| Thu 13 Sep 2007, 15:05 | | ELR/ELR/EPS - Eastern Platinum Limited - Construct |
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EPS
EPS
ELR/ELR/EPS - Eastern Platinum Limited - Construction of Chrome recovery plant
at Crocodile River underway
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR & ISIN: CA2768551038
Share Code AIM: ELR & ISIN: CA2768551038
Share Code JSE: EPS & ISIN: CA2768551038
CONSTRUCTION OF CHROME RECOVERY PLANT AT CROCODILE RIVER UNDERWAY
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")
reports that the construction of the chrome recovery plant at its Crocodile
River Mine is underway. The R24 million plant (Cdn$4 million), designed and
being constructed by Chrome Tech (Pty) Ltd will treat Crocodile River`s
platinum group metals ("PGM") UG2 ore to reduce chromite levels in the
concentrate which is then sent to a third party for smelting and refining. PGM
refineries typically charge penalties for concentrate received which has in
excess of a 1.5% chromite content.
TWP Consulting ("TWP") has been sub-contracted to complete the detailed
process design and engineering, and will provide technical support during the
commissioning phases. The design for the extraction of chromite from the UG2
ore makes use of gravity separation via spirals and is based on existing
technology deployed in the mining and metallurgical industry. The plant is
being constructed using primarily local content which has resulted in an
economical design and rapid construction. The plant will be completed in two
phases, with commissioning of the first phase scheduled for November 2007 and
the second phase due for completion in December 2007. Modern control
technology combined with a sample preparation facility will also be
constructed to optimise output.
Ian Rozier, CEO of Eastplats, stated that, "The chrome recovery plant makes
good business sense. We currently pay approximately R5 million per month in
chrome penalties on our concentrate and by bringing chromite levels to within
the range acceptable to the smelters we will add this sum directly to our
bottom line."
Total shares issued and outstanding: 667,878,194
13 September 2007
For further information contact:
Investor Relations
Website: www.eastplats.com
Email: info@eastplats.com
#501-837 West Hastings Street,
Vancouver, BC, Canada, V6C 3N6
Tel: (604) 685-6851, Fax: (604) 685-6493
NOMAD:
Canaccord Adams Limited, London
Email: Robin.Birchall@canaccordadams.com
Clayton.Bush@canaccordadams.com
Tel: +44 (0) 20 7050 6500
JSE Sponsor: PSG Capital (Pty) Limited
Email:andreg@psgcapital.com
anjem@psgcapital.com
Tel: +27 21 887 9602
Date: 13/09/2007 15:05:44 Produced by the JSE SENS Department.
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