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Eastern Platinum (“Eastplats” or the “Company”) is pleased to report it has filed its Q2 2017 unaudited condensed interim consolidated financial statements and management discussion and analysis for the three and six-month period ended June 30, 2017. Below is a summary of our financial results for the period (all amounts in USD). Net loss for the …
Eastern Platinum (“Eastplats” or the “Company”) is pleased to report it has filed its Q2 2017 unaudited condensed interim consolidated financial statements and management discussion and analysis for the three and six-month period ended June 30, 2017. Below is a summary of our financial results for the period (all amounts in USD).
- Net loss for the six months ended June 30, 2017, under new management, was $4.7 million (loss of $0.04 per share) compared with a net loss of $30.5 million (loss of $0.29 per share) for the same period in 2016;
- Cash and short-term investments of $25.0 million and working capital of $26.3 million at June 30, 2017;
- Mineral properties maintained their fair value less cost to sell, and no impairment was required, although impairment indicators existed at June 30, 2017;
- Net operating cash flows used during the six months ended June 30, 2017, $3.9 million; and
- Development work during the six months ended June 30, 2017 was $0.4 million.