Eastern Platinum’s Third Quarter Loses More

Mining Weekly reported Eastern Platinum (TSX:ELR,LSE:ELR) lost more in the third-quarter on lower prices and lowered production.

As quoted in the market news:

The Vancouver-based company, which is focused on mining platinum-group metals (PGMs) in South Africa’s Bushveld Igneous Complex (BIC), recorded a loss attributable to shareholders of $5-million or 1c a share in the quarter ended September 30, compared with earnings of $1.36-million or nil cents a share in the comparable quarter in 2011.

Production declined to 21 273 oz in the quarter, down 5 139 oz on the 26 412 oz produced in the previous quarter, and 5 682 lower than the comparable period of 2011.

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