Eastern Platinum achieved record pgm output at its Crocodile River Mine (CRM) facility during the fourth quarter of 2009, it emerged yesterday (14th January).

The junior miner confirmed that 34,000 oz were produced in the three-month period, which represented a 13 per cent quarterly increase and a 17 per cent rise on a year-on-year basis.

Furthermore, the company enjoyed production of 130,338 oz for the 2009 financial year, which was 11 per cent higher than the figure of 117,909 oz for the previous 12 months.

"After a very disruptive third quarter, we recovered extremely well to achieve a record quarterly production in the fourth quarter," commented CEO Ian Rozier.

"The quick production ramp-up reflects the extensive on and off-reef development carried out during the past 12 months, despite adverse market conditions."

Mr Rozier added that it will continue to sustain its 18-month mining reserves at CRM, with production at the South African site expected to increase further in 2010.

Earlier this week, Eastern Platinum confirmed that it has recommenced work to develop the Crocette section of the mine - which was halted in 2008 - due to improving pgm prices.

Source:

Eastplats reports record Q4 output at Crocodile River (14/01/10)

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