Eastern Platinum has announced increased production of platinum group metals for the first quarter of 2008.

The average mining rate increased to 93,012 tonnes per month during quarter one of 2008, increasing from 70,610 tonnes per month in the same period last year.

Total underground mining development increased by 20 per cent to 4,409 metres during the first quarter as the firm expanded its ore reserve.

"Despite power interruptions and ongoing reductions in power supply during the first quarter, our PGM production increased compared to the quarter ended December 31, 2007," said Ian Rozier, President and Chief Executive Officer.

Financial results were also positive for the firm as revenues from the Crocodile River Mine increased by 80 per cent to $56,408,000.

Mr Rozier said that underground development and mining rates had improved along with sustained platinum group metals prices.

He said Eastern Platinum was looking to continue the development seen at the Crocette Section of the Crocodile River Mine.

"We have also commenced underground development at the Crocette Section at CRM as well as at our Spitzkop property on the eastern limb and plan on bringing them into production as quickly as possible in order to take advantage of the high PGM prices," he explained.



Source:

Eastern Platinum Reports Record Earnings For The Three Months Ending March 31, 2008, 15/05/08
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