Eastern Platinum revealed yesterday (12th May) that pgm production at its Crocodile River Mine (CRM) declined during the first quarter of 2010.

Output at the South African facility reached 30,531 oz over the course of the three-month period, a drop of seven per cent from the 32,969 oz recorded in Q1 2009.

According to the company, the lower figure can largely be attributed to the start-up following the December holiday season being much slower than expected.

"The slow start to 2010 affected all aspects of our operations," commented President and Chief Executive Ian Rozier.

"However, our mining rates have since picked up to normal levels and this together with pgm prices trending higher, should put us on track for a more profitable second quarter."

Mr Rozier also noted that Q1 2009 pgm production had been boosted by the processing of about 25,000 tonnes of ore which had been stockpiled at the end of 2008.

A similar approach was not followed in Q3 and Q4, mainly due to the industrial action which took place at CRM in July 2009.

The company's latest figures also revealed that concentrator head grade increased from 4g/t to 4.1g/t, while average concentrator recovery slipped from 80 per cent to 78 per cent.

Eastern Platinum was formed in 2003 and is currently the largest pgm producer in Canada.

Sources:

Eastplats still mulling ways to reinitiate mothballed projects (12/05/10)

Eastern Platinum Reports Results for the Three Months Ended March 31, 2010 (12/05/10)

Eastern Platinum Q1 profit falls on lower production (12/05/10)

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