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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

Bullboard Posts
Post by twosenseon May 18, 2010 12:05am
529 Views
Post# 17108071

4 brokerages

4 brokeragesCIBC, National, Anon and new to the game UBS. These are main players that drive this stock. They dont all work together but they ebb and flow. This is your high risk mutual funds at work. CIBC makes a living trading ELR. They wont drive it under $1 as it would lose its luster and volume (not mention) its new listing on the TSX. Banks dont trade under $1 for funds and this is fight for position between them. Once a bid/ask is eaten up its filled up at 999 in order to drive direction but i need need to state the obvious. We dont matter. We trade 1k,5k,10k,25k, its not enough to push it 1 cent. Its the banks that pony up 100-500k sometimes 1m shares to move it and keep the momentum by repeating the push. They take a positiion but as we've seen sometimes platinum jumps and ELR still moves down OR platinum takes a $hit and s/p is still rising. They take a position and stick to it until its covered and THEN S/P moves accordingly. These banks wont drop it back down to Venture! Have some fun with this stock while 0.01 is worth almost 1% and dont average down... side play!!!
Bullboard Posts

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