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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Post by FreedomFun55on Nov 09, 2015 11:03am

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Post# 24273141

Update

https://www.digitaljournal.com/pr/2737227

"VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 9, 2015) - Eastern Platinum Limited (the "Company" or "Eastplats") (TSX:ELR)(JSE:EPS) reports, further to its news release of October 22, 2015, that it has sought clarification from Hebei Zhongbo Platinum Co. Limited ("HZP") as to the validity of statements made by Beijing Hehe Fengye Investment Co. Ltd. ("Beijing Hehe") in its press release of October 21, 2015 (the "Beijing Hehe Release").

As a result of such inquiries, the Company has been advised that Beijing Hehe's approval as a shareholder is required for HZP to execute the definitive agreements necessary to give effect to the restructured transaction between Eastplats and HZP as detailed in a news release of the Company dated June 8, 2015. Further, as detailed in the Beijing Hehe Release, Beijing Hehe has stated that it does not intend to provide such approval.

The Company understands that the shareholders of HZP are currently engaged in a process to resolve their differences. HZP has however advised the Company that, until such resolution occurs, the transaction cannot proceed."

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