Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

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 FreedomFun55on Oct 02, 2016 3:44am
145 Views
Post# 25299381

Prediction

PredictionAgreed Golden, we don't know schit!  But as stated KaAn convinced enough majors to gain control so what was the carrot?  AND with the dollars involved was it guaranteed somehow or just a wink wink nudge nudge.  Random Prediction is this vote is all for show.  I 'think' the new board has to recommend the deal because of the 'play' made by the old board and associated break fees ect.  I 'think' if shareholders reject, no break fees are paid.  'If' that's true and 'if' KaAn is against this deal (which the new board kind of implied with their statements when they took over) then I'm guessing KaAn has enough votes in their pocket to block or will purchase the extra bit they need to MAKE SURE we are under the 75%.  If KaAn is for the deal,they sure aren't doing schit to try and convince retail holders.  Common sense is they didn't invest +/- 23 million to lose money.  They obviously are backed by 'someone' with some deep pockets and some kind of end game.  If Harrington was so scared they would have likely sold all of their shares.  Still can't see the other major holders supporting a KaAn run mine restart (not at these PGM prices). Can't help but think the carrot is a sale for the works to a Hebei #3 or whomever.  How else does KaAn profit.  They can't just give the platinum away to their buddies... If they do any kind of dilution or Schit deal then the share price tanks even more and their investment is worth what?  They are already technically down +/- 33% and who would ever buy their shares if they tank this thing even further.  Other majors will sue if anything shady happens as they still have a lot to lose.  Sure KaAn can kill this deal, BUT they will need to make the next one good enough to get the 75% they need.  Worst case they pull a massive dilution from a 'Hebei' investment to buy a chunk of the company, at that point though why not just buy it all. Really at these valuations your buying probably 1/4 or more of it par for the cash...  And again, any dilution likely hurts your 23 mil investment.  Either way the old crooks are out and change is a coming.  Not that it will matter but can't help but feel thoroughly neglected as a retail holder and therefor will be voting accordingly.  If someone wants the assets I hold a tiny piece of then earn my vote.  And yes I get that they don't give two schits about us, but as stated they should because as a group we can determine the outcome of the last 25% to get the 75% threshold when they actually need our votes !!!  Sadly we just don't know SCHIT and will probably get screwed...
Bullboard Posts