Eastern Platinum is targeting the production of 530,000 oz of platinum group metals by the end of 2012, but is still only regarded as an explorer.

It is expected to produce 128,500 oz of platinum group metals (PGMs) this year through its Crocodile River mine but it is not rated better due to strong commodity prices, Mining MX reports.

Ian Rozier, Chief Executive Officer, told the RBC Capital Markets platinum conference in London in May that the risk in the company was being reduced.

But RBC Capital Markets said it was a junior taking advantage of the record metal price environment, although it did say it held Eastern Platinum in a positive light.

The firm could also be on the takeover list of Xstrata Platinum, which recently purchased property near to the Crocodile River mine.

But Eastern Platinum currently has a 'shareholders rights plan' in place to allow it more time to negotiate an offer should one come to the table.


Source:
Eastplats may be JSE's next platinum 'sleeper', 09/07/08
http://www.miningmx.com/platinum/652718.htm