Eastplats Suspends Funding

Eastern Platinum Limited (TSX:ELR,LSE:ELR,JSE:EPS) announced it has decided to suspend funding for the ongoing development of the Mareesburg open pit mine and construction of the Kennedy’s Vale Concentrator Plant.

As quoted in the press release:

The Project was progressing according to the planned schedule and budget with initial commissioning planned for the first quarter of 2013. Civil works are largely complete and concrete work is well advanced. Almost all the necessary process equipment has been procured and received. Engineering is over 90% complete with construction about 20% complete. The overall project is 30% complete and a rapid restart of project construction could take place when conditions warrant.

Click here to read the Eastern Platinum Limited (TSX:ELR) press release.