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. 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 world’s PGM-bearing ore. Operations at the Crocodile River Mine include re-mining and processing its tailings resource from the Barplats Zandfontein tailings dam and mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates. The Kennedy’s Vale and Spitzkop Project are situated on the Eastern limb of the Bushveld Complex 350 kilometers (km) northeast of Johannesburg. Mareesburg is an open-cut PGM project on a 2,129- hectares area in the southern part of the eastern limb of the Bushveld Complex, in the Limpopo Province of South Africa.

TSX:ELR - Post by User

Eastern Platinum Ltd.

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Comment by djemouon Jul 15, 2008 9:51pm

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Post# 15296385

RE: all -in - costs

How you can explain this new release:

VANCOUVER, BRITISH COLUMBIA, May 15, 2008 (Marketwire via COMTEX News Network) --

Mr.Ian Rozier, President and CEO of Eastern Platinum Limited(TSX:ELR)(AIM:ELR)(JSE:EPS) ("Eastplats") is pleased to report onfinancial results for the three months ended March 31, 2008.

Highlights for the quarter ended March 31, 2008 ("Q1 2008")

Eastplatsposted record net earnings of $19,962,000 ($0.03 per share) compared toa net loss of $9,939,000 ($0.02 loss per share) in the first quarter of2007 ("Q1 2007"). The Company's results improved over Q1 2007 primarilydue to a significant increase in revenues and increased PGM production.

- Revenues from the Crocodile River Mine increased by 80% to$56,408,000, generated from the sale of 27,825 PGM ounces, compared torevenues of $31,332,000 from the sale of 26,807 PGM ounces in Q1 2007.

- EBITDA increased by 217% to $36,658,000 from $11,569,000 in Q1 2007.

- The average sales price per PGM ounce increased by 44% to $1,621 compared to $1,130 in Q1 2007.

- Operating cash costs decreased by 1% to $698 per ounce, compared to $704 per ounce in Q1 2007.

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