All these Russian sanctions gonna make South African PGM producers alot more appealing

ca:ELR - Sector's just gotten HOT


Last price .51 Dec. 8th

https://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=ca%3Aelr&insttype=&freq=&show=


See also PGE (Group Ten), PDM,

ANALYSIS-Platinum leaves gold in the dust as ratio widens

Tue Apr 20, 2010 9:01pm

* Rising platinum-gold ratio suggests recovery taking root

* Better footing for economy rates will rise

* Headwinds for growth remain in high debt, soft labour mkt

By Jan Harvey and Veronica Brown

http://in.reuters.com/article/domesticNews/idINLDE63J1D320100420?rpc=401&feedType=RSS&feedName=domesticNews&rpc=401&sp=true

LONDON, April 20 (Reuters) - The recovery of platinum prices XPT= from multi-year lows hit at the height of global economic panic in 2008 means they are finally approaching pre-crisis levels and, on the face of it, so are the metal's fundamentals.

A scan of price action paints an impressive picture for platinum, used to clean auto emissions and in jewellery. The metal has outperformed bellwether gold to climb 17 percent so far this year to around $1,715 an ounce, versus gold's 4 percent rise XAU= to around $1,140 an ounce.

Fundamental supports for the market include new investment products and signs of recovery for a battered global car sector. At the same time, U.S. real interest rates are rising, raising the prospect of monetary tightening as a headwind for gold.

Platinum's premium over gold hit a 17-month high in early April, fuelled by hopes the recovery may be gaining traction.

The gold/platinum ratio -- how much platinum is needed to buy an ounce of gold -- hit its lowest since October 2008 in early April at 0.66, a level last seen before crisis engulfed the global economy.

Analysts say while some of this rise is due to a climb in investment, the ratio movement suggests real consumer appetite is now in platinum's favour.

"The gold-platinum ratio should be a leading indicator of what is happening in the real economy," said Standard Bank analyst Walter de Wet. "Gold is largely driven by accommodative monetary policy, while platinum is a real economy variable."

Platinum prices hit parity with gold in late 2008 as demand for raw materials tumbled in the throes of economic downturn, sending investors towards bullion as a safe store of value.

Attempts to combat the slump by slashing interest rates also cut the opportunity cost of holding non-interest-bearing gold.

But the picture changed early this year as hopes for a recovery in car demand lifted platinum.

Chinese car sales have been strong so far this year, growing by almost two-thirds last month as buoyant consumer sentiment lifted spending, while other leading car markets, notably the United States, are also recovering from last year's slump.

"A major driver of industrial demand going forward will be restocking by auto manufacturers and growth from emerging markets," said Bradley George, co-portfolio manager at the Investec Global Gold Fund.

REAL USAGE?

While the recovery in car sales is a fairly clear indicator that industrial demand for the metals is set to rise, some analysts question how far real platinum usage is increasing.

The European car market -- whose chiefly diesel-powered vehicles use a higher loading of platinum than palladium -- has lagged growth seen elsewhere, although luxury carmaker Daimler late on Monday reported healthy demand for its cars.

More broadly, clear headwinds still remain for global economic growth, with high debt levels in major economies like the United States, UK, Japan and some euro zone countries still worrying investors, and U.S. labour markets persistently soft.

Bearing that in mind, some suggest the metal's rally and the widening platinum/gold ratio may be just a little premature.

"It may be a mirage -- industrial production figures suggest that there is certainly an improvement in the economic situation, but not as much as the ratio would suggest," said Ross Norman, director of TheBullionDesk.com.

As evidence, he points to strong inflows into the platinum backed exchange-traded fund launched in New York in January.

"The strength in the platinum group metals ETFs has probably overstated the coming together of the ratios to the pre-crisis levels, simply because of their popularity," he said.

In the short term, the gains platinum has already made and the fragility of the recovery are raising some caution towards the metal.

At the same time, gold has rebounded as concerns over charges laid by U.S. regulators against Goldman Sachs and Greek debt lift demand for a haven from volatile markets.

The ratio of the two metals has already inched back up to 0.67. But analysts are confident it will drop once more.

With investment currently making up a disproportionately large proportion of gold demand, any change to the low interest rate environment or to risk appetite may hurt gold. The market is also awaiting further International Monetary Fund gold sales.

This, added to the stronger platinum outlook, is set to lead to a widening differential between the two. The argument is whether it will be platinum's gains or gold's losses that drives this, with the former nosing ahead in analysts' estimations.

"If the ratio were to return to pre-crisis levels of about 0.5, either gold would have to fall to about $850-900, or platinum would have to rise to $2,000," said VM Group analyst Matthew Turner. "At the moment the latter seems more possible."

(Reporting by Veronica Brown and Jan Harvey; Editing by Amanda Cooper)

UPDATE 1-Eastern Platinum says South African mine output falls

Fri Apr 16, 2010 10:14am EDT

http://www.reuters.com/article/idAFSGE63F0IC20100416?rpc=44

* Says Crocodile River mine Q1 production falls 10 pct

* Cites slower mine start up after Dec break

* Q1 production 30,531 ounces vs 34,000 ounces last year

* Says on track for more productive Q2

April 16 (Reuters) - Eastern Platinum Ltd (ELR.TO) posted a 10 percent decline in quarterly production at its Crocodile River mine in South Africa, hurt by a slower-than-expected start up after its December break, but sees a recovery in the second quarter.

The mining company said its underground development was also hurt by the slow start in January, with total development meters down 14 percent sequentially, but said mining rates have improved to normal levels since January.

"The head grade and PGM (platinum group metal) recoveries have remained consistent, putting us on track for a much more productive second quarter," said Chief Executive Ian Rozier.

For the first quarter, the company produced 30,531 ounces, compared with 34,000 ounces last year.

Chrome production fell 5 percent to 103,852 tonnes.

Shares of the Vancouver, British Columbia-based company were down about 5 percent at C$1.48 in early trade on the Toronto Stock Exchange. (Reporting by Abhiram Nandakumar in Bangalore; Editing by Roshni Menon)

Eastplats Reports Operating Results for the Quarter Ended March 31, 2010

Press Release Source: Eastern Platinum Limited On Friday April 16, 2010, 9:05 am EDT

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2010) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report operating results from the Crocodile River Mine ("CRM") for the first quarter ended March 31, 2010.

Production statistics for the current quarter and historical quarters are as follows:

http://finance.yahoo.com/news/Eastplats-Reports-Operating-ccn-4248642564.html?x=0&.v=1

Eastern Platinum Reports Results for the Year Ended December 31, 2009

Press Release Source: Eastern Platinum Limited On Wednesday March 31, 2010, 8:14 am EDT

http://finance.yahoo.com/news/Eastern-Platinum-Reports-ccn-103981321.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2010) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report financial results for the year ended December 31, 2009.

Highlights for the quarter ended December 31, 2009 ("Q4 2009")

- Eastplats recorded a net profit attributable to equity shareholders of the Company of $330,000 ($0.00 per share) compared to a net loss attributable to equity shareholders of $230,176,000 ($0.34 loss per share) in the fourth quarter of 2008 ("Q4 2008").

- Production at CRM was 34,000 PGM ounces, an increase of 17% compared to 29,015 PGM ounces in Q4 2008.

- EBITDA was $10,008,000 compared to negative EBITDA of $18,179,000 in Q4 2008.

- The U.S. average delivered basket price per PGM ounce was $860, an increase of 56% compared to $550 in Q4 2008.

- The Rand average delivered basket price per PGM ounce was R6,450, an increase of 18% compared to R5,456 in Q4 2008.

- Rand operating cash costs net of by-product credits were R4,661 per ounce, a decrease of 19% compared to R5,734 per ounce in Q4 2008. Rand operating cash costs were R5,296 per ounce, a decrease of 15% compared to R6,231 per ounce in Q4 2008.

- U.S. dollar operating cash costs net of by-product credits were $621 per ounce, a 7% increase from $578 per ounce achieved in Q4 2008. Operating cash costs were $706 per ounce, an increase of 12% compared to the $628 per ounce in Q4 2008.

- Head grade increased to 4.1 grams per tonne in Q4 2009 from 4.0 grams per tonne in Q4 2008.

- Average concentrator recovery increased to 79% from 76% in Q4 2008.

- Development meters decreased by 29% to 3,254 meters and on-reef development decreased by 27% to 2,135 meters compared to Q4 2008, mainly as a result of the planned reduction in reserve development that was initiated in November 2008.

- Stoping units increased by 19% to 55,153 square meters compared to Q4 2008.

- Run-of-mine rock ore hoisted increased by 14% to 321,393 tonnes compared to 280,933 tonnes in Q4 2008.

- Run-of-mine ore processed increased by 8% to 321,983 tonnes in Q4 2009 compared to 298,514 tonnes in Q4 2008.

- The Company's Lost Time Injury Frequency Rate (LTIFR) was 3.45 in Q4 2009, an increase of 78% compared to 1.94 in Q4 2008.

- At December 31, 2009, the Company had a cash position (including cash, cash equivalents and short term investments) of $21,658,000 (December 31, 2008 - $61,063,000).

Highlights for the year ended December 31, 2009

- Eastplats recorded a net profit attributable to equity shareholders of the Company of $5,650,000 ($0.01 per share) compared to a net loss attributable to equity shareholders of $209,381,000 ($0.31 loss per share) in the year ended December 31, 2008.

- Production at CRM was 130,338 PGM ounces, an increase of 11% compared to 117,909 PGM ounces in 2008.

- EBITDA was $28,526,000 compared to EBITDA of $34,720,000 in 2008.

- The U.S. average delivered basket price per PGM ounce was $723, a decrease of 42% compared to $1,255 in 2008.

- The Rand average delivered basket price per PGM ounce was R6,006, a decrease of 40% compared to R9,956 in 2008.

- Rand operating cash costs net of by-product credits were R4,306 per ounce, a decrease of 12% compared to R4,893 per ounce in 2008. Rand operating cash costs were R5,286 per ounce in 2009, a decrease of 4% compared to R5,530 per ounce in 2008.

- U.S. dollar operating cash costs net of by-product credits were $521 per ounce, a 16% decrease from $622 per ounce achieved in 2008. Operating cash costs were $636 per ounce, a decrease of 6% compared to the $674 per ounce in 2008.

- Head grade increased to 4.1 grams per tonne in 2009 from 4.0 grams per tonne in 2008.

- Average concentrator recovery increased to 79% from 76% in 2008.

- Development meters decreased by 26% to 15,035 meters and on-reef development decreased by 23% to 9,302 meters compared to 2008, as a result of the planned reduction in reserve development that was initiated in November 2008.

- Stoping units increased by 11% to 187,856 square meters.

- Run-of-mine ore processed increased by 4% to 1,225,508 tonnes in 2009 from 1,175,519 tonnes in 2008.

- The Company's twelve month (LTIFR) was 2.21 in 2009, a decrease of 18% compared to 2.70 in 2008.

"We are pleased to end the year strongly with record quarterly production after a challenging third quarter that was disrupted by industry-wide labour action. Despite this disruption, all aspects of our mining operations at CRM improved in 2009 compared to 2008, with increased production, increased recoveries, and operating cash costs down by 16%. With the addition of new ounces from the Crocette section within the next twelve months, our growth plans for CRM to be a 200,000 ounce per year producer are back on track. We are also currently evaluating alternatives for the development of our Eastern Limb projects in order to significantly increase the growth profile of the Company. With an increasing production profile at CRM, low cost operations, no debt, and with all our assets intact, Eastplats is very well positioned to benefit quickly as PGM prices continue to improve", said Ian Rozier.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Financial Information

For complete details of financial results, please refer to the attached audited consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2009. These financial statements and MD&A, and the comparative financial statements for the year ended December 31, 2008 are all available on SEDAR at http://www.sedar.com/ and on the Company's website www.eastplats.com.

Teleconference call details

Eastern Platinum Limited will host a telephone conference call on March 31, 2010 at 10:00am Pacific (1:00pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Wednesday April 7, 2010 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number (#) sign.

Total shares issued and outstanding - 681,313,264

Cautionary Statement on Forward-Looking Information

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

S&P TSX Composite Index

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

Contact:
Ian RozierEastern Platinum LimitedPresident & C.E.O.+1-604-685-6851+1-604-685-6493 (FAX)info@eastplats.comhttp://www.eastplats.com/

Is Platinum Overvalued?

http://www.24hgold.com/english/news-gold-silver-is-platinum-overvalued-.aspx?article=2607728748G10020&redirect=false&contributor=Trace+Mayer&ref=&mk=1

Eastplats Reports Record Production for the Quarter Ended December 31, 2009

Press Release Source: Eastern Platinum Limited On Thursday January 14, 2010, 8:27 am EST

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 14, 2010) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report record production from the Crocodile River Mine ("CRM") for the fourth quarter ended December 31, 2009.

The Company produced a quarterly record of 34,000 PGM ounces, up 13% compared to the quarter ended September 30, 2009 and up 17% compared to the fourth quarter of 2008. For the year ended December 31, 2009, the Company produced a total of 130,338 PGM ounces, up 11% compared to 117,909 PGM ounces in 2008.

Production statistics for the current quarter and historical quarters are as follows:

[continued in following link]

http://finance.yahoo.com/news/Eastplats-Reports-Record-ccn-699488728.html?x=0&.v=1

Eastplats Proceeds With Development of Crocette

Press Release Source: Eastern Platinum Limited

On Tuesday January 12, 2010, 8:15 am EST

http://finance.yahoo.com/news/Eastplats-Proceeds-With-ccn-101291391.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 12, 2010) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to announce the reactivation of mine development at the Crocette Section of the Crocodile River Mine ("CRM"). The Crocette Project offers attractive economics as a result of recent increases in PGM prices combined with the meaningful reductions in operating costs which have been achieved at CRM.

Orebody access at Crocette was initiated in 2008 from two portals which will be reopened and developed to the UG2 reef. At full production the Crocette Section is anticipated to deliver up to 40,000 tons of ore per month (anticipated 50,000 opa PGM). This will enable CRM to reach its full production target of 175,000 tpm (approx. 200,000 opa), in line with Eastplats' anticipated growth profile for the mine. This target does not include any potential production from the Kareespruit Section at CRM.

In a news release dated November 7th, 2008 the Company reported that the development of Crocette was to be put on 'care and maintenance' in response to adverse market conditions while the Company took measures to increase production from the Zandfontein and Maroelabult sections at CRM. These measures, which have been successfully completed, include:

a. The reequipping and recommissioning of the Number One shaft at Zandfontein to open up new areas for mining has reduced the cost of moving mine workers, materials, ore and waste.

b. The upgrading and extension of the main ore conveyor at Maroelabult has resulted in improved efficiencies and more reliable operations.

c. The successful optimization of the chrome recovery circuit in the concentrator has produced more profitable chrome products and reduced chrome penalties in the PGM concentrate. d. Ongoing underground development at Zandfontein and Maroelabult to ensure future mill feed tonnages.

These measures, as well as ongoing mine design and operating improvements, have enabled the Company to continue as a low cost producer, conserve cash and increase production throughout 2009.

Crocette is one of the few remaining undeveloped near-surface PGM projects on the western limb of the Bushveld Complex that has immediate access to a processing facility. Infill drilling has confirmed the continuity of the UG2 at Crocette to a depth of 600m with a dip of 18 degrees, a reef width of 1.2m and an estimated head grade of 4.1g/t (5PGE+Au). Open pit mining at Crocette is not an option as the near-surface reef is highly oxidized which would result in poor metal recoveries; this is a common feature of outcropping PGM reefs throughout the Bushveld Complex. The New Order Mining Right for Crocette was granted in March 2008 (see news release dated April 2, 2008).

A commitment to provide construction power for the project has been received from Eskom but alternative guaranteed supplies are also being evaluated by Eastplats.

Design work for the Spitzkop mine and concentrator continued in 2009 and an updated cost estimate and schedule for the project is expected to be completed in the first half of 2010.

"The re-start of Crocette marks another era of expansion for CRM and Eastplats' operations and reflects our confidence in the PGM markets and in our ability to operate profitably at current metal prices and at current exchange rates. We look forward to further increases in production levels to offset current fixed costs on the mine with no significant capital inputs other than for the underground mine development. The re-start of mine development at Crocette represents just one phase of future development plans for Eastplats production growth," stated Ian Rozier.

The qualified person having prepared the contents of this news release is Mr. Brian Montpellier, P.Eng.

Total shares issued and outstanding: 680,946,625

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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

Contact:
Investor RelationsEastern Platinum Limited1-(604)-685-68511-(604)-685-6493 (FAX)info@eastplats.comhttp://www.eastplats.com/

Following the smart money

http://www.mineweb.co.za/mineweb/view/mineweb/en/page67?oid=93983&sn=Detail

The normal suspects are in good demand, but bargain hunters are now also snapping up oversold subsectors such as platinum and potash.

Author: Barry Sergeant
Posted: Friday , 04 Dec 2009

Platinum set to cross $1,550/ounce

http://www.commodityonline.com/news/Platinum-set-to-cross-$1550ounce-23268-3-1.html

2009-11-25 16:00:00

LONDON (Commodity Online): Platinum prices are witnessing another bull run and according to research firm Johnson Matthey, the metal may cross $1,550 per ounce by mid-2010, as compared with an average $1,178 so far this year.

The reason for this is a possible deficit in supply if automaking worldwide rebounds as much as expected, triggering increased catalytic converter production.

Johnson Matthey told miningweekly.com in Johannesburg that since there is relatively limited potential for supply to increase, you can expect the 2009 surplus to be eaten up pretty quickly.

Johnson Matthey’s precious metals marketing director, Mark Bedford, tells the news service that he expects global vehicle production, which was likely to fall to 57 million units this year, to increase in 2010, possibly to 65-million units.

That would be positive for sales of most platinum group metals, which all are used to make auto catalysts, and possibly boost palladium prices to a mid-year 2010 average of $390/oz. Palladium this year is averaging $254.

A Johnson Matthey report says North American net platinum demand is forecast to fall by more than 25% this year to 140,000 ounces as consumers’ disposable income had shrunk and retailers reduced jewelry-making stocks.
(Source: miningweekly.com)

Johnson Matthey bullish on platinum, palladium, sees deficits

http://www.miningweekly.com/article/platinum-palladium-outlook-bullish-deficits-on-way-johnson-matthey-2009-11-17

By: Martin Creamer
17th November 2009

JOHANNESBURG (miningweekly.com) – Platinum researcher Johnson Matthey on Tuesday presented a bullish outlook for both platinum and palladium and spoke of deficits being on the way in both metals.

Johnson Matthey precious metals marketing director Mark Bedford told Mining Weekly Online that both the autocatalyst and industrial markets were poised to improve in 2010 and forecast a platinum price of from $1 280/oz and $1 550/oz for the next six months.

He conceded that the company's $390/oz palladium price forecast was already close to the point of being overtaken.

Johnson Matthey principal marketing analyst Alison Cowley added that, although there was a potential for supply to increase, that potential was relatively limited.

"It's reasonable to say that, going into 2010, we would certainly expect the surplus to be eaten up pretty quickly, and I think we might well see a platinum market that's in deficit next year," Cowley told Mining Weekly Online.

Bedford said that there was a great deal of investor sentiment in favour of palladium, because of the expectation that Russian State stocks would diminish to a minimum in the next two to five years.

"When that happens, it looks like the palladium market is going to be in fundamental deficit and, for that reason, many people are very bullish about palladium," he told Mining Weekly Online.

On possible supply-side surprises on the upside, Cowley told Mining Weekly Online: "In the short term, you tend not to get upside supply surprises, because the lead time for new projects coming into production is typically very long."

Bedford expected global vehicle production – which was likely to fall to 57-million units this year – to increase in 2010, possibly to 65-million units, which would be positive for platinum-group metals (PGMs) demand.

"On the balance of probabilities, we will be looking at a modest platinum deficit in 2010, given what we can see on the supply side and the demand side. Besides more autocat demand, we can see some of the industrial demand coming back as well," Bedford told Mining Weekly Online.

This year's industrial demand was down by almost as much as auto demand, partly owing to the recession, but also because of market cyclicality.

"We can see some of that cyclical demand coming back as well. We have put our bottom platinum price forecast at $1 280/oz and top forecast at $1 550/oz for the next six months," he told Mining Weekly Online.

On Johnson Matthey's $390/oz palladium price forecast already being over taken by events, Bedford said: "That's the hazard of setting a price forecast three weeks ago."

Johnson Matthey set a price range of from $290/oz to $390/oz for palladium, which was already rising beyond $370/oz while Johnson Matthey was in the process of delivering its Platinum 2009 Interim Review globally to media and analysts.

"That suggests to us that we were right to be bullish three weeks ago, but things have moved even faster than we expected," Bedford conceded.

On the prospect of Russian stocks depleting, he said: "When that happens, it looks like the palladium market is going to be in fundamental deficit and, for that reason, many people are very bullish about palladium.

"On the other hand, there are a lot of people who just still regard palladium as being cheap. It was $1 000/oz once, and it could be $1 000/oz again, and I still believe that there are some investors who take that view," he added.

On supply prospects, Cowley said that there was potential for pipeline metal supplies to increase in the next six months, given that platinum miners Lonmin and Anglo Platinum had pipeline stocks of metal that were above historically normal levels.

"There are also a number of new mines that are ramping up to full production. For example, there is the Blue Ridge mine, which has been taken over by Aquarius. There is Platmin's Pilanesberg mine, and there is Platinum Australia's Smokey Hills mine.

"It's fair to say that the industry still faces a very tough task in bringing costs under control and reducing costs. This year, we have seen wage increases that have typically run above 10%.

"The industry is facing increases in electricity prices and, although some of the other input prices have come down, I think it's still going to be very tough to bring costs down, although having said that, some of the mines have done a good job so far in 2009 of bringing down unit costs, which is positive for the industry going forward. But there's a lot more work that needs to be done on that aspect, " she added.

"If you look into the immediate future, demand in the major industrial areas has been very depressed this year. Although we are not expecting a rapid recovery, we are certainly expecting to see some increasing demand next year," Cowley said.

2009 FORECAST

Johnson Matthey said that the platinum market was poised to move into a small surplus of 140 000 oz in 2009.

While the amount of ore mined and the weight of platinum produced in concentrate were set to fall this year, changes in pipeline stocks in South Africa and the sale of some additional refined metal meant that the amount of platinum supplied to the market would actually increase very slightly.

By contrast, the overall net 2009 demand for platinum was set to decrease by 4,4%.

The slowdown of the automotive industry would be the major negative change, with gross demand falling by around one third and industrial demand also decreasing.

The fall in the platinum price had, however, resulted in a very positive jewellery demand, which was expected to rise 80% in 2009, with physical investment demand also up by 15%.

Although the platinum price remained some distance below the first half of 2008, it had risen substantially from the low point reached at the end of the last year, supply rising from 4,945-million ounces in 2008 to 6,055-million ounces in 2009 and demand was expected to decline from 6,185-million ounces in 2008 to 5,915-million ounces in 2009.

Overall, the platinum market was expected to move from a deficit of 240 000 oz in 2008 to a small surplus of 140 000 oz in 2009.

JEWELLERY

Johnson Matthey said that global net jewellery demand for platinum was set to climb to 2,45-million ounces in 2009, despite net European and North American jewellery demand falling.

In Japan, lower prices had, however, reduced recycling flows, which would cause net demand to climb.

In China, the metal price had continued to encourage demand from the jewellery sector, which should leap to a record level of 1,75-million ounces in 2009, owing to strong consumer purchasing and hefty restocking throughout the industry.

CHINA

The lower price of platinum compared with the first half of 2008 has had a hugely positive effect on net Chinese jewellery demand, which was expected to rise to a record 1,75-million ounces this year.

Lower prices provided retailers and wholesalers with the opportunity to replenish and expand stocks, increasing platinum's share of counter space where it replaced white gold jewellery.

Attractive profit margins also encouraged new retailers and new manufacturers into this sector.

"This widespread restocking drove a dizzying increase in demand in the first half of 2009 in particular," the company said.

Continued economic growth and a fall in the retail price of platinum jewellery also boosted the weight of platinum sold to consumers. Together, these trends increased net platinum demand in the first half of 2009 to over one million ounces in China alone.

Although the platinum price had risen since the start of 2009, retail prices remained some way below the levels of late 2008, suggesting that consumer purchasing should stay close to its current elevated level. However, with restocking essentially completed, net demand for the second half of the year was expected to be closer to 700 000 oz.

EUROPE

Purchases of platinum by the European jewellery and watch industries were forecast to decrease by 15 000 oz to an estimated 185 000 oz this year. The European luxury jewellery manufacturers had struggled with the effects of the financial crisis and demand would fall as a result.

However, robust bridal market platinum demand was likely to be steady year-on-year. Platinum use in the Swiss watch industry would drop owing to lower watch production and careful stock control by manufacturers and retailers.

JAPAN

Net Japanese platinum jewellery demand was expected to climb by 255 000 oz to 310 000 oz in 2009.

The lower metal price has reduced the incentive for consumers to cash in second-hand jewellery and the rate of recycling of jewellery scrap would thus fall sharply. Gross demand rose by 10 000 oz to 540 000 oz as retailers saw improved sales of platinum jewellery. Production of platinum chain for sale in Japan and for export to China also increased.

NORTH AMERICA

The jewellery market in North America had struggled in worsening economic conditions. Net platinum demand was forecast to fall by more than one quarter this year to 140 000 oz as consumers' disposable income had shrunk and retailers reduced working stocks.

JEWELLERY OUTLOOK

Johnson Matthey said that platinum demand from the jewellery industry was likely to soften somewhat in 2010.

The very strong levels of platinum demand in China since the last quarter of 2008 had been partly due to a high degree of stock building, which was unlikely to be repeated in 2010.

However, unless the retail price of platinum jewellery rose sharply, any decrease in consumer purchasing or any increase in the use of recycled metal should be limited.

With the price of platinum well off the peak levels of 2008, an upturn in the world economy in 2010 was likely to lead to a slight increase in demand in other markets.

PALLADIUM JEWELLERY

Net jewellery-sector demand for palladium was expected to climb to a global total of 920 000 oz in 2009.

The economic slowdown had helped palladium gain a share of the market for men's wedding bands in North America while the approval of a palladium hallmark in the UK should boost European demand.

In China, manufacturing volumes would change little but a fall in the recycling of old jewellery stock meant that net demand was set to rise.

Net Chinese palladium jewellery demand was expected to rise from 650 000 oz in 2008 to 680 000 oz this year.

Although some manufacturers had abandoned palladium production in order to take advantage of the higher margins offered by platinum jewellery, others had captured this market share and overall production volumes would be little different from 2008 levels.

The recycling of palladium jewellery was expected to fall by 40 000 oz as little old stock remained and that decline meant that net palladium demand should climb by 30 000 oz.



Edited by: Creamer Media Reporter

Eastern Platinum Reports Results for the Three Months Ended
September 30, 2009

Press Release
Source: Eastern Platinum Limited

On 9:20 am EST, Thursday November 12, 2009

http://finance.yahoo.com/news/Eastern-Platinum-Reports-ccn-3755761286.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 12, 2009) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited (TSX:ELR - News; AIM:ELR)(JSE:EPS) ("Eastplats") is pleased to report financial results for the three months ended September 30, 2009.

Highlights for the quarter ended September 30, 2009 ("Q3 2009")

- The Crocodile River Mine ("CRM") reached two million fatality-free shifts in September.

- The Company's Lost Time Injury Frequency Rate (LTIFR) was 1.69 this quarter compared to 3.02 in the third quarter of 2008 ("Q3 2008").

- Eastplats recorded a net profit attributable to equity shareholders of the Company of $1,839,000 ($0.00 per share) compared to a net loss attributable to equity shareholders of $10,829,000 ($0.02 loss per share) in Q3 2008.

- Production at CRM was 29,986 PGM ounces compared to 30,758 PGM ounces in Q3 2008, despite the industrial action by contract mining company's workers in July.

- EBITDA was $4,971,000 compared to negative EBITDA of $11,405,000 in Q3 2008.

- The average delivered basket price per PGM ounce was $765, a decrease of 36% compared to $1,193 in Q3 2008.

- Operating cash costs net of by-product credits were $583 per ounce, a 12% increase from $521 per ounce achieved in Q3 2008 as a result of the industrial action in July. Operating cash costs were $758 per ounce, an increase of 13% compared to $672 per ounce in Q3 2008.

- Rand operating cash costs net of by-product credits were R4,548 per ounce, an increase of 12% compared to R4,055 per ounce in Q3 2008. Rand operating cash costs were R5,915 per ounce, an increase of 13% compared to R5,233 per ounce in Q3 2008.

- Head grade increased to 4.1 grams per tonne in Q3 2009 from 4.0 grams per tonne in Q3 2008, and average concentrator recovery remained unchanged at 78%.

- Development meters decreased by 49% to 2,882 meters and on-reef development decreased by 56% to 1,562 meters compared to Q3 2008, partly due to the industrial action in July, and partly due to the planned reduction in reserve development that was initiated in November 2008.

- Stoping units decreased by 9% to 36,263 square meters and run-of-mine ore hoisted decreased by 23% to 244,959 tonnes compared to the same quarter in 2008 as a result of the industrial action in July.

- Run-of-mine ore processed decreased by 8% to 280,777 tonnes in Q3 2009 from 305,490 tonnes in Q3 2008, also as a result of the industrial action in July.

- At September 30, 2009, the Company had a cash position (including cash, cash equivalents and short term investments) of $22,906,000, compared to $21,920,000 at June 30, 2009.

Underground mining activities and production were significantly interrupted during the quarter as a result of the illegal industrial action in July. Development meters, on-reef development meters, and stoping units decreased by 33%, 45% and 29% respectively compared to the quarter ended June 30, 2009 ("Q2 2009"). However, the decrease in run-of-mine ore processed was limited to 8% and the decrease in PGM ounces sold was limited to 10% due to the processing of 35,000 tonnes of surface ore stockpiles which had accumulated as at June 30, 2009.

The decrease in production ounces and production efficiencies led to a 37% increase in operating cash costs per ounce from $554 per ounce in Q2 2009 to $758 per ounce in Q3 2009. Other factors contributing to this increase was a 10% rise in wages effective July 1, 2009 and a 30% rise in electricity costs. An 8% weakening of the U.S. dollar from R8.44:$1.00 in Q2 2009 to R7.80:$1.00 in Q3 2009 also contributed to the increase in operating cash costs, which are incurred primarily in Rand.

Revenues were 10% higher compared to Q2 2009 as a result of a 13% rise in the average delivered basket price per PGM ounce, which also contributed to positive provisional price adjustments for the current quarter, and an increase in chrome production and sales.

"We are pleased to report three consecutive quarters of profit in 2009 during what has been a very difficult period for the sector that has seen the global economic downturn, exchange rate and metal price volatility, and an industrial strike action at CRM and throughout South Africa. We will continue to focus on safety and on lowering our cost structure at CRM and we are moving forward on our other projects such that they will be 'ready to go' as economic conditions continue to improve," said Ian Rozier.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Financial Information

For complete details of financial results, please refer to the unaudited condensed consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2009. These financial statements and MD&A, and the comparative financial statements for the three and nine months ended September 30, 2008 are all available on SEDAR at www.sedar.com and on the Company's website www.eastplats.com.

Teleconference call details

Eastplats will host a telephone conference call on Thursday, November 12, 2009 at 11:00 am Pacific (2:00 pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Thursday, November 19, 2009 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#).

Total shares issued and outstanding - 680,570,958

Cautionary Statement on Forward-Looking Information

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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

Contact:
Ian RozierEastern Platinum LimitedPresident & C.E.O.+1-604-685-6851+1-604-685-6493 (FAX)info@eastplats.comwww.eastplats.com

Platinum can touch $1,400/oz only if gold zooms

2009-10-29 14:25:00

LONDON (Commodity Online): Is the precious metal--platinum--running out of steam? Is it wise investing in platinum, as it has now been reported that platinum is the hottest precious metal that Chinese are buying these days. But not everyone is upbeat on platinum as an investment. Here is an investment analysis on platinum from Fortis Metals Monthly.

Platinum reached $1,371/oz on the London PM fix of 20th October, its strongest fix since September 2008. Yet despite a spurt higher on the 20th, the real price rally happened in early September, when it rose from just above $1,200/oz to $1,339/oz by the 16th.

Since then it has found it tougher going, rising just 2%, smaller than gold, silver or palladium. Investors continue to add to their ETF positions, although nowhere near as rapidly as in palladium. The UK ETFS ETF saw its holdings rise from 330,007 oz at the start of September to 377,424 oz by 16th October. The Swiss ETF also gained, adding about 12,000 oz over the same period to stand at 204,893 oz.

The demand situation is hard to call. One positive was that European car sales, the major market for platinum, didn't fall off a cliff in September, despite some incentives expiring at end August, including the all-important German scheme. German sales were 316,000, 21% higher year-on-year (compared with 28% higher in July and 40% at the peak in March/April).

Less positive is the continuing fallback in diesel sales from their peak of 53.6% in 2007. In August (latest available data) they accounted for just 42.2% of the EU15 market, down from 45% in July and 51.9% in January. It's too soon to say this is a definite long-term trend, as the European market has been skewed by incentive scheme's and the largest, Germany, has seen the most dramatic decline for diesel, with just 28.5% in August, compared with 44.1% in 2008.

Chinese platinum imports remain strong, with 4.4t of unwrought platinum imports in August, up from 3.6t in July and the highest unwrought figure since October 2008. In addition, 2t of semi-manufactured platinum was imported, up from 1.3t in July. Imports into Hong Kong, however, have tailed off, with 2.6t in July compared with 2.8t in June and between 4.7t and 6.4t a month in the first five months of the year.

Platinum Outlook
Platinum will probably find it difficult to make further gains towards $1,400/oz without more signs of ongoing supply problems. But if gold continues to push higher then it too will creep higher and the potential for a US ETF launch should help. Short-term London fix: $1,300/oz-$1,420/oz.

Some Platinum News

Oct 9th: The index of South African platinum and palladium production was 125.5 in August, down from 140.9 in August 2008, a fall of 11%.

Oct 8th: Northam Platinum announced a downsizing of its Booysendal project. Expected production would now be 245,000 oz of PGMs when fully operable, down from an original 430,000 oz. The reduction has decreased the cost from Rand 8bn ($1.3bn) to Rand 6bn. Full production is expected by 2015.

Sept 28th: Impala Platinum's production in fiscal year July 2009 - June 2010 could fall to 850,000 oz, from previous expectations of 950,000z.

Platinum, palladium prices set for big gains

2009-10-15 10:05:00

LONDON (Commodity Online): Precious metals rallied this morning mainly on the back of the much weaker dollar. The dollar is much weaker; commodity prices are much higher. It remains “a dollar game”. We still expect a dollar against the euro at $1.58-$1.60 in Q1:2010.Risk appetite is decent today. The VIX index declined late yesterday afternoon, US Treasuries are losing ground, and Asian and European equities are trading higher.

The futures market is signalling upside for US equities today. EM currencies are also stronger against the dollar. On top of this, China has reported surprisingly bullish copper import figures, which could encourage bullish sentiment on strong commodity demand from China and Asia.

In the US, we would be looking at Advanced Retail Sales for September. Following the recent trend, if the figure comes in above 0.2% m/m, the dollar could see more weakness as risk appetite improves. The odds might favor exactly this. With the positive Q3 earnings by Intel yesterday, there could be some indications that retail sales in the US are still growing.

We expect gold to find some resistance at the current price levels. However, we also still favour buying gold on dips. We see support for gold at $1,054 and $1,044, with resistance at $1,070 and $1,078.

While platinum and palladium are giving up some gains after weaker than expected Eurozone industrial production, support remains in place for a move higher. Key will be tomorrow’s Eurozone new car registrations for September. Looking at recent consumer spending data from the Eurozone (which has been mostly in line or above expectations), car registrations might also surprise on the upside.

Silver is trading just below $18.00. Given the good copper import figure from China, silver could also find additional support. We see resistance at $18.00 and $18.30, and support at $17.50 and $17.30.

Courtesy: Commodities Research, Standard Bank

Eastern Platinum sees Q3 pgm production slide at CRM 8th October 2009

Source: Eastplats Reports Operating Results For The Quarter Ended September 30, 2009 (07/10/09)

Eastern Platinum revealed yesterday (7th October) that pgm production at its flagship Crocodile River Mine (CRM) fell by ten per cent during the third quarter of 2009.



In the three months to 30th September, output at the South African site was 29,874 oz, in comparison with the figure of 33,383 oz recorded in the previous quarter.

The company attributes the decline - which also represents a three per cent year-on-year fall - to the dismissal of mining contractors whose employees were involved in illegal strikes at CRM in July.

"After a disruptive period in July and early August at CRM, we have recovered extremely well," said Chief Executive Ian Rozier.

"The extensive on and off-reef development carried out during the last year [has] positioned the mine well for both the short-term production ramp up back to Q2 levels and for the ongoing production build-up at the mine."

Eastern Platinum revealed that the strikes - which saw a limited number of companies approached to provide replacement workers - also impacted concentrator recovery levels.

The figure of 78 per cent garnered from the run-of-mine circuit represented a slight downturn from the 80 per cent total achieved during the preceding three months.

However, full production has now resumed and the company also welcomed the first full quarter of output from its pgm and chromite tailings remining section.

Eastern Platinum is a Canadian firm that was formed in 2003 and has since acquired interests with combined pgm resources of over 85 million ounces.

Platinum Climbs to Two-Week High on Relative Cheapness to Gold

By Glenys Sim

Oct. 7 (Bloomberg) -- Platinum climbed to a two-week high in Asia after the metal traded at its lowest level in a month relative to gold, prompting investors to buy the white metal and sell the yellow one.

Platinum traded at 1.2614 times the price of gold yesterday, the lowest ratio since Sept. 2. The ratio, which averaged 1.78 times last year and peaked at 2.382 times, reached a high of 1.3923 in May this year, according to Bloomberg calculations.

The relative small price difference between the two metals “is helping to support” platinum prices, said Jonathan Barratt, managing director at Commodity Broking Services Pty in Sydney. “I would expect some follow-through on platinum group metals in the next 24 hours.”

Platinum for immediate delivery rose as much as 1.9 percent to $1,339 an ounce, the highest price since Sept. 23, and last traded at $1,337 at 2:36 p.m. in Singapore. Gold fell as much as 0.5 percent today, after reaching a record $1,043.78 an ounce yesterday.

“It is not racing ahead,” said Barratt, referring to platinum. “It is still under priced.”

Palladium gained as much as 2.3 percent to $315 an ounce, the highest since Aug. 14, 2008, as the dollar weakened and equities rose. It traded at $314.50 at 2:43 p.m. in Singapore.

Asian stocks today extended a global rally on speculation third-quarter earnings will top estimates and growing optimism the global economy is recovering.

A “riskier” market like palladium would gain as appetite for higher-risk investments improves, according to Credit Suisse Group analyst Stefan Graber. “The break of the $300 mark spurred further buying,” he said.

To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net

Last Updated: October 7, 2009 03:30 EDT

Eastplats Reports Operating Results for the Quarter Ended

September 30, 2009

Press Release
Source: Eastern Platinum Limited

On 8:40 am EDT, Wednesday October 7, 2009

http://finance.yahoo.com/news/Eastplats-Reports-Operating-ccn-4071102710.html?x=0&.v=1

Platinum may emerge hotter than gold, silver

2009-09-22 11:00:00

By Jessica Mead

With gold’s sudden surge stealing both the headlines and the market’s attention, it is very easy to forget that there are markets in other precious metals. For spread betters looking to move beyond the realms of gold to something altogether rarer and more unique, platinum currently offers a wealth of opportunities.

One of the scarcest precious metals on the planet it is estimated that new mine production is only about 210 tonnes per year. The price of platinum has suffered during the financial crisis because of the global reduction in manufacturing and investors’ lack of enthusiasm for metals.

Back in May 2008, an ounce of platinum would have set you back more than $2,200. Today it is trading at near one-year highs of $1,330, having dropped as low as $732.50 on 28 October 2008 as investors moved out of risky commodities towards perceived safe havens such as gold and US Treasuries.

And last week, the chief financial officer of Stillwater Mining, North America’s largest platinum group metals producer, told Reuters in an interview that the worst was over for platinum and that the price has now bottomed out and should rise significantly over the next two to three years as economic recovery boosts investor demand.

Although demand currently remains depressed for the precious metal, its industrial uses in the automotive industry and in electrical components mean that there is likely to be a demand-led recovery in the price of platinum as the fragile global manufacturing sector starts to exit recession.

Platinum is most commonly used by the automotive industry in catalytic converters, which help clean exhaust fumes. Admittedly, the last 12 months have seen car manufacturers suffer and in the case of General Motors even file for bankruptcy, which has had a subsequent negative impact on the price of platinum.

But in the near-term, government stimulus programmes encouraging consumers to replace their old cars will give the auto industry and its platinum suppliers a much-needed boost. Equally, mid-income developing countries such as China and India are expecting demand for private vehicles to surge as the population becomes wealthier.

Furthermore, with the future expected to be a much greener one and legislation on the way to reduce cars’ carbon emissions, the need for catalytic converters is only going to grow and platinum demand is unlikely to falter.

Also boosting the precious metal is the current weakness in the US dollar, which is making dollar-denominated assets very attractive to foreign buyers.
DOLLAR WEAKNESS
Joshua Raymond, market strategist at City Index, says: “The US Dollar index has recently bounced from support at 76 and as a result investors were quick to cash in their profits in platinum and other metals last Friday. Dollar weakness will need to continue if platinum prices are likely to reach more upside from these levels.”

However, he warns that prices also remain at risk from bouts of profit-taking, having risen over 80 per cent in the last 11 months and recently reached new one-year highs.

Platinum is a notoriously volatile commodity and continued doubts about the recovery in the manufacturing sector could see its price quickly slip back down.

Spread betters looking to go long on the precious metal as a play on its relative scarcity and on the economic recovery will find platinum spread bets available with all the major providers, with the futures contract on the New York Mercantile Exchange (NYMEX) as the underlying contract for the spread bet.

IG Index is offering contracts on the two nearest quarters – October 2009 and January 2010 with a spread of three basis points and a minimum bet of £10. Trading is almost 24 hours – with a 45 minute break between 10.15 and 11pm GMT. This is good news if you are a part-time spread better trading only in the evenings. GFT offers much the same, also with a spread of three basis points and a margin requirement of 5 per cent.

But remember that all of these spread bets are based on futures contracts, so they will expire every quarter. Normally, your spread betting provider will roll your position into the next quarter’s contract, but the price can see some movement and volatility ahead of expiry – something to both take advantage of and be aware of at the same time.

Gold might be the commodity hitting the headlines at the moment, but other precious metals have plenty of shine, too.

Courtesy: www.cityam.com

http://www.commodityonline.com/news/Platinum-may-emerge-hotter-than-gold-silver-21324-2-1.html

Car sales halted, platinum future uncertain

2009-09-02 15:50:00

NEW YORK (Commodity Online): When car sales plumetted it affected several industries across the globe. One of them was the metals market. Among them platinum, which is used in making exhausts for the cars, has been hit hard by the slump in car sales.

Global car sales, especially in the US, had hit by the recession and companies like General Motors had applied for bankruptcy, which has affected several platinum and palladium producers.

And this lack of demand for vehicle catalyst material platinum could push the market into surplus this year even with the prospect of supply disruption from strike-hit mines in the South Africa.

Even though there were fears that the platinum production in South African mines will be hit, the prices refused to go up because the demand from the auto sector was down and the market feared that the metal will be surplus in supply in the market.

Platinum is also used in jewellery making but the demand for the platinum jewellery is limited in certain countries like Japan and China.

According to market watchers, rising stocks of the metal and weak car production were likely to keep prices in check unless industrial action proves persistent.

Net flows of platinum into Zurich — total imports minus total exports — from January to July this year amounted to almost 765000oz .

The platinum market had a deficit of 375000oz last year. But sharply lower demand from car makers was likely to have caused platinum stockpiles to rise this year.

With demand from car makers making up about half of global platinum consumption last year, the performance of the sector is vital for platinum. The favourable price of platinum sponge — primarily used by industrial buyers, whereas investors and jewellers usually buy platinum ingot — suggests industrial demand is still weak.

Prices have been supported by resurgent jewellery demand this year, especially from China, but this is unlikely to offset entirely falling demand from the vehicle sector.

The car industry suffered heavily from the economic downturn last year, with US car makers GM and Chrysler both filing for bankruptcy and Japan’s Toyota heading for a record loss this year.

Last week rumours were rife that Toyota could cut production by as many as 700000 cars, or 7% of global capacity.

The car industry has received some support this year from various cash for clunkers car scrappage schemes in the US, under which consumers are offered financial incentives to scrap old cars and replace them with new models.

http://www.commodityonline.com/news/Car-sales-halted-platinum-future-uncertain-20850-3-1.html

Platinum is in short supply

2009-08-21 15:00:00

Leading market analysts feel that global platinum supplies fell heavily to 5.97-million ounces and net demand for platinum decreased by 5%, to 6.35- million ounces, as a number of sectors were affected by the economic slowdown.

Supply disruptions drove the price to a record $2,276/oz in March 2008 before investor sales forced it sharply down later in the year, to a low of $756/oz in October 2008.

Global supplies of platinum decreased by 9.5%, in 2008, to 5.97-million ounces.

South African sales of platinum decreased to 4.53-million ounces, driven lower by a combination of bad weather, geological issues, safety closures, smelter problems and a shortage of skilled staff.

Russian platinum supplies fell to 820,000 oz, while sales of metal from other producing nations were marginally up at 295 000 oz.

Gross autocatalyst demand for platinum fell by 8.2%, to 3.81-million ounces, in 2008.

European auto makers bought less platinum for use in catalytic converters than they bought in 2007 owing to lower light-duty vehicle production, despite the greater use of platinum-containing diesel particulate filters.

Platinum use in other regions fell, reflecting lower vehicle output and continuing efforts to replace any remaining platinum in gasoline catalyst formulations with palladium.

Net physical investment demand for platinum grew strongly, from 170,000 oz, in 2007, to 425,000 oz, in 2008.

Purchasing of the metal through exchange-traded funds (ETFs) was volatile, with heavy buying in early 2008 and heavy selling later in the year.

The fall in the platinum price in the final months of the year was met by strong buying interest from Japanese investors, which accounted for the year-on-year increase.

Jewellery demand, net of recycling, declined by 6.2%, to 1.37-million ounces, in 2008. Manufacturing volumes and retail sales were depressed by the high metal prices in the first half of the year in every region, but recovered later in China and Japan once the platinum price declined. Recycling volumes were very large in Asia earlier in the year, but decreased sharply in response to the price change.

Demand for platinum for industrial applications fell by 4.9%, to 1.76-million ounces, in 2008. The buying of the metal fell in the chemicals and electrical sectors as the global economy slowed in the second half of the year, but more metal was bought by the petroleum refining industry. The glass sector demand fell owing to the closure of a number of conventional television glass factories.

http://www.commodityonline.com/news/Platinum-is-in-short-supply-20557-3-1.html

Facts you may not have known about platinum

All the platinum ever mined from the beginning of time would fit into a typical living room.

Around two tonnes of ore has to be mined to obtain enough platinum to make a ring.

Platinum's melting point is almost double that of gold.

Platinum is used in the hard discs of most PC's to improve capacity and durability.

Platinum is resistant to attack from most chemicals.

The only material suitable for the electrode in heart pacemakers is platinum.

Platinum is used to make nitrogen fertilisers.

1 gram of platinum can be made into wire 2 kilometres long.

One third of the platinum mined in the world in 2005 was made into jewellery.

There is no platinum in a platinum record; it's only plastic dipped in silver.

Eastern Platinum Reports Results for the Three Months Ended June 30, 2009

Press Release
Source: Eastern Platinum Limited

On Thursday August 13, 2009, 8:35 am EDT

http://finance.yahoo.com/news/Eastern-Platinum-Reports-ccn-3980791477.html?x=0&.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 13, 2009) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report financial results for the three months ended June 30, 2009.

Highlights for the quarter ended June 30, 2009 ("Q2 2009")

- The mine's safety record continues to compare favourably with other platinum producers in South Africa, with a Lost Time Injury Frequency Rate (LTIFR) of 1.94 this quarter compared to 1.85 in Q2 2008.

- Eastplats recorded a net profit attributable to equity shareholders of the Company of $317,000 ($0.00 per share) compared to a net profit attributable to equity shareholders of $12,148,000 ($0.02 per share) in the second quarter of 2008 ("Q2 2008").

- EBITDA was $6,529,000 compared to $28,259,000 in Q2 2008 and $7,018,000 in the first quarter of 2009.

- Production at the Crocodile River Mine ("CRM") increased by 10% to 33,383 PGM ounces, from 30,311 PGM ounces in Q2 2008.

- The average delivered basket price per PGM ounce was $679, a decrease of 59% compared to $1,657 in Q2 2008, but an increase of 15% compared to $590 in the first quarter of 2009.

- Operating cash costs were $554 per ounce, a decrease of 20% compared to the $696 per ounce achieved in Q2 2008.

- Operating cash costs net of by-product credits decreased by 29% from $696 per ounce in Q2 2008 to $494 per ounce this quarter.

- Rand operating cash costs per ounce have decreased by 25% since the fourth quarter of 2008 reflecting the success of the Company's operating cost cutting measures which had been implemented since December 2008. Rand operating cash costs per ounce decreased from R6,231 per ounce in the fourth quarter of 2008 to R5,326 per ounce in the first quarter of 2009, and to R4,673 per ounce in Q2 2009.

- The integration of the chrome recovery plant in 2008 continues to be a significant factor in cost reduction. Chrome penalties decreased by 76% from $2,631,000 in Q2 2008 to $621,000 this quarter.

- Average recovery rates for the quarter improved to 80%, compared to 73% in Q2 2008.

- Head grade increased to 4.2 grams per tonne this quarter compared to the 4.0 g/t that had been consistently achieved in the previous five quarters.

- Stoping units increased by 16% and run-of-mine tonnes hoisted increased by 12% compared to the same quarter in 2008.

- Run-of-mine ore processed decreased by 3% to 304,354 tonnes in Q2 2009 from 313,767 tonnes in Q2 2008.

- At June 30, 2009, the Company had a cash position (including cash, cash equivalents and short term investments) of $21,910,000, compared to $21,966,000 at March 31, 2009.

"CRM is performing well and the second quarter results reflect the successful implementation of changes made to our mining plan at the start of the year. During a very volatile period of metal prices and exchange rates, we have achieved a good operating performance and have established ourselves as one of the lowest cost producers in the PGM sector. We will continue to focus on safety, on lowering our cost profile even further, and on preserving our cash balances. We are progressing with planning for our other projects so that we are ready to deliver when PGM prices improve," said Ian Rozier.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Financial Information

For complete details of financial results, please refer to the unaudited condensed consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the three months ended June 30, 2009. These financial statements and MD&A, and the comparative financial statements for the three months ended June 30, 2008 are all available on SEDAR at www.sedar.com and on the Company's website www.eastplats.com.

Teleconference call details

Eastplats will host a telephone conference call on Thursday, August 13, 2009 at 11:00 am Pacific (2:00 pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Thursday, August 20, 2009 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#).

Total shares issued and outstanding - 680,557,369

Cautionary Statement on Forward-Looking Information

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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

Contact:
Ian RozierEastern Platinum LimitedPresident & C.E.O.+1-604-685-6851+1-604-685-6493 (FAX)info@eastplats.comwww.eastplats.com

Eastplats Reports Record Production for the Quarter Ended June 30, 2009

Press Release

Source: Eastern Platinum Limited

On Thursday July 16, 2009, 8:58 am EDT

http://finance.yahoo.com/news/Eastplats-Reports-Record-ccn-3454709114.html?x=0&.v=1

Platinum set for bullish high: Goldman Sachs

2009-07-16 18:15:00 Print

All was steady and quiet on the Western front ahead of labor statistics being released this morning. Gold prices turned overnight losses of nearly $6 into only marginal declines this morning, while the US dollar continued to slip amid whopper earnings reports - such as those offered up by JPMorgan this morning. The firm's profit was up 36% for Q2 and it trounced analyst estimates. Tim Geithner trounced some estimates as well - those that still call for economic Armageddon - by stating that he sees some 'very encouraging' signs of amelioration in the global financial system, and in related confidence towards it.

Gold prices opened with hardly visible (50-cent) losses this morning, quoted at an even $939.00 per ounce, against a 0.20 point drop in the greenback's value on the trade-weighted index. Whilst oil prices gave back more than half a dollar and slipped to $61 per barrel, the decline was not seen as materially impacting the precious metal at this moment. A government energy adviser bluntly predicted a major collapse in crude oil for later this year - down to $20 per barrel, based on a huge surplus and once again vanishing, recession-impacted, demand. There is hardly a way that a two-thirds cave-in in oil would not affect gold values. Whenever such an implosion were to take place.

Profit-taking following yesterday's surge to just above $940 was seen as potentially more meaningful for the next two sessions, and some of these sales have begun to emerge even before yesterday's settlement came in. Some of what the trade does today will obviously be jobs numbers-driven, but the overall move we have had this week is not seen as the start of some new chapter for the yellow metal. There is still much lacking on the fabrication demand front, despite the latest weather news from India - indicating perhaps only a 20% rain deficit for the monsoon season as of now.

Jobless claims hit the wires a few moments ago, and they reveal the lowest initial claims figures since January - at 522,000 in the week ended July 11. Initial reaction in the precious metals complex was mildly to the downside. The numbers are seen as subject to adjustment and are not seen as remaining on track after further layoffs will hit the labor market after not having taken place at this time. Stock futures gained on the jobs news.

Silver opened at $13.22 and was off by 3 cents at the starting time of today's session. Platinum gained $4 to open at $1161.00 per ounce, and palladium rose $1 to $246.00 per ounce. A bullish-platinum forecast was offered up by Goldman Sachs, citing improved auto production heading into the home stretch of 2009 and renewed (although unnamed) production problems out of South Africa.

No specific price target was included for the January 2010 contract as far as we know. Point is, if one has an appetite for risk, and is cognizant of platinum's recent peak near $2300 per ounce, well, the current math might just become compelling - even if the metal tops out halfway between here and there. Or, put another way, who sees another $600 being added to the price of gold between today and early next year? We do not. Not as of today.

Also helping investors' rising appetite for risk were news from China that the country's economy grew at a 7.9% pace during Q2. Remaining doubts about the effectiveness of various stimuli are facing a tough time in lingering around. On the not-so-hot news front, US foreclosures rose by a significant 20% from one year ago levels. Basically, 1 in 84 US housing units of all kind were foreclosed upon in the first half of the current year.

Continued focus on the global economy, risk appetite and/or aversion, and keeping an eye on equity markets appear to be on the menu for precious metals players as we head into the final sessions of this week. Nice rally thus far - question is, how sustainable? The tea leaves are in the green shoots. Be that green tea, or black tea.

Jon Nadler is Senior Analyst, Kitco Metals Inc

Platinum Falls to 7-Week Low as Slower Recovery May Curb Demand

By Nicholas Larkin

July 8 (Bloomberg) -- Platinum fell to a seven-week low in London, heading for the longest losing streak since October, on concern a slower economic recovery will hurt demand. Gold was little changed after dropping to a two-week low.

The MSCI World Index of shares retreated for a fifth day on speculation that second-quarter earnings reports will show the first global recession since World War II is far from over. Crude oil slid for a sixth day, while the dollar traded near a two-week high against a basket of major currencies.

A slower economic recovery is “bad for the car industry, because there’s less demand for platinum-group metals,” Bernard Sin, head of currency and metals trading at Swiss refiner MKS Finance SA, said by phone from Geneva. “There was also some stop-loss selling” from Asia today, he said. Some investors sell commodities when prices fall below certain thresholds.

Platinum for immediate delivery dropped as much as 2.5 percent to $1,106 an ounce, the lowest since May 18. The metal traded at $1,114.50 at 11:55 a.m. in London. Platinum futures for October fell 1.4 percent to $1,120.50 on the New York Mercantile Exchange.

A weaker economy may cut demand for precious metals used more in industry. Automakers account for about 60 percent of platinum and palladium use, according to London-based metals researcher, refiner and trader Johnson Matthey Plc.

Stronger Dollar

Gold for immediate delivery in London fell as much as $5.68, or 0.6 percent, to $919 an ounce, the lowest since June 23. It last traded at $920.87. August gold futures lost 0.9 percent to $920.70 an ounce on the New York Mercantile Exchange’s Comex division.

The U.S. Dollar Index, a six-currency measure of the greenback’s value, gained as much as 0.3 percent, heading for the longest rally since April. Gold typically moves inversely to the U.S. currency.

“Gold is basically reacting to the stronger dollar,” Sin said. “The dollar is the key driver for gold right now.”

The metal fell to $920.75 in the morning “fixing” in London, used by some mining companies to sell production, from $924 at yesterday’s afternoon fixing. Spot prices are heading for a fifth weekly decline in six.

Oil futures slipped in New York today, heading for the longest losing streak since December, before a report forecast to show an increase in U.S. fuel inventories. Some investors use crude prices as an inflation guide.

Silver, Palladium

Investment in the SPDR Gold Trust, the biggest ETF backed by bullion, was unchanged at 1,120.19 metric tons yesterday, the company’s Web site showed.

Silver for immediate delivery in London fell as much as 1.1 percent to $12.985 an ounce, the lowest since May 4, and was last down 0.5 percent at $13.055. Palladium was 0.5 percent lower at $239.20 an ounce.

Palladium held in ETF Securities Ltd.’s exchange-traded commodities rose 2.3 percent to a record 329,068 ounces yesterday from 321,553 ounces the day before, according to the company’s Web site. Platinum holdings gained 1.5 percent to 328,522 ounces, and silver assets fell 2.6 percent to 18.57 million ounces.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

Last Updated: July 8, 2009 07:14 EDT

Investment on platinum metals to remain healthy

2009-07-01 15:00:00

NEW YORK: Commodities market research, consulting, asset management and investment-banking firm CPM has forecast that the three major platinum group metals (PGMs) are expected to remain as dynamic this year as they have been for the past 18 months.

Fundamentals for the platinum market seem to favor platinum prices as investment demand is forecast to remain healthy as mine supply is expected to remain a concern, the CPM Group said.

In their annual CPM Platinum Group Metals Yearbook 2009, CPM analysts suggested, “Many of the present concerns faced by the South African platinum industry are not expected to be resolved any time soon”.

“Many of the problems associated with mining in South Africa, such as power shortages, a shortfall of skilled labor, and safety related issues are expected to remain unresolved at least during the medium term.”

Fabrication demand, which comes mainly from the auto catalyst sector, is expected to rise as the world creeps out of the present recession, CPM said. Nevertheless, the analysts warned of an increased threat to platinum use in catalysts from the substitution by palladium.

Another recent threat for all three PGMs used in autocatalysts is the use of nanotechnology. However, only two automakers, Nissan and Mazda, are employing this technology on one car model each. Other automakers would have to weigh the costs of acquiring and adapting the technology against cost savings. CPM noted that the technology has no on-road performance track record, which could discourage other automakers.

Despite the decline of fabrication demand, CPM believes investor interest in the metal is expected to rise. Several factors have contributed to increased investor interest including: the growing interest in the investing community about commodities as an asset class; the introduction of exchanged traded funds; the safe haven attributes of platinum; and the expectation that platinum demand will rise when the global economy improves.

“In recent months, since the global economy began to deteriorate at a rapid pace, investors have been piling into platinum because of its safe haven attributes,” CPM said. “There also has been increased expectation among investors that the price of the metal will rise sharply when the auto sector begins to improve, making it a compelling investment at present prices which are relatively weak.”

Platinum output from the United States, Canada and Russia is expected to decline this year, largely as a result of shutdown and bigger cutbacks in platinum production, CPM advised. The analysts forecast 4,776,000 ounces of platinum production this year for South Africa, down from 4,859,000 million last year.

Canada is forecast to produce 208,000 ounces of platinum in 2009, down from 235,000 ounces in 2008, while the U.S. is predicted to produce 119,000 platinum ounces this year, down slight from 120,000 ounces in 2008. Total global platinum production is predicted to be 5,349,000 ounces this year, a 2% decline from 5,459,000 ounces in 2008.

CPM projects that total palladium supply will decline 6.7% to 7.5 million ounces this year. South African palladium output is projected to decline again this year as Canadian output is expected to fall sharply due to the Lac Des Ile mine being placed on care and maintenance.

Meanwhile, Russia's palladium exports could fall to 2.6 million ounces this year. This year’s palladium market surplus is also projected to decline to 304,000 ounces. The surplus decline is due to total palladium supply declining more rapidly than total fabrication demand.

CPM also suggests total palladium fabrication demand this year could decline 4.7% to 7.33 million ounces. Nevertheless, CPM forecasts that investors are expected to further increase their palladium holdings, despite the current weak industrial demand.

"Despite current weak fundamentals for the palladium market, they may pick up toward the end of this year as most forecasts point toward an economic recovery by early 2010," the analysts advised. "Investment demand should increase, fabrication demand may increase as well, and concerns over mine production are expected to remain."

Total rhodium supply is expected to total 885,186 ounces this year, down 3.1% from last year.

Fabrication demand, which declined 6% to 1,011,000 ounces during 2008, is expected to drag the demand for rhodium even lower this year, CPM forecasts.
(Source Mineweb)

Zwelakhe Sisulu Appointed as Director of Eastplats

On Wednesday June 10, 2009, 1:58 pm EDT

http://finance.yahoo.com/news/Zwelakhe-Sisulu-Appointed-as-ccn-15491534.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 10, 2009) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited (TSX:ELR - News; AIM:ELR)(JSE:EPS) ("Eastplats" or the "Company") is pleased to announce that the Company's shareholders approved all of the resolutions put forward at the Annual General Meeting on June 3, 2009 which included the appointment of Mr. Zwelakhe Sisulu as a director of Eastplats.

Mr. Sisulu, 58, is a former Chairman of New Africa Investments Limited (NAIL) and currently Chairman of Dirleton Minerals and Energy (Pty) Ltd. Mr Sisulu is a prominent businessman involved in South Africa's media, telecoms, agri-business, manufacturing and energy sectors, as well as in the minerals sector through his shareholding in Savannah Resources, which has an approximate 20% shareholding in Aquarius Platinum Limited. Mr. Sisulu also controls Gubevu Consortium Investment, the Company's Black Economic Empowerment ("BEE") partner in Barplats Investments Ltd. which holds the Crocodile River Mine and the Kennedy's Vale Project, and Afriminerals (Proprietary) Limited, the Company's BEE partner in the Spitzkop Project. Mr. Sisulu graduated from the Nieman Fellowship Program for journalism at Harvard University in 1985.

"We are delighted to have Mr. Sisulu joining the board of Eastplats. He brings an outstanding combination of knowledge and experience to the Company and having his expertise on the board will be a great asset to the Company's growth and development going forward," stated Ian Rozier.

Total shares issued and outstanding - 680,557,369

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 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.

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

Contact:
Ian Rozier
Eastern Platinum Limited
President & C.E.O.
+1-604-685-6851
+1-604-685-6493 (FAX)
info@eastplats.com
http://www.eastplats.com

Platinum Falls in London on Concern About Flu’s Effect on Trade

By Anna Stablum

April 28 (Bloomberg) -- Platinum fell for a third day in London, the metal’s worst losing streak since January, as commodities slid on concern that the swine-flu outbreak will hamper efforts to revive trade and economies, curbing demand.

Crude oil, industrial metals and grains retreated for a second day. Gold fell below $900 an ounce. The auto industry accounts for about half of platinum use, according to metals researcher and refiner Johnson Matthey Plc.

“Obviously there is potential for a significant impact on global trade and the world economy,” said Dan Smith, an analyst at Standard Chartered Plc in London. “It is seen as another potential setback,” he said of the virus.

Platinum for immediate delivery lost $44.50, or 3.9 percent, to $1,099.50 an ounce at 12:15 p.m. local time. The metal slid for four days through Jan. 15. Palladium, also used by carmakers, fell $7.25, or 3.2 percent, to $218.50 an ounce.

The flu is no longer containable, the World Health Organization said, raising its global pandemic alert to the highest level since the warning system was adopted in 2005. The virus has been confirmed in Mexico, the U.K., the U.S., Canada, Spain, Israel and New Zealand.

Helping the Dollar?

“With investors fearful of the spreading swine-flu virus, risk appetite could remain under pressure today, which could further benefit the greenback,” Manqoba Madinane, an analyst at Standard Bank Group Ltd. in Johannesburg, said in a report.

The dollar climbed for a second day against the euro, which fell as much as 0.4 percent. Precious metals and the dollar tend to move in opposite directions.

Crude retreated, reducing metals’ appeal as a hedge against accelerating consumer prices, on concern that the flu outbreak will hurt travel demand. The virus is having the heaviest effect on energy, Morgan Stanley said yesterday in a report. Copper for three-month delivery declined as much as 4.2 percent on the London Metal Exchange today.

“There is a sell-off in commodities as a whole, and that is having a negative impact on gold,” said Daniel Major, an analyst at RBS Global Banking and Markets in London.

Gold for immediate delivery fell $8.15, or 0.9 percent, to $898.35 an ounce, rebounding from a slide of as much as 1.6 percent. The metal slipped 0.7 percent yesterday after posting its first weekly climb in five weeks. June futures dropped 1 percent to $898.90 in electronic trading on the New York Mercantile Exchange’s Comex division.

Gold Scrapping

“The last time we saw bird flu, demand for gold out of Asia vanished,” Michael Blumenroth, a trader at Deutsche Bank AG in Frankfurt, said by telephone. “It is the same problem at the moment. If it spreads further, it will be bad for every market.”

Bullion fell $14.75 to $897 an ounce in the morning “fixing,” used by some mining companies to sell production, from yesterday’s afternoon fixing.

Gold scrap supplies likely exceeded 500 metric tons in the first quarter, on par with global mine production, according to researcher GFMS Ltd. Scrapping will be “much lower” in the second quarter unless gold prices rise “aggressively,” GFMS Chairman Philip Klapwijk said today in an interview in Zurich.

Holdings in the SPDR Gold Trust, the biggest exchange- traded fund backed by bullion, remained at 1,104.45 tons for a third day yesterday. ETF activity seemingly has “tailed off” in recent weeks, with investors “pausing to take a breath at the moment,” said RBS’s Major.

The metal will benefit from inflation later in the year, according to RBS. Bullion will average $915 an ounce in the current quarter, rising to $975 in the coming three months and $1,000 in the fourth quarter, Major said.

Silver dropped 2.5 percent to $12.59 an ounce.

To contact the reporter on this story: Anna Stablum in London at astablum@bloomberg.net.

Last Updated: April 28, 2009 07:18 EDT

Platinum Demand Set to Full Further in 2009

Thursday, April 23, 2009

LONDON -- Platinum demand is set to fall 7-8 percent this year as car sales slump, but the drop could be greater if price volatility undermines jewellery buying, Peter Ryan, a senior consultant to metals consultancy GFMS, said.

Prices will be heavily reliant on investor interest for gains this year, as the metal's fundamental drivers are expected to weaken further, he told Reuters in an interview on the launch of the GFMS Platinum & Palladium Survey 2009.

"The whole (market) at the present time is really driven by investor interest, especially in exchange-traded funds, with allocations having risen back to the record levels we saw early last year," Ryan said.

"We have got speculative positions on NYMEX at very elevated levels at the moment as well, so there is an awful lot of investor money in the market," he said.

The expected drop in platinum demand this year should be balanced by a corresponding decline in supply as mine production eases and sales of scrap jewellery peter out.

While this would lead to a roughly unchanged market surplus this year from the 265,000 ounces it sees in 2008, a decline in jewellery buying would mean that surplus could surge to 500,000 ounces, he said.

Platinum will continue to be depressed by extreme weakness in consumption by the automotive sector, which typically accounts for over half of global demand for the metal, and other industrial users such as the electronics industry, he said.

Car sales are likely to weaken further in 2009 after a dire second half in 2008, although the market is likely to show some improvement next year, he said.

The strength of retail investment in platinum coins and bars, which was particularly high in Japan at the end of last year, is unlikely to be repeated this year, he said.

Falling car sales could lead to a shift in the make-up of platinum demand this year, Ryan said. Buying by the car sector could represent just 45-46 percent of total platinum consumption this year, he said, down from just under 50 percent in 2008.

Jewellery buying could expand to make up 25 percent of total demand, against 21 percent last year, he added.

Spot platinum's slip from its all-time high of $2,290 last year has boosted jewellery sales.

But platinum jewellery sales have also benefited from a rise in the price of gold, with some buyers choosing platinum as an alternative to the yellow metal, Ryan said.

DRIVER

Nonetheless, while jewellery demand is likely to support prices in 2009, it will do little to actively drive them higher, he said. Jewellery buying is highly price sensitive and dried up recently when the metal rose above $1,200 an ounce.

"If you are looking for the drivers that are going to get us to $1,500 an ounce and beyond, it isn't going to come from jewellery," Ryan said. "It is only going to come from investors."

Unlike gold, platinum has not traditionally been an investment target. However, it has benefited from some interest in commodities as a safe store of value.

"Gold is the number one safe haven -- platinum would have some of that cachet, but it is primarily an industrial and jewellery metal," Ryan said.


"If investors are looking at getting more into gold because they fear currency devaluation, they fear the long-term prospects for inflation and so on, then platinum will get some favourable backwash from that."

The inflow of platinum into ETFs -- which back their securities with physical metal -- has helped support prices.

But ETF stocks can easily be returned to the market, Ryan said, pointing to the large outflow of stocks from the platinum product operated by ETF Securities as prices fell last year.

On the supply side, mine production in South Africa, source of some 75 percent of platinum, is seen broadly unchanged this year, Ryan said. "The fact prices have risen from lows of last year has postponed the most pressing need to cut production."

Jewellery recycling is expected to fall significantly as prices remain relatively low.

Recycling of platinum from the automotive sector is seen higher, but is unlikely to grow at the same pace as last year due to lower steel and PGM prices.

Palladium recycling, however, is likely to see double-digit growth this year, as cars containing an increasingly high proportion of palladium reach the end of their lives, he said.

Overall supply of palladium this year is expected to remain broadly flat, however, as mine output declines.

But demand is expected to fall "quite heavily", by 8-10 percent, as autocatalyst demand for the metal falters.

© 2009 Reuters. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.

Platinum Heads for Second Weekly Decline as Auto Demand Slumps

By Glenys Sim

April 24 (Bloomberg) -- Platinum headed for a second weekly decline as slumping auto industry demand cut consumption of the metal used mainly to make catalytic converters for vehicles.

General Motors Corp., operating with $13.4 billion of federal loans, said in a statement yesterday it will idle 13 U.S. assembly plants for multiple weeks to trim inventory after sales in its home market fell 49 percent this year through March. Platinum supplies will exceed demand for a second year in 2009, London-based research company GFMS Ltd. said yesterday. The metal has gained 27 percent so far this year.

“The fundamentals remain weak in the near term, given the sharp slowdown in vehicle sales,” Barclays Capital analysts led by Gayle Berry said in an e-mailed report today. “In line with our expectations for a recovery in growth in the second half of 2009, the platinum group metals should find more sustained support as production is scaled back in light of low prices.”

Platinum for immediate delivery dropped as much as 0.6 percent to $1,176.50 an ounce and traded little changed at $1,184 at 9:57 a.m. in Singapore. The metal is down 2.2 percent this week. Palladium was unchanged at $233 an ounce.

The platinum surplus was 162,000 ounces last year after a deficit of 109,000 ounces in 2007, GFMS said. It may stay the same this year if jewelry recovers, GFMS analyst Peter Ryan said. Platinum will trade between $900 and $1,375 an ounce this year, GFMS said. Platinum for February 2010 delivery on the Tokyo Commodity Exchange was little changed at 3,723 yen a gram ($1,186 an ounce).

Auto Woes

GM’s plan is to reduce production by 190,000 vehicles from May through July, the company said. The largest U.S. automaker also will pare output at an unspecified number of stamping, engine and transmission factories, North America President Troy Clarke said in a conference call.

Toyota Motor Corp., the world’s biggest carmaker, posted its third straight quarterly drop in sales after demand plunged in the U.S., Europe and Japan. Honda Motor Co., Japan’s second- largest carmaker, cut production for a fifth month in March as sales tumbled.

The global recession has forced Toyota and other Japanese automakers to cut jobs and production, while Detroit automakers General Motors and Chrysler LLC have turned to the U.S. government for aid to survive.

To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net

Last Updated: April 23, 2009 22:06 EDT

Platinum Futures Rise on Demand in China; Palladium Gains

By Halia Pavliva

April 22 (Bloomberg) -- Platinum prices rose for the first time in five session on signs of increasing demand in China. Palladium futures jumped the most in a week.

Platinum imports in China surged 35 percent in March from a year earlier, said Tom Pawlicki, a metals analyst at MF Global Ltd. in Chicago, citing government data from the country. The metal gained as much as 2.3 percent, while gold rose as much as 0.9 percent.

“It is helping platinum to outperform gold and may also signal that jewelry demand in China is improving,” Pawlicki said in an e-mail.

Platinum futures for July delivery gained $24.40, or 2.1 percent, to $1,182 an ounce at 10:13 a.m. on the New York Mercantile Exchange. The price dropped 5.5 percent in the previous four sessions.

Palladium futures for June delivery rose $9.85, or 4.4 percent, to $232 an ounce. A close at that price would mark the biggest increase for a most-active contract since April 13.

Before today, platinum tumbled 43 percent in the past year, and palladium dropped 52 percent. The metals are used in pollution-control devices in cars and jewelry. Gold was down 3.8 percent in 12 months.

Dennis Gartman, an economist and the editor of the Sufflok, Virginia-based Garman Letter, said he is considering buying platinum and palladium, and selling gold on prospects for a “stronger auto market in the future.”

China’s government increased the amount it will spend on subsidizing the purchase of new vehicles by 67 percent in a bid to revive auto demand. The government will spend 1 billion yuan ($146 million) instead of the 600 million yuan budgeted for subsidies, the Ministry of Commerce and Ministry of Finance said today.

To contact the reporter on this story: Halia Pavliva in New York at hpavliva@bloomberg.net.

Last Updated: April 22, 2009 10:16 EDT

Eastplats Reports Record Production for the Quarter Ended March 31, 2009

Thursday April 16, 2009, 9:24 am EDT

http://finance.yahoo.com/news/Eastplats-Reports-Record-ccn-14944371.html

you can ask them to add it

Platinum Rises to Six-Month High on China Car Sales, Stocks

By Jae Hur

April 13 (Bloomberg) -- Platinum advanced for a fifth day to the highest in more than six months as a rally in equity markets and rising auto sales in China increased speculation that demand may gain. Gold climbed for a second day.

Asian stocks rose after posting the fifth straight weekly gain, the longest streak since February 2007, after Japan proposed a $153 billion stimulus package. China’s passenger car sales reached a record in March, boosting demand prospects for platinum and palladium used in catalyst converters for vehicle pollution-control devices.

“Platinum is underpinned by strong car sales in China and recent rallies in global equity markets,” Shuji Sugata, research manager at Mitsubishi Corp. Futures & Securities Ltd., said today. Platinum was also supported by speculation that a potential new exchange-traded fund will increase demand, he said.

Platinum for immediate delivery advanced as much as 2.9 percent to $1,246.75 an ounce, the highest level since Sept. 23, and was at $1,246.25 at 12:57 p.m. Singapore time. The metal rose 4.6 percent last week, the fourth straight weekly advance. Platinum gained 33 percent this year.

Palladium for immediate delivery was up 1.4 percent at $238.50 an ounce, taking its gain this year to 28 percent.

China’s passenger car sales rose 10 percent in March from a year earlier to a record 772,400, the China Association of Automobile Manufacturers said April 9. Demand for minivans surged 40 percent last month in China as the government began giving out 5 billion yuan in subsidies to help rural residents buy vans and light trucks.

Equities Gain

The MSCI Asia Pacific Index climbed as much as 0.9 percent to 88.72, the highest intraday level since Jan. 13, after rising 1.5 percent last week. Some investors buy platinum as an alternative to stocks, bonds and currencies.

In Tokyo, some investors have been shifting money to platinum futures from gold and crude oil for higher returns, Kazuhiko Saito, an analyst at Tokyo-based commodity broker Fujitomi Co., said.

Platinum for February delivery rose as much as 2.7 percent to 4,032 yen per gram ($1,248 an ounce), the highest since Sept. 26, on the Tokyo Commodity Exchange and was at 4,027 yen by 2:01 p.m. local time. Gold for February delivery gained 0.5 percent to 2,883 yen per gram.

Gold for immediate delivery added 0.8 percent to $888.99 an ounce at 1:03 p.m. Singapore time after dropping 1.3 percent last week in the third weekly decline. Silver rose 1.3 percent to $12.525 an ounce.

To contact the reporter on this story: Jae Hur in Singapore at jhur1@bloomberg.net

Last Updated: April 13, 2009 01:52 EDT

>Sorry, Stock Charts does not recognize the ELRFF symbol.

Platinum chart

Platinum Rises to 6-Month High on Demand Outlook; Gold Gains

By Nicholas Larkin

April 9 (Bloomberg) -- Platinum rose to a six-month high in London on speculation that improving auto sales and a potential new exchange-traded fund will increase demand for the metal. Gold also gained.

China’s passenger car sales rose 10 percent in March from a year earlier, while a Toyota Motor Corp. spokesman today said it canceled production cuts in France this month, as German demand partially offset declines elsewhere in Europe. An ETF Securities Ltd. unit on April 2 filed registration documents with the U.S. Securities and Exchange Commission for platinum and palladium trusts backed by physical metal.

“News on the potential ETFs and of course car sales data out of China” are positive for prices, Afshin Nabavi, a senior vice president at MKS Finance SA, one of Switzerland’s four bullion refiners, said by phone from Geneva today.

Platinum for immediate delivery gained as much as $34.25, or 2.9 percent, to $1,213.75 an ounce, the highest since Sept. 25. It traded at $1,209 as of 12:20 p.m. in London. The metal has advanced 29 percent this year after plunging 39 percent in 2008, its worst performance since at least 1987. Palladium rose as much as 1.5 percent to $237 an ounce, the highest since Nov. 6, and last traded at $234.50.

Automakers account for about half of global platinum and palladium use, according to metals researcher and refiner Johnson Matthey Plc.

Most commodities advanced and stocks rose today on speculation that government measures to revive economies and rescue financial firms are working. Japan may unveil a $154 billion stimulus plan, while the New York Times reported all 19 banks examined to determine their viability if the recession deepens will pass the review.

Gold Advances

Gold for immediate delivery rose $4.27, or 0.5 percent, to $884.77 an ounce in London. Still, the commodity is heading for a third weekly decline. June futures were little changed at $885.80 an ounce in electronic trading on the New York Mercantile Exchange’s Comex division.

The Bank of England today kept interest rates unchanged at 0.5 percent and said it will continue a three-month program to purchase 75 billion pounds ($110 billion) of assets to bolster the economy.

The BOE’s decision to continue with so-called quantitative easing may benefit gold prices as investors buy bullion as a hedge against future inflation and a potentially weaker pound, said Bayram Dincer, a commodity analyst at Dresdner Bank in Zurich, before the central bank’s announcement.

Gold Forecast

JPMorgan Securities Ltd. raised its 2009 gold forecast to $960 an ounce, from $831, as government spending may accelerate inflation and devalue the dollar, the bank said in a report dated yesterday.

Investment in the SPDR Gold Trust, the biggest exchange traded fund backed by bullion, was unchanged for a third day at 1,127.37 metric tons yesterday. Assets in the fund, which has overtaken Switzerland as the world’s sixth-largest gold holding, reached a record 1,127.44 tons on April 2.

“Given the lack of fresh investment interest through the SPDR ETF and steadier tone in equities we may have to see gold move lower before fresh demand is stimulated,” James Moore, an analyst at TheBullionDesk.com in London, wrote in a note today.

Bullion rose to $883.75 in the morning “fixing” in London, used by some mining companies to sell production, from $880 at yesterday’s afternoon fixing. Spot prices, which reached a record $1,032.70 in March 2008, are little changed this year.

Silver added 0.3 percent to $12.315 an ounce. JPMorgan raised its 2009 forecast for the metal to $13.90 an ounce, from $11.

To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net

Last Updated: April 9, 2009 07:45 EDT

Is it possible to put the ELRFF.PK chart and pps in the iBox even though it is a trading day behind? TIA

Eastern Platinum Reports Results for the Year Ended December 31, 2008

Tuesday March 31, 2009, 8:26 am EDT

http://finance.yahoo.com/news/Eastern-Platinum-Reports-ccn-14794208.html

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2009) -

Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report financial results for the year ended December 31, 2008.

Highlights for the quarter ended December 31, 2008 ("Q4 2008")

- Eastplats recorded a net loss of $5,742,000 ($0.01 loss per share) compared to a net loss of $10,814,000 ($0.02 loss per share) in the fourth quarter of 2007 ("Q4 2007").

- Production at the Crocodile River Mine ("CRM") increased by 9% to 29,015 PGM ounces, from 26,632 PGM ounces in Q4 2007.

- Negative provisional sales price adjustments of $16,698,000 were recorded in the quarter, causing revenue from CRM to decrease to $356,000 compared to reported revenue of $34,126,000 in Q4 2007.

- The average delivered basket price per PGM ounce was $550, a decrease of 58% compared to $1,305 in Q4 2007, and a decrease of 54% compared to $1,193 in the third quarter of 2008.

- EBITDA was negative $18,168,000 compared to $13,179,000 in Q4 2007.

- Operating cash costs net of by-product credits was $578 per ounce, an improvement of 25% over the $774 per ounce in Q4 2007.

- Average recovery rates for the quarter improved to 76%, compared to 72% in Q4 2007.

- Hard rock ore processed increased by 8% to 298,514 tonnes in Q4 2008 from 275,972 tonnes in Q4 2007.

- The Company acquired an additional direct and indirect 2.47% interest in Barplats Investments Limited, the subsidiary that holds CRM and Kennedy's Vale.

- At December 31, 2008, the Company had a cash position (including cash, cash equivalents and short term investments) of $61,063,000 (December 31, 2007 - $189,856,000).

Highlights for the year ended December 31, 2008

- Eastplats recorded net earnings of $16,364,000 ($0.02 per share) compared to a net loss of $26,836,000 ($0.04 loss per share) for the year ended December 31, 2007.

- Production at the Crocodile River Mine ("CRM") increased by 9% to 117,909 PGM ounces, from 107,967 PGM ounces in 2007.

- Total provisional sales price adjustments were negative $25,162,000 for the year.

- The average delivered basket price per PGM ounce was $1,204, an increase of 4% compared to $1,158 in 2007.

- EBITDA was $36,237,000 compared to $40,343,000 in 2007.

- Operating cash costs net of by-product credits were $622 per ounce, an improvement of 11% over the $699 per ounce in 2007, as the chrome recovery circuit became fully integrated in June 2008.

- Average recovery rates for the year improved to 76%, compared to 72% in 2007, following planned improvements to the concentrator circuit at the Crocodile River Mine.

- Hard rock ore processed increased by 15% to 1,175,519 tonnes in 2008 from 1,025,293 tonnes in 2007.

- The Company achieved an average grade for 2008 of 4.01 grams per tonne, up from 3.96 grams per tonne in 2007.

- During the year, the Company spent $143 million on capital expenditures primarily at Crocodile River and at Spitzkop.

"In the current economic environment, our primary objective is to continue to grow CRM production in a cash flow positive manner. We will continue to focus on lowering our cost profile and preserving our cash balances, as well as taking the appropriate steps necessary to position Eastplats to benefit quickly when PGM prices improve", said Ian Rozier.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Financial Information

For complete details of financial results, please refer to the attached unaudited consolidated financial statements and accompanying Management's Discussion and Analysis ("MD&A") for the year ended December 31, 2008. These financial statements and MD&A, and the comparative financial statements for the year ended December 31, 2007 are all available on SEDAR at www.sedar.com and on the Company's website www.eastplats.com.

Teleconference call details

Eastern Platinum Limited will host a telephone conference call on Tuesday, March 31, 2009 at 10:00 am Pacific (1:00 pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Tuesday, April 7, 2009 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#).

Total shares issued and outstanding - 680,526,421

Cautionary Statement on Forward-Looking Information

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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

Contact:
Ian Rozier
Eastern Platinum Limited
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: http://www.eastplats.com

Is platinum an early sign of economic springtime?

March 30, 2009

By Ethel Hazelhurst

While the global motor industry is still in disarray, platinum is looking pretty good. Having troughed in October at just more than $770 (R7 422 at the current exchange rate) an ounce, the metal hit a high of $1 153 on Friday - a recovery of nearly 50 percent - before retreating to $1 131.

According to Bloomberg, Deutsche Bank ascribed the improvement to "relatively robust" jewellery demand, while Reuters quoted Citigroup linking it to expectations that the US government would provide aid to its car makers. The metal is used in catalytic converters, which reduce pollution from cars.

Whatever the reason that platinum, according to Reuters, was "headed for its second weekly increase and fifth monthly gain", the price surge seems a sign that the end of days is no longer nigh.

It's worth noting that it is South Africa's biggest export.

Commodity prices generally are looking better than they were a few months ago. The Economist's all commodities index shows a bounce back, starting in December. This signals some revival in global growth, which is confirmed by a sharp recovery in the Baltic Dry index, a measure of shipping activity, since December.

Higher commodity prices and less anxiety in the financial markets has allowed the rand to pull back from its weakest point of R11.60 to the US dollar, to close at about R9.5732 on Friday.

Things, of course, are still looking bleak.

The International Monetary Fund forecast two weeks ago that the global economy will shrink by between 0.5 percent and 1 percent this year, with advanced economies shrinking the most - between 3 percent and 3.5 percent.

However, it seems there is still a chance that emerging economies could decouple from the West. The decoupling theory was abandoned when exports plunged worldwide; but some economists are predicting it could happen on the recovery leg.

Platinum Poised for Second Weekly Gain, Fifth Monthly Increase

By Glenys Sim

March 27 (Bloomberg) -- Platinum headed for its second weekly increase and fifth monthly gain, on investors’ optimism that a rally in equities worldwide may signal a rebound in the global economy, improving the demand outlook for the metal.

Platinum, used mainly in automobile pollution-control devices and jewelry, has gained 2.7 percent this week as the Standard & Poor’s 500 Index rallied 8.4 percent and the Dow Jones Industrial Average surged 8.9 percent.

“Platinum group metal prices jumped in part on a more favorable outlook for platinum jewelry demand,” James Steel, an analyst at HSBC Securities, wrote in a note e-mailed today. “Based on our conversations with jewelers and merchants, we believe that platinum jewelry demand has risen recently as low prices have attracted new buyers.”

Platinum for immediate delivery rose as much as 0.4 percent to $1,151.75 an ounce, and traded at $1,145 at 2:52 p.m. Singapore time, up 6.7 percent for the month. The metal rose to $1,163.50 an ounce yesterday, the highest since Sept. 26. Palladium added 0.6 percent to $223 an ounce, after rising to $226.25 yesterday, the highest since Nov. 10.

Platinum is on track for the best quarter in a year, up 23 percent, as consumers buy the metal as an alternative to gold. Platinum’s premium to gold stood at $213.15 an ounce yesterday, compared with $1,041.83 a year ago, according to Bloomberg data.

“The relatively narrow price premium between platinum and gold has encouraged some consumers to shift to platinum jewelry at the expense of gold jewelry,” Steel wrote.

Deutsche Bank AG today raised its platinum 2009 price forecast by 7.2 percent to $1,086 an ounce.

“Although autocatalytic demand is collapsing along with the world economy, we would caution that jewelry demand could remain relatively robust given the recent correction in price,” Johannesburg-based analyst Gary Pearson wrote in the Deutsche Bank quarterly commodities report.

“The platinum market balance is expected to shift from a deficit in 2008 to market surplus in 2009, however we do not expect market surpluses in platinum to be large,” Pearson added.

To contact the reporter on this story: Glenys Sim in Singapore at gsim4@bloomberg.net

Last Updated: March 27, 2009 03:45 EDT

GCC equities in Bank Sarasin's 'Top-10' 2009 investments

by Neeraj Gangalon Friday, 06 March 2009

http://www.arabianbusiness.com/548862--gcc-equities-in-bank-sarasins-top-10-investment-themes-for-09-


FUTURE WATCH: The bank’s CIO sees $80 a barrel as a sustainable level for oil in the long term.

Bank Sarasin has recommended Gulf States' equities as one of its 10 key investment themes in 2009.

The Swiss private bank’s Chief Investment Officer, Burkhard Varnholt expressed confidence about the Gulf states and hailed UAE's $10bn bond move as a 'highly welcome' step. This "only serves to solidify the fundamental investment case for the Gulf States," he said in a company press release.

Varnholt feels the Gulf States are resilient due to the following factors:

• They currently offer the cheapest valuations in seven years;
• They are generally well-managed, family-run companies;
• They have solid corporate balance sheets; and
• They are fundamentally attractive because of their resource wealth.

The bank’s CIO sees $80 a barrel as a sustainable level for oil in the long term. “"Oil prices at $30-40 a barrel are not sustainable. I think $80 a barrel is sustainable over the long term, but we probably won't see that in 2009. I expect the price to easily reach $80 or more in 2010", he said.

"The recovery in demand will support a price rise, but also supply bottlenecks, due to an inadequate investment in exploration equipment and maintenance, for example. But in the short term, as net exporters of oil and gas, the Gulf States will continue to make money. They are still break-even, even at $35 per barrel. This is not the case in Venezuela or Russia".

Sarasin has recently launched the Sarasin GCC Equity Opportunities Fund. The Fund offers exposure to Saudi Arabia, Kuwait, Qatar, Bahrain, Oman and the United Arab Emirates.

Varnhold feels that asset allocation holds the key for investment performance in 2009. The current crisis is creating "once-in-a-generation" opportunities for investors, encouraging them to be both open-minded and contrarian, he said in the press note.

Investors need to scrutinize the long-term sustainability of business models in order to assess risk, Varnhold suggested. A thematic allocation process, which provided important protection, even if limited, from a globalized, interdependent economy in 2008, should also be adopted in 2009, he added.

To hedge against the possibility of policy and economic failures, Sarasin recommends investing a 10% portfolio allocation in gold, which may also serve as hedge against the next wave of reflation and the potential devaluation of the US Dollar.

Varnholt has outlined 10 investments which he believes will be positive for investors in 2009.

These include Chinese A-shares, Gulf States' equities, selected sustainable water companies (i.e. desalination, metering, treatment, irrigation etc.), rare materials such as tantalum and platinum, wheat, grain, corn and fertilizer companies, Norwegian and Swedish Kronas, the Pound Sterling, Asian currencies (except the Hong Kong Dollar), selected convertible bonds, sustainable real estate developers and selected renewable energy companies.

Bank Sarasin launches GCC equity fund
Bank's Dubai-based asset management firm aims to raise $100mn in Q1 of 2009

Platinum may poissibly double in a year. Since this co. follows the price of plat, the possibility of this co. realizing great profits is excellent.

Eastplats Reports Early Adoption of International Financial Reporting Standards for the Year Commencing January 1, 2009

Monday February 16, 4:15 pm ET

http://biz.yahoo.com/ccn/090216/200902160511956001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 16, 2009) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR - News; <a href="AIM:ELR)(JSE:EPS)" target="_blank"AIM:ELR)(JSE:EPS)</a, is pleased to announce that on February 9, 2009, the British Columbia and Ontario Securities Commissions granted the Company exemptive relief to adopt International Financial Reporting Standards ("IFRS") with an adoption date of January 1, 2009 and a transition date of January 1, 2008.

1. IFRS Conversion

Eastplats' comprehensive IFRS conversion plan addresses changes in accounting policies, restatement of comparative periods, organization, internal controls and any required changes to business processes. To facilitate this process and ensure the full impact of the conversion is understood and managed reasonably, Eastplats hired a Manager of Financial Reporting whose time has been largely dedicated to the IFRS conversion project. The Canadian accounting staff has attended several training courses on the adoption and implementation of IFRS and the South African accounting staff is familiar with IFRS due to the local adoption of IFRS in 2005. Through in-depth training and the reconciliation of historical Canadian GAAP financial statements to IFRS, Eastplats believes that its accounting personnel have obtained a thorough understanding of IFRS.

Eastplats has reviewed its accounting system, its internal controls and its disclosure control processes and believes they will not need significant modification as a result of the conversion to IFRS.

2. Initial adoption of International Financial Reporting Standards

IFRS 1 "First-time Adoption of International Financial Reporting Standards" sets forth guidance for the initial adoption of IFRS. Under IFRS 1, the standards are applied retrospectively at the transitional balance sheet date with all adjustments to assets and liabilities taken to retained earnings unless certain exemptions are applied. Eastplats will be applying the following exemptions to its opening balance sheet dated January 1, 2008:

(a) Business Combinations

IFRS 1 indicates that a first-time adopter may elect not to apply IFRS 3 Business Combinations retrospectively to business combinations that occurred before the date of transition to IFRS. Eastplats will take advantage of this election and will apply IFRS 3 to business combinations that occurred on or after January 1, 2008.

(b) Cumulative translation differences

IFRS 1 allows a first-time adopter to not comply with the requirements of IAS 21 The Effects of Changes in Foreign Exchange Rates for cumulative translation differences that existed at the date of transition to IFRS. Eastplats has chosen to apply this election and will deem its cumulative translation differences for all foreign operations to be zero at the date of transition to IFRS. If, subsequent to adoption, a foreign operation is disposed of, the translation differences that arose before the date of transition to IFRS shall be excluded from the gain or loss on disposal.

(c) Share-based payment transactions

IFRS 1 encourages, but does not require, first-time adopters to apply IFRS 2 Share-based Payment to equity instruments that were granted on or before November 7, 2002, or equity instruments that were granted subsequent to November 7, 2002 and vested before the later of the date of transition to IFRS and January 1, 2005. Eastplats has applied the election to apply IFRS 2 prospectively to equity instruments vested prior to January 1, 2008.

(d) IAS 27 - Consolidated and Separate Financial Statements

In accordance with IFRS 1, if a company elects to apply IFRS 3 Business Combinations retrospectively, IAS 27 Consolidated and Separate Financial Statements must also be applied retrospectively. As Eastplats elected to apply IFRS 3 prospectively, the Company has also elected to apply IAS 27 prospectively.

IFRS 1 also outlines specific guidelines that a first-time adopter must adhere to under certain circumstances. Eastplats will be applying the following guidelines to its opening balance sheet dated January 1, 2008:

(a) Assets and liabilities of subsidiaries, associates and joint ventures

In accordance with IFRS 1, if a parent company adopts IFRS subsequent to its subsidiary, associate or joint venture adopting IFRS, the assets and the liabilities of the subsidiary, associate or joint venture are to be included in the consolidated financial statements at the same carrying amounts as in the financial statements of the subsidiary, associate or joint venture. Eastplats will apply this election.

(b) Estimates

In accordance with IFRS 1, an entity's estimates under IFRS at the date of transition to IFRS must be consistent with estimates made for the same date under previous GAAP, unless there is objective evidence that those estimates were in error. Eastplats' IFRS estimates as of January 1, 2008 will be consistent with its Canadian GAAP estimates for the same date unless evidence is obtained that indicates that the estimates were in error.

3. Impact of IFRS

IFRS employs a conceptual framework that is similar to Canadian GAAP. However, significant differences exist in certain matters of recognition, measurement and disclosure. While adoption of IFRS will not change Eastplats' actual cash flows, it will result in changes to Eastplats' reported financial position and results of operations. In order to allow the users of the financial statements to better understand these changes, the following qualitative explanation of the differences between Canadian GAAP and IFRS was completed for Eastplats' net earnings, assets, liabilities, and shareholders equity for the nine month period ended September 30, 2008.

(a) Revenue and interest income

Eastplats settles its metal sales three to five months following the physical delivery of the concentrates.

Canadian GAAP - All sales revenue is recorded as trade revenue with 100% of the receivable recognized on the date of sale. Sales that have not settled by period end are adjusted to the period end market price.

IFRS - The future revenue expected to be received must be present valued. The difference between the present value and the future value is recognized as interest revenue over the term of settlement. The remainder of revenue is recorded as trade revenue. Sales that have not settled by period end are adjusted to the market price at the period end market price unless a lower price is expected in which case the lower prices are applied.

(b) Cost of sales

As discussed below, property, plant and equipment has a different value in accordance with IFRS than in accordance with Canadian GAAP. This results in a different value for amortization expense, and a corresponding change in cost of sales.

(c) Impairment reversals and other income

Canadian GAAP - Impairment losses cannot be reversed.

IFRS - Impairment losses can be reversed. Eastplats' South African subsidiaries' financial statements have been prepared in accordance with IFRS since 2005 and have recognized impairment loss reversals between 2005 and 2008. In accordance with IFRS 1, the Company measured its subsidiaries' assets and liabilities at their IFRS values which included the impairment loss reversals.

(d) Stock based compensation

Canadian GAAP

(i) The fair value of stock-based awards with graded vesting are calculated as one grant and the resulting fair value is recognized on a straight-line basis over the vesting period.

(ii) Forfeitures of awards are recognized as they occur.

IFRS

(i) Each tranche of an award with different vesting dates is considered a separate grant for the calculation of fair value, and the resulting fair value is amortized over the vesting period of the respective tranches.

(ii) Forfeiture estimates are recognized in the period they are estimated, and are revised for actual forfeitures in subsequent periods.

(e) Minority shareholder's interest

Minority shareholder's interest is calculated in the same manner in accordance with Canadian GAAP and IFRS. However, minority shareholder's interest is calculated based on profit after taxation and the adjustments discussed above directly affect profit after taxation. This is expected to result in an adjustment to minority shareholder's interest.

(f) Income tax expense

Income tax expense is calculated in the same manner in accordance with Canadian GAAP and IFRS. However, income tax expense is calculated based on profit or loss and the adjustments discussed above directly affect profit or loss. This is expected to result in an adjustment to income tax expense.

(g) Trade and other receivables

Please refer to the revenue discussion in point (a) above.

(h) Intangible assets

Canadian GAAP - Purchased mineral rights are recorded as property, plant and equipment.

IFRS - Purchased mineral rights are recorded as intangible assets. This results in a corresponding adjustment to property, plant and equipment and intangible assets.

(i) Property, plant and equipment ("PPE")

There are three adjustments made to PPE: reclassification as intangible assets, reversal of impairment losses, and depreciation. The reclassification of mineral properties from PPE to intangible assets has been discussed in point (h), reversal of impairment losses has been discussed in point (c), and changes in depreciation amounts have been discussed in point (b). Please refer to these discussions for further information.

(j) Future income tax asset/liability

Future income tax asset/liability is calculated in the same manner in accordance with Canadian GAAP and IFRS. However, the balances (e.g. PPE) used to calculate the future income tax asset or liability differ under Canadian GAAP and IFRS. This is expected to result in an adjustment to the future income tax asset or liability.

(k) Accounts payable, accrued liabilities and provisions

Canadian GAAP - Accounts payable, accrued liabilities and provisions are disclosed on the balance sheet as a single line item.

IFRS - A provision is a liability of uncertain timing or amount. Provisions are disclosed separately from liabilities and accrued liabilities and require additional disclosure.

(l) Asset retirement obligation ("ARO")

Canadian GAAP - When the ARO is revalued, any difference between the current and previous ARO is recorded against the asset.

IFRS - When the ARO is revalued, any difference between the current and previous ARO is allocated between the environmental asset and the expense.

(m) Accumulated other comprehensive income or loss

Canadian GAAP - Four of Eastplats' subsidiaries are considered to be integrated subsidiaries. The non-monetary assets and liabilities of these subsidiaries are translated using historical rates. The difference resulting from the balance sheet and income statement being translated at different rates is recorded within "Foreign exchange gain or loss" on the income statement.

IFRS - All subsidiaries assets and liabilities are translated at the period end spot rate. The difference resulting from the balance sheet and income statement being translated at different rates is recorded within Cumulative Translation Adjustment on the balance sheet. As well, the IFRS 1 exemption discussed in point (ii) above will result in an adjustment to accumulated other comprehensive income or loss.

(n) Accumulated profit or loss.

As discussed above, the transition to IFRS resulted in adjustments to net income and retained earnings. These adjustments resulted in a corresponding adjustment to accumulated profit or loss.

Total shares issued and outstanding: 680,526,421

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

Eastplats Reports Production Results for the Quarter Ended December 31, 2008

Monday January 26, 8:58 am ET

http://biz.yahoo.com/ccn/090126/200901260508159001.html?.v=1

Conference Call Monday 26 January

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 26, 2009) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited is pleased to report on production from the Crocodile River Mine ("CRM") for the fourth quarter ended December 31, 2008.
Production statistics for the quarter are as follows:
--------------------------------------------------------------------------

 
                             Quarter  Quarter  Quarter   Quarter 
                               ended    ended    ended     ended 
                              Dec 31, Sept 30, June 30, March 31,  Increase 
 Production                     2008     2008     2008      2008  (Decrease) 
 -------------------------------------------------------------------------- 
                                  Q4       Q3       Q2        Q1   Q4 vs Q3 
 Ounces produced              29,015   30,755   30,314    27,825     (1,740) 
 Total tons processed        298,514  317,602  337,471   349,497    (19,088) 
 Development meters            4,604    5,599    5,575     4,409       (995) 
 On-reef development meters    2,922    3,556    3,230     2,343       (634) 
 Head grade (grams/ton)         3.98     3.99     4.03      4.04      (0.01) 
 Concentrator recovery (%)        76       78       73        78         (2) 
 

Eastplats Increases Equity in Barplats; New BEE Partners

Friday December 12, 9:11 am ET

http://biz.yahoo.com/ccn/081212/200812120502519001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 12, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited (TSX:ELR - News; AIM:ELR)(JSE:EPS), ("Eastplats" or the "Company") is pleased to announce that Eastplats has increased its direct shareholding in Barplats Investments Limited ("Barplats") to 74.99% and at the same time has increased its ownership in Gubevu Consortium Holdings Pty Ltd. ("Gubevu"), the Black Economic Empowerment ("BEE") compliant minority shareholder of Barplats, to 49.9%, in each case by way of equity investments. The total net cost to Eastplats to effect these ownership increases was US$38,954,146.

Concurrent with these transactions, the majority interest in Gubevu, previously held by a consortium headed by Dr. Penuell Maduna, has been acquired by Usiba Resources (Pty) Ltd. ("Usiba"), a South African company controlled by Mr. Zwelakhe Sisulu. Mr. Sisulu is a former Chairman of New Africa Investments Limited ("NAIL") and a prominent businessman involved in South Africa's media, telecoms, agri-business, and manufacturing, as well as in the minerals sector through his shareholding in Savannah Resources, which has an approximate 20% shareholding in Aquarius Platinum Limited. Mr. Sisulu also controls Afriminerals, the Company's BEE partner in the Spitzkop project.

"We are very pleased that we have been able to acquire more of what we already control and operate, as well as to co-ordinate these acquisitions with the transaction involving our two BEE partners. We look forward to working with Mr. Sisulu's group to further advance our interests in South Africa's PGM sector," stated Ian Rozier.

Total shares issued and outstanding: 680,526,421

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 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.

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Contact:
Investor Relations
Eastern Platinum Limited
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: http://www.eastplats.com

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

Eastern Platinum Reports Results for the Quarter Ended September 30, 2008

Thursday November 13, 8:46 am ET

http://biz.yahoo.com/ccn/081113/200811130497018001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 13, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats") (TSX:ELR - News; AIM:ELR)(JSE:EPS) is pleased to report on financial results for the quarter ended September 30, 2008.

Highlights for the quarter ended September 30, 2008 ("Q3 2008")

Eastplats recorded a net loss of $10,561,000 ($0.02 loss per share) compared to a net loss of $1,390,000 ($0.00 loss per share) in the third quarter of 2007 ("Q3 2007"). The Company's net loss increased over Q3 2007 primarily due to a significant decline in the price of PGMs during Q3 2008.

- Production at the Crocodile River Mine ("CRM") increased by 5% to 30,758 PGM ounces, from 29,417 PGM ounces in Q3 2007.

- Negative provisional sales price adjustments (prior months' adjustment and end of quarter mark-to-market) of $29,416,000 were recorded in the quarter, causing revenues from CRM to decrease by 70% to $9,291,000 compared to $31,452,000 in Q3 2007.

- The average realized basket price per PGM ounce was $1,193, an increase of 10% compared to $1,088 in Q3 2007, but a decrease of 28% compared to $1,657 in the second quarter of 2008 ("Q2 2008").

- EBITDA was negative $11,338,000 compared to $11,036,000 in Q3 2007.

- Operating cash costs were $672 per ounce, an increase of 5% compared to $637 per ounce in Q3 2007, but a decrease of 3% compared to $696 per ounce in Q2 2008.

- Operating cash costs net of by-product credits was $521 per ounce, as the chrome recovery circuit became fully integrated at the end of the last quarter.

- Recovery rates improved to 78%, compared to 72% in Q3 2007, following planned improvements to the concentrator circuit at the CRM.

- Average grade was 3.99 grams per tonne (5PGE+Au) compared to 4.10 grams per tonne (5PGE+Au) in Q3 2007.

- Stoping units for the quarter increased by 12% to 39,652 square meters, compared to 35,262 square meters in Q3 2007.

- Total underground development increased by 15% to 5,599 meters during the quarter (4,868 meters in Q3 2007).

- The average mining rate decreased by 1% to 106,487 tonnes per month during Q3 2008 from 107,926 tonnes per month in Q3 2007.

- At September 30, 2008, the Company had a cash position (including cash, cash equivalents and short term investments) of $172,060,000 (December 31, 2007 - $189,856,000).

"The significant decline in PGM prices during the last four months has had a negative impact on the Company's cash flow. Given the challenging markets we are currently facing and the uncertainty of future market conditions, we have addressed capital expenditures in order to preserve our robust cash balances by rescheduling our development projects, Crocette, Spitzkop and Mareesburg and we have made significant progress in reducing our operating costs at CRM. We believe we have taken the appropriate action to make Eastplats well positioned to benefit quickly when the PGM market recovers," said Ian Rozier.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Financial Information

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

Teleconference call details

Eastern Platinum Limited will host a telephone conference call on Thursday November 13, 2008 at 10:00 am Pacific (1:00 pm Eastern) to discuss these results. The conference call may be accessed by dialing 1-800-319-4610 in Canada and the United States, or 1-604-638-5340 internationally.

The conference call will be archived for later playback until Thursday November 20, 2008 and can be accessed by dialing 1-604-638-9010 or 1-800-319-6413 and using the pass code 4219 followed by the number sign (#).

Total shares issued and outstanding - 680,526,421

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Cautionary Statement on Forward-Looking Information

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

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

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

Contact:
Ian Rozier
Eastern Platinum Limited
President & C.E.O.
(604) 685-6851
(604) 685-6493 (FAX)
Email: info@eastplats.com
Website: http://www.eastplats.com

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

Eastplats to Increase Production in 2009 but to Reschedule New Projects

Friday November 7, 8:29 am ET

http://biz.yahoo.com/ccn/081107/200811070495812001.html?.v=1

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 7, 2008) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats" or the "Company") (TSX:ELR - News; AIM:ELR)(JSE:EPS) reports that as a result of the dramatic drop in the PGM metal prices over the last three months and the associated reduction in operating margins, the Company has re-evaluated its short term development plan. Eastplats is committed to remaining a cost effective producer and over the short to medium term will concentrate on growth projects that support this objective. Accordingly, the Company will maintain near term focus on the optimization of production from the Crocodile River Mine (CRM) complex and reschedule other project developments in order to preserve existing cash resources.

Specific actions to be taken immediately include the following:

Western Limb - Crocodile River Mine

- The primary focus will be on optimizing production from the existing Zandfontein and Maroelabult sections of the mine.

- The refit of the Number One shaft at Zandfontein is complete and the shaft is operating. This complements the existing declines, opens up new areas for mining and reduces the cost of moving mine workers, material, ore and waste.

- Wherever possible, ongoing development work will be conducted using Eastplats crews rather than third party contractors.

- Work will continue on the installation of backup power to enable operations to continue during potential reductions in supply from Eskom.

- Work will continue on optimizing the chromite recovery circuit in the concentrator to produce the more profitable chromite products.

- The main ore conveyor and some of the mining fleet at Maroelabult have been replaced to support improved productivities through more reliable operation.

- The Crocette section declines have been driven down to the UG2 reef. The development of this section will be put on care and maintenance while the Company focuses on increasing production from existing mining areas.

- Eastplats forecasts 140,000 ounces of production from CRM in 2009, up 17% over 2008's full-year estimate of 120,000 ounces.

Eastern Limb - Spitzkop, Kennedy's Vale and Mareesburg

Most of the development on the Eastern Limb will be rescheduled until the PGM market improves. Specific actions include the following:

- Design work for the Spitzkop mine and concentrator will continue in order to produce an updated cost estimate and schedule for the project. This is expected to be completed by the first quarter of 2009 (Q1 2009). Current procurement activities will be put on hold.

- The feasibility study for the Mareesburg open pit continues and is expected to be available by Q1 2009.

- The UG2 and Merensky declines at Spitzkop have been developed to the point where they will be put on care and maintenance.

- The civil works underway for the development of the concentrator terrace at Kennedy's Vale will be put on hold.

"These actions will allow Eastplats to continue to be a low cost producer and conserve cash. As a direct result of the extensive underground development carried out at CRM over the past two years, we have the flexibility to enact these measures and at the same time increase production. Our new development projects, now rescheduled, can be maintained at very low cost and can be re-activated quickly when the PGM market recovers," stated Ian Rozier, CEO of Eastplats.

The qualified person having reviewed the operating disclosures presented in this press release is Mr. Brian Montpellier, V.P. Project Development, P. Eng.

Total shares issued and outstanding: 680,526,421

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 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

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

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