Terms Extended for Crocodile River Platinum Group Metals Tailings Concentrate with Impala Platinum Limited
Terms Extended for Crocodile River Platinum
Group Metals Tailings Concentrate with
Impala Platinum Limited
Vancouver, British Columbia--(Newsfile Corp. - January 25, 2023) - Eastern Platinum Limited (
TSX:
ELR
) (
JSE: EPS
) ("
Eastplats
" or the "
Company
") is pleased to announce that the Terms For
Crocodile River Tailings Concentrate (the "
Agreement
") between Impala Platinum Limited ("
Impala
"), a
subsidiary of Impala Platinum Holdings Limited ("
Implats
"), and Barplats Mine (Pty) Ltd, a wholly owned
subsidiary of Eastplats, signed on September 29, 2020 for delivery of platinum group metals ("
PGM
")
tailings concentrate to Impala has been extended. All terms and conditions as provided for in the
Agreement will remain as is up to and including December 21, 2023.
Wanjin Yang, Chief Executive Officer and President of Eastplats, commented, "We are excited to
continue to work with Impala on this project. We are targeting to restart the Zandfontein underground
section to extract high-grade PGMs in 2023, which is already under an off-take agreement with Impala."
About Implats
Implats is a leading producer of PGMs, with six mining operations and a toll refining business, Impala
Platinum Limited. Its mining operations span the Bushveld Complex in South Africa, the Great Dyke in
Zimbabwe and the Canadian Shield, and include Impala Rustenburg, Zimplats, Marula, Impala Canada's
Lac des Iles, Mimosa and Two Rivers. The Group's head office is located in Johannesburg, South Africa.
www.implats.co.za
About Eastern Platinum Limited
Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South
Africa. All of the Company's properties are situated on the western limb of the Crocodile River Mine and
eastern limb of Kennedy's Vale, Spitzkop and Mareesburg projects within the Bushveld Complex, the
geological environment that hosts approximately 80% of the world's PGM-bearing ore.
Operations at the Crocodile River Mine currently include re-mining and processing its tailings resource
to produce PGM and chrome concentrates from the Barplats Zandfontein tailings dam.
www.eastplats.com
For further information, please contact:
EASTERN PLATINUM LIMITED
Wylie Hui, Chief Financial Officer and Corporate Secretary
(email)
(604) 800-8200 (phone)
Cautionary Statement Regarding Forward-Looking Information
This press release contains "forward-looking statements" or "forward-looking information" (collectively
referred to herein as "
forward-looking statements
") within the meaning of applicable securities
legislation.
Such forward-looking statements include, without limitation, forecasts, estimates,
expectations and objectives for future operations that are subject to a number of assumptions, risks and
uncertainties, many of which are beyond the control of the Company.
Forward-looking statements are
statements that are not historical facts and are generally, but not always, identified by the words "will",
"plan", "intends", "may", "could", "expects", "anticipates" and similar expressions. Further disclosure of
the risks and uncertainties facing the Company and other forward-looking statements are discussed in
the Company's most recent Annual Information Form available under the Company's profile on
www.sedar.com
.
In particular, this press release contains, without limitation, forward-looking statements pertaining to
successful restart of the Zandfontein underground section to extract high-grade PGMs in 2023. These
forward-looking statements are based on assumptions made by and information currently available to
the Company.
Although management considers these assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect.
By their very nature, forward-looking
statements involve inherent risks and uncertainties and readers are cautioned not to place undue
reliance on these statements as a number of factors could cause actual results to differ materially from
the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking
statements.
These factors include, but are not limited to, unanticipated problems that may arise in our
production processes, commodity prices, lower than expected grades and quantities of resources, need
for additional funding and availability of such additional funding on acceptable terms, economic
conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to
operations in foreign countries.
All forward-looking statements in this press release are expressly qualified in their entirety by this
cautionary statement, the "
Cautionary Statement on Forward-Looking Information
" section contained in
the Company's most recent Management's Discussion and Analysis available under the Company's
profile on
www.sedar.com
.
The forward-looking statements in this press release are made as of the date
they are given and, except as required by applicable securities laws, the Company disclaims any
intention or obligation, and does not undertake, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise.
No stock exchange, securities commission or other regulatory authority has approved or
disapproved the information contained herein.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/152371