| Thu 20 Oct 2011, 13:05 | | EPS - Eastern Platinum Limited - NUM strike at JIC impacts CRM Operations |
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EPS
EPS
EPS - Eastern Platinum Limited - NUM strike at JIC impacts CRM Operations
EASTERN PLATINUM LIMITED
(Incorporated in Canada)
(Canadian Registration number BC0722783)
(South African Registration number 2007/006318/10)
Share Code TSX: ELR ISIN: CA 2768551038
Share Code AIM: ELR ISIN: CA 2768551038
Share Code JSE: EPS ISIN: CA 2768551038
October 20, 2011
Trading Symbol: ELR (TSX & AIM) EPS (JSE)
NEWS RELEASE
NUM STRIKE AT JIC IMPACTS CRM OPERATIONS
Eastern Platinum Limited ("Eastplats" or the "Company") reports that talks
between JIC Mining Services ("JIC") and the National Union of Mineworkers
("NUM") have not resulted in agreement between the parties. JIC is one of the
largest mining contractors in South Africa and, along with other companies,
provides selected contract mining services at the Crocodile River Mine ("CRM").
The employees of JIC have taken strike action and as a result, 756 JIC employees
working at CRM have joined the strike, which is peaceful.
While the strike action continues, production at CRM will be reduced by
approximately 50%, or approximately 210 ounces of PGM production per working
day. Eastplats understands that JIC and NUM are continuing to negotiate on the
unresolved issues. The Company is not involved in this dispute, but will provide
appropriate updates on the situation.
Total shares issued and outstanding: 908,187,807
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:
Bhavesh Patel
Canaccord Genuity Limited, London
Tel: +44 20 7050 6500
JSE SPONSOR:
Johan Fourie
PSG Capital (Pty) Limited
Email: johanf@psgcapital.com
Tel: +27 21 887 9602
No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Cautionary Statement on Forward-Looking Information
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 therefore,
readers are cautioned that forward-looking statements are not a guarantee of
future performance. There can be no assurance that such statements will prove to
be accurate and 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, changes in government legislation, controls,
regulations and political developments.
The Company disclaims any intention or obligation to update or revise any
forward-looking statements whether as a result of new information, future events
or otherwise, except to the extent required by applicable laws.
Date: 20/10/2011 13:05:01 Produced by the JSE SENS Department.
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