| Mon 14 Apr 2008, 11:36 | | EPS - Eastern Platinum - Eastplats Secures Four Di |
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EPS
EPS
EPS - Eastern Platinum - Eastplats Secures Four Diesel Power Generators Capable
Of Producing Over 23 MW
News Release
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
NEWS RELEASE : EASTPLATS SECURES FOUR DIESEL POWER GENERATORS CAPABLE OF
PRODUCING OVER 23 MW
Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("Eastplats")
reports that Eastplats has secured the rights to purchase four power generators
capable of producing over 23 MW of power.
The generators are Portac generators driven by deLaval Enterprise 16 cylinder
low speed engines that will be run on heavy fuel oil which is cheaper than
standard diesel. Upon conversion to 50Hz, each generator will produce 5.8 MW
for total delivered power capacity of 23.2 MW. The power units are almost new
with no more than 1100 hours on any one of the units.
The acquisition of these generators will ensure that Eastplats can proceed with
the timely development of the Crocette section at the Crocodile River Mine
("CRM") and the Spitzkop-Kennedy`s Vale development on the eastern limb of the
Bushveld despite the reduced power supply from the Eskom grid and power
disruptions that are expected to continue for up to four years.
"With our planned project development schedule and the uncertainty surrounding
the power supply situation in South Africa we felt it prudent to ensure a large
degree of self sufficiency and the purchase and commissioning of these power
units will achieve this", stated Ian Rozier.
Total shares issued and outstanding: 671,387,052
For further information contact:
Investor Relations
Website: www.eastplats.com
Email: info@eastplats.com
Tel: 1-(604)-685-6851, Fax: 1-(604)-685-6493
NOMAD: JSE Sponsor:
Canaccord Adams Limited, London PSG Capital (Pty) Limited,
Email: South Africa
Ryan.Gaffney@canaccordadams.com Email:anjem@psgcapital.com
Tel: +44 20 7050 6500 Tel: +27 21 887 9602
Certain statements included herein constitute "forward-looking statements"
within the meaning of applicable Canadian securities legislation. These forward-
looking statements are based on certain assumptions by Eastplats and Barplats
and as such are not a guarantee of future performance. Actual results could
differ materially from those expressed or implied in such forward-looking
statements due to factors such as general economic and market conditions,
increased costs of production and a decline in metal prices. Eastplats is under
no obligation to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as required by
applicable laws.
Date: 14/04/2008 11:36:01 Produced by the JSE SENS Department.
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