum and rhodium grades reported by Impala Platinum Ltd. ('Impala') from previous exploration work;
- To infill the drillhole coverage to enable reserve estimates to be made; and
- To provide dedicated UG2 reef intersections for definitive metallurgical testing.
These data will be used to assist in detailed mine planning for the 'Northern Block' at Spitzkop where the UG2 reef outcrops on surface and extends down dip at between 11 degrees to 14 degrees to a depth of 350m, and is the area proposed for initial mining at Spitzkop.
Drilling is being conducted by Geosearch Drilling, a division of Transbor. On site geological work and supervision is being carried out by MSA Geoservices under the direction of Davminex Mineral Consultants (Pty) Ltd. Assaying is being conducted by Set Point Laboratories.
Assay results to date from the infill drilling on the Northern Block have been received from eight drillholes ('mother holes'). Each hole has three deflections. The intersected reef recovered from the 'mother holes' and from two deflections were taken for assaying; the intersected reef in the third deflection in each hole will be subjected to confirmatory metallurgical testing. To date, assay results for eight holes (for a total of 24 reef intersections) have been reported. The results from this program to date are summarized below with assayed grades based on a 3 PGE + Au basis with average 'prill splits' being expressed in percentage terms:
Intersected
Depth to Top of Grade Reef
Hole # UG2 Reef (m) (g/t) Width (m)
-------------- --------------- -------- -----------
SP01 98.1 5.03 1.47
Defl.SP01-U2 6.00 1.00
Defl.SP01-U3 6.01 1.15
SP02 85.8 6.02 0.98
Defl.SP02-U1 6.00 1.00
Defl.SP02-U3 6.86 0.99
SP03 103.3 7.47 1.18
Defl.SP03-U2 5.72 1.12
Defl.SP03-U3 6.14 1.30
SP07 131.8 6.05 0.80
Defl.SP07-U2 10.73 0.61
Defl.SP07-U4 6.70 0.73
SP08 103.6 5.39 0.94
Defl.SP08-U2 6.57 1.03
Defl.SP08-U3 8.11 1.05
SP09 137.2 9.20 1.31
Defl.SP09-U3 6.26 1.28
Defl.SP09-U4 4.94 1.22
SP10 465.3 5.66 0.55
Defl.SP10-U4 8.34 0.63
Defl.SP10-U5 2.66 0.55
SP12 B 54.3 6.50 0.70
Defl.SP12 B-U3 7.41 0.94
Defl.SP12 B-U4 8.60 1.14
As stated, reef widths are intersected widths; the UG2 Reef at Spitzkop dips at between 11 degrees and 14 degrees.
The average metal contribution or 'prill splits' for the above UG2 intersections are; Pt 56%; Pd 35%; Rh 8%; Au 1%.
Hole SP10 was located to the north of the known location of the Steelpoort Fault that forms the north-west boundary of the Spitzkop Northern Block in order to assist in the geological evaluation of Barplats' De Goedeverwachting Block west of Spitzkop.
The UG2 reef is well developed and grades are consistent with previous work reported by Impala and also with those of nearby operators mining the UG2 reef. Also significant is the high component of platinum (56%) and rhodium (8%) mineralization confirming both the general high grade, and the Pt/Rh rich nature of the UG2 at Spitzkop. Further results will be reported when assay and metallurgical results have been received.
Spitzkop is envisaged to be a decline mining operation that will exploit high grade PGM resources at relatively shallow depth without the requirement for high capital cost shaft mine infrastructure and underground pre-production development. Eastplats and Barplats are evaluating the cost benefits of combining Spitzkop and Kennedy's Vale into an integrated mining operation accessing the shallow sections of both properties through Spitzkop. The deeper sections of both properties could utilize the twin vertical shafts that already exist at Kennedy's Vale to a depth of 1,000m. This infrastructure, with a current replacement cost of approximately US$300 Million, would result in a significant reduction in capital costs for the development of the mine.
Eastern Platinum Limited trades on the TSX and Aim Stock Exchanges under the trading symbol ELR.
The qualified person having prepared the contents of this news release is Mr. Ian Rozier, B.Sc.(Hons), M.Sc., P.Eng.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastern Platinum Limited: Infill Drilling of Kareespruit Section at Crocodile River
Tuesday October 31, 2:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Oct. 31, 2006) - Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR), and Chairman of Barplats Investments Limited ("Barplats"), is pleased to report that an infill drilling program is to be conducted on the Kareespruit section of the Crocodile River Mine ("CRM") Platinum Group Metals ("PGM") producer in South Africa. The Kareespruit section comprises an area of approximately 5 square kilometers located immediately adjacent to and west of the Maroelabult section of the CRM, being an on strike and downdip extension of the UG2 reef currently being mined at the Maroelabult section of CRM.
Thirteen diamond drillholes were put down at Kareespruit during a previous exploration program conducted by Impala Platinum Limited as part of their original valuation of the CRM property prior to Zandfontein and Maroelabult being put into production. Of these holes, ten intersected consistent UG2 reef at predicted depths of between 323m and 814m below surface. These data were used by Camden Geoserve ("CG") to prepare an Independent Technical Report dated April 2005 and by RSG Global in their Independent Technical Report dated January 2006. CG documented the following resource estimates for the UG2 at the Kareespruit section;
- Indicated Resource of 2.42 Mt at an average grade of 4.75g/t (5 PGE+Au) for 0.37M PGM ozs.
- Inferred Resource of 13.11 Mt at an average grade of 5.12 g/t (5 PGE+Au) for 2.16 M. PGM ozs.
- A further Inferred Resource of 1.5 Mt at an average grade of 5.36 g/t (5PGE+Au) for 0.275M ozs for the Kareespruit extension section area updip from Kareespruit.
- The metal contributions or 'prill splits' for the 5 PGE and gold assays at Kareespruit are; Pt 49.7%, Pd 21.6%, Rh 8.1%, Ru 16.6%, Ir 3.5% and Au 0.5%.
- As reported by CG, these resource estimates include a "conservative" provision of up to 45% for geological losses (Indicated 30% and Inferred 45%).
The quality of the reef intersections and the average grade suggests significant economic potential of the PGM resource at Kareespruit and warrants further definition drilling. The proposed program is an infill drill program designed to place the PGM Inferred Resource at Kareespruit into the 'Indicated' category in order to enable a pre-feasibility study to be undertaken, and will comprise 27 holes with a total estimated drill length of over 15,700m. As there is no surface property or structural geological boundary to the northwest (downdip of the Kareespruit section into the Maroelabult North section), drilling may be extended downdip to the north and west with the objective of evaluating the continuity of the UG2 reef to a maximum depth of 1000m over the strike length of approximately 5000m. The Kareespruit section has the potential to be developed into a significant PGM resource and is one of several other potential resource blocks that are known to exist on the CRM property.
"Kareespruit is just one of several resource blocks at CRM that Barplats will be evaluating in the near future with a view to bringing them to account. With the consistency of the reef intersections and grade across the property, the potential exists to develop a very large PGM resource base to be mined at CRM, and importantly, at relatively shallow depths," stated Ian Rozier, Chairman of Barplats.
Eastern Platinum Limited trades on the TSX and AIM stock exchanges under the trading symbol ELR.
The qualified person having prepared the contents of this news release is Mr. Ian Rozier, B.Sc.(Hons), M.Sc., P.Eng.
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 Eastplats and Barplats and as such are not a guarantee of future performance. 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, increased costs of production and a decline in metal prices. Eastplats is under no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable laws.
Contact:
Mr. Ian Rozier, M.Sc., P.Eng.
Eastern Platinum Limited
President and CEO
(604) 685-6851
(604) 685-6493 (FAX)
Website: www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Eastplats Signs Letter of Intent with Sylvania Resources
Thursday September 21, 6:00 am ET
VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Sept. 21, 2006) - Mr. Ian Rozier, President of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR) reports that Eastplats has signed a Letter of Intent ("LOI") with Sylvania Resources Ltd. ("Sylvania") with the objective of entering into a 'Pool and Share' Agreement on their Mareesburg and Everest North projects respectively ("the properties"), that comprise a contiguous platinum group metals ("PGM") deposit on the eastern limb of the Bushveld Igneous Complex near Steelpoort in Mpumalanga Province, South Africa.
The Company and Sylvania are currently reviewing each others data with a view to formalizing the terms and conditions of the Pool and Share Agreement with respect to the management of mining and processing operations and the sharing of all PGM concentrate produced from the properties subject to the agreement.
Contact:
Mr. Ian Rozier, M.Sc., P. Eng.
Eastern Platinum Limited
President & CEO
(604) 685-6851
(604) 685-6493 (FAX)
info@eastplats.com
www.eastplats.com
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
americano, the heavy Silvery stuff -
is richer than most ducks may imagine -
Mining still continues today in Cerro Rico -
where the main yields are silver, tin, zinc -
lead, platinum, gold and tungsten -
For over 300 years since its discovery -
the Spanish settlers of Potosi accumulated huge wealth;
the city had become an urban center with -
88 Christian Churches -
and establishments linked to the economic expansion -
of the West -
http://www.investorshub.com/boards/board.asp?board_id=5406
http://www.investorshub.com/boards/board.asp?board_id=5407
Eastern Platinum Limited: News Release Made in Compliance with AIM Re-Admission Policy Requirements
Friday July 14, 2:00 am ET
LONDON, ENGLAND--(CCNMatthews - July 14, 2006) - Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR - News; AIM:ELR), the AIM and TSX listed platinum group metal explorer today announces the re-admission of its existing common shares of no par value ("Common Shares") and admission of the New Common Shares (as defined in the Admission Document addressed to shareholders of the Company ("Shareholders") dated 10 July 2006) to trading on AIM.
On 2 May 2006, Eastplats announced the completion of a transaction to acquire the entire shareholding of three private companies, the combined assets of which represent a 69% interest in Barplats Investments Limited ("Barplats"), a platinum group metals ("PGM") producing company in South Africa. Details of the acquisition were reported in news releases dated February 15, 2006, March 16, 2006, and March 29, 2006 and the transaction had been completed in accordance with the terms as set forth in the news release of February 15th, 2006.
On the closing of the transaction, Mr. Brian Bayley and Mr. Jon Harris resigned as directors of the Company and Eastplats appointed three new directors to the board; Mr. Allen Palmiere, Mr. Jeffrey Ahbe and Mr. John Hawkrigg which was previously announced on 2 May 2006.
Ian Rozier, President of Eastplats, commented:
"With the completion of the $150 million capital raising, the closing of the transaction and the new appointments to the Board of Directors, Eastplats is very well equipped to become a high profile player in the world's PGM sector."
The AIM Admission document is available on the Company's website at www.eastplats.com.
Terms of the acquisition
Consideration for the acquisition was 288,585,122 shares of Eastplats and a cash payment of Cdn$27,708,597.
About Barplats
Barplats is a mining company listed on the JSE and trades under the symbol BLP. Barplats' core business is the mining and processing of PGM in South Africa's Bushveld Igneous Complex ("the Bushveld"), the largest source of PGM in the world. Barplats' two main assets are the Crocodile River mines on the western limb of the Bushveld located near Brits in the Northern Province and the Kennedy's Vale project on the eastern limb of the Bushveld located near Steelpoort in Mpumalanga Province, which is immediately adjacent to Eastplats' Spitzkop project. Crocodile River was re-commissioned using traditional mining methods and became profitable in 2005, and includes the Maroelabult and Zandfontein mines and the Crocette deposit.
"This acquisition will establish Eastplats as a current producer and significant player in the platinum sector. We become an immediate producer with significant production growth under development with an established operations and development team at Barplats, and effect a synergistic merger of the Spitzkop and Kennedy's Vale deposits. We do not contemplate any management changes at Barplats and look forward to working with the Barplats team to become a major producer of platinum as we continue to grow the current production at Crocodile River and move the Kennedy's Vale/Spitzkop complex into production," stated Ian Rozier, President of Eastplats.
"In less than two years we have acquired a resource base comprising 86 million PGM oz contained in shallow, high grade, platinum and rhodium rich deposits. On the Western Bushveld, the Crocodile River mines will become significant producers of PGM. On the Eastern Bushveld, Kennedy's Vale and Spitzkop can be combined into a single operation that will form one of the largest underdeveloped deposits in South Africa. With this transaction we are one step closer to our corporate objective to grow Eastplats into a major PGM producer."
The enlarged group
Introduction
The Elgin Resources Inc. ("Elgin") business concept was to acquire high grade, platinum rich PGM deposits in South Africa focussing on the eastern limb of the Bushveld Complex, which management regarded as being relatively undeveloped. In acquiring such PGM deposits the intent was to develop the Company into a consolidator of similar projects in the area thereby achieving growth by acquisition rather than exploration.
Management achieved their initial goals by acquiring three PGM projects in the eastern limb. The Company's entry into the South African PGM sector was via the acquisition of the Rooikraal Platinum Project, a prospective exploration target for PGM. This was followed in February 2004 when the Company successfully bid for the Mareesburg PGM Project, which it acquired from Samancor Limited (an affiliate of BHP-Billiton Ltd). Subsequently management identified a second PGM deposit in the eastern limb of the Bushveld Complex, the Spitzkop PGM Project, in which the Company acquired a controlling interest in October 2004.
Company History
On 2 March 2005 Elgin and Jonpol Explorations Limited ("Jonpol") signed the Amalgamation Agreement which provided for the amalgamation of the two companies to create Eastplats. The principal features of the Amalgamation were that the shares of each of Elgin and Jonpol were exchanged for shares of Eastplats on the basis of one common share of Eastplats for every issued and outstanding common share of Elgin, and one common share of Eastplats for every four issued and outstanding common shares of Jonpol. The property, assets and liabilities of each of Elgin and Jonpol became those of Eastplats.
Having raised Cdn$150 million in March 2006, the Company acquired a 100 per cent. interest in each of three private companies that in aggregate own 210,000,000 common shares of Barplats, representing a 69 per cent. interest in Barplats. Such acquisition was approved by the Company's shareholders by way of written consent. Barplats was incorporated as a public company in South Africa on 5 October 1987 and listed on the JSE in 1987. Barplats is a PGM producing company whose two main assets are the CRM Project and the Kennedy's Vale Project.
Overview of the South African Platinum industry
There are only four known PGM provinces in the world. By far the largest is the Bushveld Complex in South Africa, which covers a surface area of 60,000 sq.km with outcrop extremities of approximately 450km east west and 300km north south.
Overview of the Projects
The Spitzkop PGM Project
The Spitzkop PGM Project is a shallow platinum-rich PGM deposit located in the Steelpoort Valley approximately 15km southwest of the town of Steelpoort, which is rapidly developing into a major mining district with platinum and chrome mining currently underway and a number of possible new platinum mines being investigated and developed. The majority of these platinum mines are planning to mine the UG2 chromitite horizon in the area adjacent to the Spitzkop PGM Project.
Mareesburg PGM Project
The 2,129-hectare Mareesburg property lies in the southern part of the eastern limb of the Bushveld Complex, approximately 50km west of Lydenburg. Like the Spitzkop PGM Project, the Mareesburg PGM Project is adjacent to both Angloplats' proposed new platinum mine at Der Brochen, and the Aquarius Platinum Limited Everest North project.
Eastplats owns the rights to a 50 per cent. interest in the Mareesburg PGM Project, acquired in February 2004 from Samancor Limited, by way of a 50:50 joint venture with Lion's Head Platinum Pty Ltd. ("LHP"). Two other agreements enabled Eastplats to purchase a 51 per cent. interest in LHP, which holds a 50 per cent. interest in the project, thus increasing the Company's interest in the Mareesburg Platinum Project to 75.5 per cent.
CRM Project
The CRM Project is situated on the eastern portion of the western limb of the Bushveld Complex, in the North West Province, covering an area of 1,077 hectares. As a result of the Acquisition, Eastplats holds a 69 per cent. interest in Barplats which owns the CRM Project. The CRM Project was re-commissioned using traditional mining methods and became profitable in 2005, and includes the Maroelabult and Zandfontein sections and other near surface deposits including the Crocette deposit.
Kennedy's Vale Project
The Kennedy's Vale Project is situated on the eastern limb of the Bushveld Complex, in Mpumalanga Province, covering an area of 2,003 hectares. As a result of the Acquisition, Eastplats holds a 69 per cent. interest in Barplats which owns the Kennedy's Vale Project. As the Kennedy's Vale Project is adjacent to the Spitzkop project it is anticipated that there will be synergies from merging the Spitzkop and Kennedy's Vale deposits into a single operation.
Current and Proposed Development
A JORC-code compliant feasibility study will be undertaken on the Spitzkop and Kennedy's Vale PGM Projects. Phase 1 work will involve pre-feasibility technical work that was scheduled to commence in late 2005 early 2006. A regional office along with core storage and secure sample preparation facilities was acquired in January 2006 and rock core drilled by previous operations (Anglo and Impala) will be stored there, along with drill core recovered from the 2006 drilling program. This work will comprise confirmatory drilling to be conducted using large diameter diamond core for the purposes of recovering samples for confirmatory assay analysis and metallurgical test work, as well as for geotechnical/rock mechanics work and for the placement of hydrogeological monitoring instrumentation wells for ongoing environmental purposes. Metallurgical test work is required to confirm the anticipated high recovery factors as indicated from metallurgical data previously reported by Impala. The drilling will also be aimed at conducting further geological studies with respect to estimated geological losses prior to the re-estimation of Resources/Reserves. Much of the required environmental monitoring work and base-line studies for the project area are available as public documents produced by other operators in the immediate vicinity to Spitzkop. Phase 2 full feasibility work is anticipated to commence in the latter half of 2006 and will be based on the results of the pre-feasibility test work. There will be a certain amount of overlap of Phase 1 and 2 technical work. Phase 2 will also include mine permitting aspects as well as surface infrastructure and socio-economic studies for the proposed mine at Spitzkop. The Company anticipates that this technical work on the Spitzkop/Kennedy's Vale PGM Project will be completed in the middle of 2006 and progress into full feasibility to be complete in 2007. All work on the project will be conducted by reputable consulting engineering companies in their respective fields of expertise. With the synergies of the Spitzkop and Kennedy's Vale Project, this study will become an integrated study in order to optimize the economic benefits of the potential development of the two projects concurrently or as one combined operation.
A JORC-Code compliant feasibility study is currently being undertaken on the Mareesburg PGM Project by SRK Consultants, who are supervising all quality analysis and quality control requirements to meet these standards and have also been engaged to undertake the orebody modelling, geotechnical, hydrogeological, environmental and mine design (open pit and underground) aspects. This work is already well advanced and preliminary reports are being completed with the data from 33 diamond drill holes (approximately 3300 m) being input into the feasibility study. This drill sampling will provide core samples for assaying, geotechnical testing and metallurgical tests to determine the design parameters from pilot plant trials on bulk samples. In addition, the Company is also conducting aeromagnetic surveying and detailed Digital Terrain Modeling ("DTM") data for open pit modeling and mine design purposes.
The Company anticipated that an interim report on the Mareesburg PGM Project would be completed in the latter half of 2005 and progress into full feasibility. SRK, the Company's consultants in South Africa are currently preparing the feasibility study and as of 1 May 2006 are applying metal prices to the economic model. Several mining options are being evaluated, as well as toll treatment of mine product by third parties.
Current Trading and Prospects
In the period to 31 December 2005, Barplats has processed 577,559 tonnes of raw materials, more than double the 210,403 tonnes treated in the six month period ended June 2005. A total of 1,167 kg 5PGE+Au were sold in the period, generating revenues of R167.3 million and giving a net loss of R395.5m. Net assets for the period to 31 December 2005 were R270.6m. Rising dollar metal prices over the period boosted revenues generated in the six month period, which were some 400 per cent. higher than the total revenue for the year ended June 2005. Unit costs have decreased from R302,564/kg in the period ended June 2005 to R128,850/kg sold in the period to 31 December 2005.
The Management Team
Ian Terry Rozier, M.Sc., B.Sc. Hons, P.Eng.
President and Executive Director (appointed as Director of Elgin on 5 September 2003 and as President of Elgin on 9 January 2004).
Mr. Rozier is a professional geologist with over 25 years experience in the mining industry. Formerly with Goldfields of South Africa and a partner of Golder Associates he worked for, or was a consultant to, several major mining companies until 1987. He has several years underground mining experience in South Africa and has been involved in the exploration and development of PGM deposits in Canada, South Africa and the Philippines. He has been involved in many capital raisings in Canada and Europe for mining projects in Australia, the Far East, South America as well as South Africa and is well known in the Canadian mining industry.
David William Cohen, MBA, B.Sc., (Chem. Eng.) PR.Eng.
Non-Executive Director and Chairman (appointed as Director of Elgin 29 October 2003 and as Chairman of Eastplats on 28 April 2006).
Mr. Cohen, has over 20 years experience in the mining industry. Formerly with Fluor Engineers, he worked in South Africa as Director, Sales & Marketing and as Director of Business Development in the United States. Mr. Cohen is President and CEO of Northern Orion Resources (TSX:NNO - News) and largely responsible for the dramatic turn-around in the company's fortune, with major resource acquisitions, capital raisings and excellent performance in 2002-2006. Through his work with Northern Orion, David Cohen is well known in the North American and European capital markets.
Gordon Bruce Keep, MBA, B. Sc., (Geological Sciences) P Geo.
Non-Executive Director (appointed as Director of Jonpol on 5 November 2003).
Mr. Keep's career in corporate finance has spanned over 20 years, where his responsibilities have included financings, mergers and acquisitions and public company administration. Currently he is Managing Director Corporate Finance of Endeavour Financial Ltd. and previously, he held positions as Senior Vice President of Lions Gate Entertainment Corp. and Vice President of Corporate Finance with Yorkton Securities Inc.
Allen Joseph Palmiere, B.Comm, CA.
Chief Executive Officer and Executive Director (appointed as Director and CEO on 28 April 2006).
Mr. Palmiere is currently Executive Chairman of Barplats and Chairman of HudBay Minerals Inc, a fully integrated zinc and copper company. Mr. Palmiere has over 20 years experience and was formerly Chief Financial Officer of Zenex Corporation, a TSX and NYSE listed company, and CEO and CFO of Breakwater Resources. Mr. Palmiere has a Bachelor of Commerce degree and is a member of the British Columbia Institute of Chartered Accountants.
Mr. Palmiere has a letter of appointment dated 29 April 2006 which provides for him to act as Director of the Company for a fee determined by the compensation committee of the Company's board of Directors from time to time.
Jeffrey Belton Ahbe, B.Sc M.Sc,
Non-Executive Director (appointed as Director on 28 April 2006).
Mr. Ahbe is President of Ahbe Capital Investment Group Inc., has over 25 years experience in the energy and resource sector and was formerly Executive V.P. of Union Pacific Resources in Calgary, Alberta, Canada, a $3.5 billion oil and gas business. He has worked extensively with the international financial and investment banking community, and in various regulatory jurisdictions. Mr. Ahbe has Bachelors and Masters Degrees from Purdue University.
Mr. Ahbe has a letter of appointment dated 29 April 2006 which provides for him to act as Non-Executive Director of the Company for a fee determined by the compensation committee of the Company's board of Directors from time to time.
John Richard Hawkrigg, B.A.,
Non-Executive Director (appointed as Director on 28 April 2006).
Mr. Hawkrigg is a Managing Partner of HKMB International Insurance Brokers, Canada's largest privately owned commercial insurance brokerage, and has over 20 years experience in the insurance industry. He holds a B.A. from McMaster University in Ontario, Canada.
Mr. Ahbe has a letter of appointment dated 29 April 2006 which provides for him to act as Non-Executive Director of the Company for a fee determined by the compensation committee of the Company's board of Directors from time to time.
Officer
Barbara Eileen Dunfield, MBA B.Ed.,
Chief Financial Officer (appointed as CFO of Elgin on 26 May 2004).
Ms. Dunfield, has over 20 years experience in capital markets, business development, and corporate governance of public companies and is currently the director of several public companies in the resource sector. Ms. Dunfield's MBA thesis at Simon Fraser University was entitled "A Strategic Analysis of the PGM Industry" (2001).
Transaction StatisticsNumber of Common Shares is issue (undiluted) 513,228,821
Number of Share Options in issue 17,180,000
Number of Warrants in issue 87,999,374
Number of Common Shares in issue (fully diluted) 618,408,195Expected TimetableAdmission and dealings in the Common Shares
expected to commence on AIM 14 July 2006
This announcement does not constitute an offer to sell or the solicitation of an offer to buy these securities in any jurisdiction.
The foregoing information may contain forward-looking statements relating to the future performance of Eastern Platinum Limited. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in the Corporation's filings with the appropriate securities regulatory authorities in Canada, which filings are available on SEDAR at www.sedar.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction. The Common Shares will not and have not been registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements.
This announcement has been issued by the Company and is the sole responsibility of the Company. Canaccord is regulated in the United Kingdom by the Financial Services Authority and is acting solely for the Company in connection with the Admission and no one else. Canaccord has been appointed as nominated adviser and broker to the Company. Canaccord will not regard any other person as its client or be responsible to any other person for providing the protections afforded to clients of Canaccord nor for providing advice in relation to the Admission.
Canaccord is not making any representation or warranty, express or implied, as to the contents of this announcement. Canaccord accepts no liability whatsoever for the accuracy of any information or opinions expressed in this announcement or for the omission of any information.
Contact:
Mr. Ian Rozier
Eastern Platinum Limited
President and Executive Director
(604) 685-6851
(604) 685-6493 (FAX)
www.eastplats.com
Mike Jones / Robin Birchall / Clayton Bush
Canaccord Adams Limited
+44 20 7518 2777
--------------------------------------------------------------------------------
Source: Eastern Platinum Limited
Franklin Mining - FMNJ - Cerro Rico Silver -
Est. 1864 -
The Cerro Rico - Potosi city -
that once made Europe Rich -
Short Overview - Summary -
History -
Silver is also remarkably undervalued and is rebounding -
after 100 years of lower prices -
Celebrated investors such as Warren Buffett -
Bill Gates and George Soros -
have been demonstrating a firm belief -
in Silver -
In fact, Warren Buffet had invested over $500 million
in Silver while -
Bill Gates, invested tens of million into -
Pan American Silver -
George Soros and his brother own
25%+ of the Apex Silver Mines Mission -
http://www.apexsilver.com/social_commitment.html
2005, Pan American -
increased its interest in San Vicente to 55% -
the Company also negotiated another toll milling
agreement with EMUSA -
under which ore will be processed at a nearby -
facility until the mill on site at -
San Vicente -
is refurbished in 2006.
Once operational, the new mill is expected -
to produce at an annualized rate of -
approximately 2.5 million ounces of Silver -
At Cerro Rico Silver Mine -
the thought is -
that Combol has only done very shallow
drilling? -
as the basic for the vein res. calculations -
Combol may have been drilling 500' down? -
compare to most drillings in North America -
often goes down 3000' and more money often -
is spent on the overall exploration
programs structure -
The Cerro Rico Silver - history gives a more
clear and accurate picture of -
the Cerro Rico Silver Mine -
has produced about Ag two billion ounces -
down to about 3000' -
The city of Potosí sits at an altitude of
4090 meters above sea level - the Cerro Rico
Mtn top is above Potosi -
its tells me that its about 10000' of virgin
PM Silver ore structure to the sea level to
be mined -
with today hi-tech mining we are down -
20000' below sea level in SA.
Cerro Rico Silver Mine -
has been mined about 3000' and has about
27000' to go down of mining -
2billion ounces Silver has been mined -
its about 20 billion more Silver ounces -
to be mined - plus all other Gold and
base metals to be mined -
The Cerro Rico Mine - made Spain -
London and Paris rich -
the Potosi has been very rich in the past -
history often repeat itself -
Silver Companies > Market cap's (updated?);
Market Capitalization -
Often referred to as "market cap",
it is the total dollar value of all outstanding shares.
It is calculated by multiplying the number of shares
outstanding ...
Cerro Rico, or the Rich Mountain -
The Worlds Richest Silver Mine -
has been mined for nearly -
- 1000 years.
Silver Companies > Market cap's (updated);
FMNJ - Franklin Mining, Inc. = $57 MILLION?
http://www.investorshub.com/boards/board.asp?board_id=2957
ECU - ECU Silver = $459 MILLION
http://www.tsx.com/HttpController?GetPage=QuotesViewPage&DetailedView=DetailedPrices&Languag....
HL - Hecla Mining Co = $606.62 MILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=64251&qm_symbol=hl
SIL - Apex Silver Mines Ltd. = $882.55 MILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=44424&qm_symbol=sil
SLW - Silver Wheaton Corp. = $1.86 BILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=48684&qm_symbol=SLW
SSRI - Silver Standard Resources Inc. = $1.08 BILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=835&qm_symbol=Ssri
CDE - Coeur d'Alene Mines Corp = $1.31 BILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde
PAAS - Pan American Silver Corp. = $1.21 BILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=54157&qm_symbol=paas
UNCN - Unico Inc. = Less than $10 MILLION
http://www.investorshub.com/boards/quotes.asp?ticker=cde&qm_page=38242&qm_symbol=UNCNe
http://www.investorshub.com/boards/board.asp?board_id=177
Including - The Silver Bell Mine -
The Deer Trail Mines -
The Bromide Mines -
http://www.investorshub.com/boards/board.asp?board_id=5406
Note. if You have more updated info -
Silver comp. market cap. please, don't
hesitate to let us know -
tia.
Do not let any volatility shake You out -
the more volatility the higher it will go -
the new trend waves will often be -
162% of the previous correction -
when the weak hands exhaust themselves -
we'll see the next waves up -
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt -
as of Jun 2006:
Unless the United States gets all of its economic
house in order ? -
Gold will become the basic real money again -
(which Gold has been for 1000's of years)
and national currencies will only be money -
if backed by - Gold.
With the exception only of the periods of -
- The Great Gold Standard -
practically all governments of history -
have used their exclusive power to issue fiat money -
to defraud with totalitarian bureaucratic powers -
rob, plunder and to make slaves -
of most the people -
http://www.goldrush21.com/
http://www.usaidbolivia.org.bo/
FMNJ - got the worlds richest Silver Mine -
You finding more FMNJ info on the link below -
http://www.investorshub.com/boards/board.asp?board_id=5406
FMNJ - Silver Dollar Galaxy -
http://news.bbc.co.uk/2/hi/business/5115920.stm
Always make sure to do your own
DD -- don't listen to my dd ---
http://www.franklinmining.com/Home/tabid/1215/Default.aspx
Imo. Thanks for your participations -
Brgds
Bob
In God We Trust
Caledonia Mining Corporation - PM Producer -
Caledonia Mining Corporation -
Exploration, development and mining company -
Caledonia Mining is hoping to find an open-pit mine -
at its latest land acquisition in the Bushveld, -
CEO and president Stefan Hayden tells -
Mining Weekly Online -
http://www.miningweekly.co.za/min/sector/platinum/?show=82648
http://www.caledoniamining.com/
CALEDONIA MINING CORPORATION
Platinum
http://www.caledoniamining.com/rooi1.php
http://tinyurl.com/z5b6c
http://www.investorshub.com/boards/board.asp?board_id=2652
Eastern Platinum Ltd. (ELR.T)
"("Eastplats") aims to be a low cost PGM (platinum group metals) producer in 2006 by developing the 2 million ounce Mareesburg deposit, and the 8 million ounce Spitzkop deposit in South Africa. Both projects are high grade, platinum rich, near surface deposits all of which make for simple mining and low cost operations."
http://www.eastplats.com/s/Home.asp
The super red banksters cults -
Rothschilds World Part 1 "Glen, Rush, Michael...Here's to you boy's"
http://www.youtube.com/watch?v=yhKHwrUA5SM&feature=related
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