| Thu 27 Oct 2011, 8:17 | | EPS - Eastern Platinum Limited - JIC and NUM reach settlement |
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EPS
EPS
EPS - Eastern Platinum Limited - JIC and NUM reach settlement
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 26, 2011
Trading Symbol: ELR (TSX & AIM) EPS (JSE)
NEWS RELEASE
JIC AND NUM REACH SETTLEMENT
Eastern Platinum Limited ("Eastplats") is pleased to report that the dispute
between JIC Mining Services ("JIC") and the National Union of Mineworkers
("NUM") has been resolved and the NUM strike action as reported on October 20,
2011 has been terminated. The majority of the 756 JIC employees working at the
Crocodile River Mine ("CRM") have returned to work as of today`s shift and full
attendance is expected on Thursday October 27, 2011. Eastplats expects full
production at CRM to resume as from that date.
Following the resignation of Wayne Robinson, Managing Director of Barplats
Mines, as announced on October 25, 2011, the Company has put in place a number
of initiatives to provide appropriate ongoing executive and operational
management in South Africa.
A transition and hand-over will occur prior to Mr. Robinson`s departure in
December 2011 and the Company does not expect this to affect operations and
production. In addition to internal senior management, John Andrews (Director)
and Ian Rozier (CEO) will be spending substantially more time at CRM and in
Johannesburg respectively, until a replacement is selected. Both Mr. Rozier and
Mr. Andrews are mining engineers with considerable South African underground
mining experience.
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: 27/10/2011 08:17:05 Produced by the JSE SENS Department.
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