Eastplats Loses 7 Cents a Canadian Share

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.

Click here to read the full Reuters report.