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.

Bullboard Posts

Post by FreedomFun55on Sep 02, 2015 11:54am

134 Views

Post# 24071860

Research on this Sale

This older article on the potential sale had good points on the risks vs. potential rewards here (also good updates on the comments sections ect. if you can get full access):

https://seekingalpha.com/article/3048306-eastern-platinum-huge-discount-to-post-deal-cash-balances

the above link names "Heibi Zhongbo, part of the Heibi group, which is a Chinese company with interests primarily in steel and iron ore" as the parent group.

I found this article stating: "Aug 24 Hebei Iron & Steel Co Ltd , China's largest steelmaker, said it plans to raise up to 8 billion yuan ($1.25 billion) in a private placement to fund an acquisition of a sister firm that makes automotive sheets.

The company said in a stock exchange statement on Sunday that it would issue 1.43 billion shares at 5.6 yuan a share to investors including brokerages and insurance firms. The cash raised will also be used to invest in other projects and pay off bank loans, it said."

https://www.reuters.com/article/2015/08/24/heibei-iron-equity-idUSL5N10Z00G20150824

Can anyone confirm if this is the same group that is involved in this offer?
The 1st articles author's spelling differs with "Heibi", but his link on page 2 for "multi-billion" takes you directly to the Hebei Iron & Steel Co Ltd quote https://www.bloomberg.com/quote/000709:CH

If it is, their market cap is +/- 47 billion (https://www.google.com/finance?q=Hebei+Iron+%26+Steel+Co+Ltd&ei=SAbnVdCaJqmnigK45KWAAw)

Other articles listed on the above google link suggest a growing move into South Africa...

Any thoughts ??? Anyone know how the meeting went or how long it takes for a decison...

Am guessing its decision time & news to follow soon one way or anthor with the meetings earlier today & upcoming AGM ect. Fingers crossed for a good outcome for all... Good Luck!