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Reuters reported Eastern Platinum (TSX:ELR,LSE:ELR) reported a loss of C$64 million for the fourth quarter of 2011 on lower sales and production.
Reuters reported Eastern Platinum (TSX:ELR,LSE:ELR) reported a loss of C$64 million for the fourth quarter of 2011 on lower sales and production.
As quoted in the market news:
For the fourth quarter, the company posted a loss of C$64 million, or 7 Canadian cents a share, compared with net earnings of C$5 million, or 1 Canadian cent a share, in the year-ago period.
The company, which produces platinum group metals (PGM) that include platinum, palladium and rhodium, said PGM ounces sold fell 39 percent to 19,854 in the quarter.