Eastern Platinum has said its long-term prospects are positive following its full-year financial results.

The company believes that its Crocodile River Mine has a large reserve base which will provide the firm with a strong foundation for its future development, Forbes reports.

In a statement, Eastern Platinum said that its increased interest in Barplats to 85 per cent together with excellent drilling results at its Spitzkop operation put the company in a strong position to deliver good results into the 2007/08 year.

Eastern Platinum reported a widening loss of $10.27 million compared with $3.88 million the previous year, but has pinned its hopes for future success on the major increase in the underground development at its Crocodile River Mine.

Earlier this month, the platinum mining junior reported it would begin mine development at the Crocette section of Crocodile River Mine.

Source:

Eastern Platinum says FY net loss widens, but 'extremely' positive about future, 24/09/07
http://www.forbes.com/markets/feeds/afx/2007/09/24/afx4147663.html

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