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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
Comment by PUNJABIon Mar 25, 2013 9:19am
314 Views
Post# 21162332

RE: RE: Big crosses = Fake Volume

RE: RE: Big crosses = Fake Volume

There are number of factors that you have to watch which will influence the share price. The most important is the fundamentals of the company. Breakeven point where they stop burning cash.  The company has cash of $130m that is $.14 a share. So value wise the stock is trading very close to the cash on hand. The burn rate is not that big because they have stopped expansion. So take over if any will happen at much higher price.

Problem is that the company is  SA. Which has power, labour & other issues. I do not like mines in SA. They trade at a huge discount. Constant bad news coming out of the country.

 

Besides break even being a trigger for share price the commodity price is another important trigger. So you have to monitor the commodity prices.

 

In the mean time follow the technicals. Last month the stock had created a golden cross. But it is not looking good as the moving averages have started to curve lower & the golden cross may fail.  The stock is very oversold now & should start to bottom out last, the support area is $.12 to $.13 where I will buy & flip some shares for a few cents till it starts to move up.  Do not believe in just buy & hold. I have to make some money while holding.

Bullboard Posts