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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 tjw4on Aug 18, 2016 4:12am
135 Views
Post# 25153027

RE:Consider this...

RE:Consider this...The smartest thing said about this was by warthog. As he said there is no reason to believe the press release, what else do you expect them to say? By saying they will start up the mine it gives them more leverage in a sale. 

Having said that since I do believe they are selling it to themselves,  They dont own enough to make major decisions even if they have the board control right now that can change in 10 months so they can't exactly go out and do things that 80% of the other shareholders don't want them to do. Believe me the minute this thing goes off the correct path, All the big funds are going to be on the phone telling them to cut the nonsense and stop burning cash, thats what happened to the last board when they tried to make a sale that kept all the money in house for other projects.

This thing is getting sold, and its not going to be for 50 cents, its actually probably good for us if it takes longer as I believe the prescious metal prices will continue to rise making this a more attractive target. We just need the prices to rise or steady over a long enough period as many of the big miners are still gunshy about acquisitions because they got burned so badly 5 years ago. 
Bullboard Posts