Eastern Platinum Ltd. T.ELR

Alternate Symbol(s): ELRFF

Eastern Platinum Limited owns directly and indirectly a number of platinum group metals (PGM) and chrome assets in the Republic of South Africa. It is engaged in re-mining and processing of tailings at the Crocodile River Mine (CRM) and the exploration and development of other PGM and chrome properties located in various provinces in South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the PGM-bearing ore. Operations at the Crocodile River Mine include re-mining and processing its tailings resource to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam. Its six PGMs are platinum, palladium, rhodium, osmium, iridium and ruthenium. The Kennedy’s Vale and Spitzkop Project are situated on the Eastern limb of the Bushveld Complex 350 kilometers northeast of Johannesburg.

TSX:ELR - Post by User

Eastern Platinum Ltd.

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Comment by GoldenDilemmaon Nov 21, 2016 9:37pm

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Post# 25493105

RE:More Info

GoldenDilemma wrote: Interim COO @ ELR is Andrea Zhang. She is with Oriental Fortune Consulting. OFC is controlled by Xiao Zhang (discovered this by buying the company filings from a HK source).

Andrea has not received any options @ $1.05. Xiao has, however. Perhaps Xiao will soon replace Andrea.

Furthermore, Diana Hu... She is with CGH Industries in BC which is a scrap metal waste company. It appears they are shipping a bulk of their material back to China. CGH Industries is linked to Caland Resources Ltd. as they both have the same #. Caland Resources is run by Wei Guo.

Scrap and waste is of relevance. Not sure if there is any correlation to Diana Hu, Wei Guo and Hebei - but - please read: https://www.saflii.org/za/cases/ZACT/2015/110.html

Points 24, 27

I have a gut feeling the original Hebei group is still involved and this is simply a play for the company at a cheaper price. I do not know the odds for an asset sale.

It appears the behind the scenes legality concerning the BEE is the issue here. The company cannot make any moves forward, and a third party cannot make any moves until this is resolved.

However, with everyone down 50%+ right now, and directors who signed NDA's for options @ $1.05, there must be an exit or end-strategy in mind.

Concerning Xiao Zhang, it appears Xiao is a neutral name which could be appointed to either female or male. However, from the SEDAR filing on July 5th:

"Andrea Zhang was appointed interim Chief Operating Officer of the Company, with authority to assume operations and supervision of the Company’s South African operations

Anton Lubbe was appointed Vice President, South African Operations, reporting directly to Mr. Zhang. Mr. Lubbe is a Qualified Person for the purposes of NI 43-101."

So, given the title of "Mr." perhaps Andrea/Xiao are the same person.

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