Eastern Company EML

Industrials

The Eastern Company manages industrial businesses that design, manufacture and sell engineered solutions to industrial markets. The Company has one reportable segment: Engineered Solutions. The Engineered Solutions segment provides engineered solutions to support its customers needs in the commercial transportation and logistics markets. It designs, manufactures, and markets a diverse product line of custom and standard vehicular and industrial hardware, including turnkey returnable packaging solutions, access and security hardware, mirrors, and mirror-cameras. It offers a standard product line of rotary latches, compression latches, draw latches, hinges, camlocks, key switches, padlocks, and handles, among other products. Its subsidiary, Velvac Holdings Inc. is a designer and manufacturer of proprietary vision technology for original equipment manufacturers (OEMs) and aftermarket applications, and a provider of aftermarket components to the heavy-duty truck market in North America.

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Eastern Company

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Post by EDTV30on Aug 27, 2008 4:24pm

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Post# 15414359

12 000 000 in bank

Working capital (deficiency) 12,408,082

During fiscal 2008, the Company recorded $340,123 (2007 - $175,946) interest income derived from cash held on
deposit. The increase was attributable to the higher levels of cash and short-term deposits held during fiscal 2008.
During fiscal 2008, the Company received $6,197,364 dividend income from Atomaer

Condor Gold Project
Mineral Tenements
The Condor project comprises six mineral tenements in south-eastern Ecuador, four in joint venture with a company
owned by Holding DINE SA (“DINE”) which is in turn controlled by a military affiliated office of the state of Ecuador
(7124.5ha) and two held solely by Ecometals Limited subsidiaries (1159ha).
Exploration Program
The exploration program on the Condor project concentrated on the 3-D geological model of the Los Cuyes and Soledad
gold occurrences working towards a new independent mineral resource estimation compliant with CIMM/NI43101
regulations. The current exploration model is based on a low grade large tonnage type deposit with heap leach extraction
of gold.
Geologist Toby Hughes, P.Geo. was appointed as independent QP to prepare a technical report to NI43-101 standards
for submission to the TSXV. This report concentrates on the review of the geological information and confirmation of
Condor as a project of merit warranting further exploration work. There have been some delays in finalizing this report
due to some delays on receipt of historical information. The independent resource estimate will be compiled in a separate report