Eastern Plat Share Discussion Threads

[doobydave] 09/1/2007 12:32

Compliments of the season to you too, Rambutan.

In answer to your question - not on your life!! I had him saved to favourites as a gold commentator from days of yore, so thought I'd pay him a rare e-visit out of curiosity.

Incidentally, I can't remember whether you have a holding in Landore? Worth a look if you're not familiar.
DD

[rambutan2] 09/1/2007 09:17

dd, you planning on moving to califoria and putting your great wealth in the hands of mr gerbino!

wishing you a prosperous (and happy) 2007

regards
rambutan

[doobydave] 09/1/2007 07:12

I stumbled upon nice little article by chance and am mainly referencing it for newcomers because it's such a succinct (if basic) summary of the platinum situation. However, I notice Ken Gerbino & Co have a holding in Eastplats - new to me.
DD

[rambutan2] 20/12/2006 17:32

dd, agree with you re "planned" increase in bushveld pgms. but no doubt some of those fond imaginings will hit snags of many varieties.

JOHANNESBURG (I-Net Bridge) -- Anooraq Resources [AMEX:ANO; TSXV:ARQ; JSE:ARQ], the black-empowered platinum explorer, officially began trading on the JSE Tuesday, with management already touting fundraisings and acquisitions in the future.

[doobydave] 18/12/2006 22:00

We have company. Hello tee man and welcome.

The news I expect to make a difference will be H1 results - although we've only just had Q1. I would think the next quarter will see appreciable profit at CRM . (Edit: mine upgrades are ongoing and we may not see the full benefit until Q4).

The bit I most liked today was the expected news that the underground conveyor had been installed at Zandfontein, and is already achieving 'a significant reduction in operating costs'. It would interesting to know what 'significant' is in percentage terms but whatever % it is should drop straight to the bottom line.

There is an article on ELR tonight on Resource Investor . It points out that (annualised) Q1 production was 64,800tpm. The 2007 target is 180,000tpm (maximum processing plant capacity). All seems on track. If they can triple production whilst reducing operating costs, ELR won't go on being ignored indefinitely.

The other news that might make a difference is the BFS at Mareesburg (underway). I'm not sure how much work the company still has to do to complete it and it may be more medium term news than short term.

All IMHO.
DD

[tee man] 18/12/2006 21:33

Not that news makes any difference to this share


Eastern Platinum has announced that it is targeting its original planned production levels of 40,000 tonnes per month at its Crocodile River Mine (CRM) operations.

The platinum miner has revealed that it has been granted a new order mining right by South Africa's department of minerals and energy to Barplats' operating property, meaning it is now able to up its production levels to those first forecast by Eastern Platinum.

Therefore, Eastern Platinum believes that it can now up its output to 40,000 tonnes of platinum for the next nine months, with the aim to continue scaling up the operation until it reaches steady production of 180,000 tonnes per month.

Ian Rozier, chief executive of Eastern Platinum and Barplats chairman, said: "The granting of the new order right will enable management to continue to rapidly increase production levels at CRM. The mine's processing plant is already positioned for the build up to full production and we can now see our way clear to achieving this."


w.platinum.matthey.com/media_room/1166443208.html

[doobydave] 18/12/2006 09:53

Yes, A good resume.

My first concern about Eastplats is the number of enemies Rozier might have made.

My second concern is the number of players in the Bushveld arena who are planning to accelerate production over the next five years (your interest Platmin being one), and what supply v demand will mean for PGE basket price over that period. Next year should be fine - certainly if Johnson Matthey are right about platinum supply being in balance. 2008 we can only guess at.

I would think 2007 will be pretty decent for Eastplats, assuming success of the CRM upgrades.

[rambutan2] 17/12/2006 20:45

good summing up of much of above...

[rambutan2] 14/12/2006 01:01

likewise, they dropped it all the way back down on the only trades since - two sells.


just keeping an eye any happenings (and prices paid) on the eastern limb...




and bushveld in general...

[rambutan2] 11/12/2006 11:53

wow, a 20k buy at 64.5p on aim. most likely a pi buying for their isa. mms won't play ball and tick up on any buy despite supposed 15k nms.

[rambutan2] 04/12/2006 10:26

thanks DD, look good to me.


so, we've now got a london rep, which is a good thing, although i have my doubts about mr roberts having followed other companies he's been on the board of...

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 4, 2006) - Mr. Ian Rozier, President and CEO of Eastern Platinum Limited ("the Company") (TSX:ELR)(AIM:ELR), is pleased to announce that following the Company's Annual General Meeting held on November 22, 2006, Mr. John Merfyn Roberts (56) of London, England has been appointed to the Board of Directors...

[doobydave] 04/12/2006 09:11

All constructive comments on the header material welcome.
DD

[doobydave] 04/12/2006 07:48

New thread substantially complete:

[doobydave] 28/11/2006 00:11

Agree re. A Warrants. Bit late for me but they look pretty interesting, esp. after a 7% fall on low volume. Mind you, on the 3m graph they fell to circa 25c in late September. Tempted?

[rambutan2] 27/11/2006 23:02

came across this, with a barplats mention...


dd,
the A wrts in canada look a good punt to me.

[doobydave] 27/11/2006 15:54

Well, it took me a while, but I've today picked up some more. The interesting bit was the AIM v TSX price and market depth.

I sold my TSX listed Anatolia Minerals to pick up an equivalent volume of ELR. Making enquiries of my broker (Natwest), I'm told the AIM ask was 62p to buy with a 7p spread. All they could sell me was 15,000 shares and then I'd have cleaned the market out. Simply no more avaliable.

On TSX, I picked up all I wanted for $1.24-$1.25. No problems at all that end. The currency conversion rate was CAN:GBP 2.24:1. You can do the maths.

I suspect there is still a substantial seller in Canada but there is clearly still a huge opportunity to be had here. Not riskless, but then, very little that's worthwhile ever is.
DD

[rambutan2] 27/11/2006 14:06

of course, as/if US$ goes down, pgms will rise, and i can't believe that mr rozier will keeping more cash than he has to in US$ in the elr bank account...

Currency Exchange Rates

Approximately 90% of the Company's production and development costs are denominated in South African Rand ("ZAR") and therefore the Company is exposed to fluctuations in both Canadian and US exchange rates. With 100% of our production revenue being US dollar based (on a Canadian dollar, Canadian GAAP reporting basis), the Company is exposed to exchange rate fluctuations. As the Company does not hedge any transactions, it is inherently exposed to the devaluation of both the US dollar and the ZAR over the reporting quarter (and remains exposed to future fluctuations in currency exchange rates to the ZAR).

Foreign currency denominated monetary assets and liabilities are translated at the period-end exchange rate. Gains and losses arising from foreign currency translation are recognized in the statement of operations and deficit. The Company operates in two functional currencies, the Canadian dollar and ZAR. Translation gains or losses on the consolidation of the financial statements of self-sustaining operations are accumulated in the currency translation account ("CTA") on the consolidated balance sheet. Translation adjustments arise as a result of fluctuations in foreign currency exchange rates. The currency translation adjustment for this quarter resulting from the 6% weakening of the ZAR to the Canadian dollar, resulted in an adjustment of $25 million to be recorded in the CTA as a result of translating the Barplats financial statements.

To view accompanying graph, please click on the following link:

[doobydave] 27/11/2006 13:51

Certainly should do - EBITDA of $4,548,000, compared to a loss of $766,000 a year ago. Not to be sneezed at.

Mind you, better spend it quick if it's denominated in US$.
DD

[rambutan2] 27/11/2006 13:30

strange how canada only today effectively getting the first quarter report released on rns on 15th. although did go to sedar that day.

perhaps mr rozier surprised at lack of response and so having a shout in canada? will be interesting to see if gets a response when tsx opens.

[tee man] 27/11/2006 09:47

EASTERN PLATINUM REPORTS RECORD FIRST QUARTER
PRODUCTION AND NEW ORDER RIGHTS ISSUED

[mr ashley james] 21/11/2006 04:00

Rambutan please will you email me on [e-mail]

Cheers

Ash:)