Production of platinum group metals (pgms) at Eastern Platinum was up 30 per cent year-on-year during the last quarter to 29,417 oz, the firm has announced.

The junior platinum producer's increased production, coupled with high prices for the white metal, helped it to narrow a loss of $2.2 million for the year-ago period to $1.4 million.

Revenue, meanwhile, climbed to $31.5 million from $22.7 million in the three months ended September 2006, with operating costs down to $637 per oz from $645 per oz.

Ian Rozier, Chief Executive Officer and President of Eastern Platinum, said: "Substantial progress continues to be made at Crocodile River mine and we are beginning to see the results of the extensive on and off reef development during the last year, which is integral in developing mineable reserves to support the ongoing production build up."

Canada-based Eastern Platinum directly and indirectly owns 85 per cent of the Crocodile River Mine on the Bushveld Complex and also holds interests in four other South African platinum development projects.

Source:

Eastplats narrows Sept quarter loss, sees progress at Crocodile River, 15/11/07
http://www.miningweekly.co.za/article.php?a_id=121315

Eastplats posts $10,2m loss 15/11/07
http://www.miningweekly.co.za/article.php?a_id=117479

Ÿ Adfero Ltd