EASTERN PLATINUM - CREAM OF THE CROP Symbol(s): | ELR.TO |
Date: | 15-Jan-10 |
Author: | Michael Starke, Charles Gibson |
Contributor: | Edison Investment Research |
Title: | EASTERN PLATINUM - CREAM OF THE CROP |
Yesterday, Eastern Platinum reported production of 34,000oz of PGMs for the December quarter. Although marginally lower than our expectations (of 34,336oz), production was up 13% compared to the previous quarter and up 17% compared to the same period the year before. The results are testament to management’s commitment to make the Crocodile River Mine one of the most cost-efficient platinum producers on the Bushveld. Looking ahead, we expect further production increases this year as the Crocette section is reactivated and the full benefits of the newly recommissioned Zandfontein shaft flow through. At current PGM prices, we value CRM alone at 77p per share.
Research type: Update
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I think it will go past its 5 yr high of $4 pps very soon...
The title did it for me...Enjoy..
Oz.