Vancouver, British Columbia–(Newsfile Corp. – Could 14, 2021) – Japanese Platinum Restricted (TSX: ELR) (JSE: EPS) (“Eastplats” or the “Firm“) is happy to report that it has filed its condensed interim consolidated monetary statements and administration’s dialogue and evaluation for the three months ended March 31, 2021 (“Q1 2021”). Under is a abstract of the Firm’s monetary outcomes for Q1 2021 (all quantities in USD) compared to the identical interval in 2020 (“Q1 2020”):
Optimistic working capital (present property much less present liabilities) of $11.4 million as at March 31, 2021 (December 31, 2020 – $4.1 million); and
Internet loss attributable to shareholders decreased to $0.9 million (loss attributable to shareholders of $0.01 per share) in Q1 2021 versus a lack of $8.2 million (loss attributable to shareholders of $0.09 per share) in Q1 2020. The development is attributable to the continued income generated by the Retreatment Mission and the discount of a international change lack of $8.7 million in Q1 2020, which resulted from the numerous drop within the South African rand to the U.S. greenback in March 2020 on the backdrop of COVID-19.
The Firm continues its tailings remining operations producing chrome focus at Barplats Mines (Pty) Restricted tailings facility (the “Retreatment Mission“) positioned on the Firm’s Crocodile River Mine in South Africa (“CRM“).
Chrome restoration from manufacturing throughout Q1 2021:
Common grade of the
Tons of chrome
The latest completion of the reconfiguration and optimization of the small-scale platinum group metallic (“PGM“) circuit (“PGM Circuit D“) efficiently utilized the feed, following the restoration of chrome focus, to supply PGM concentrates beneath the respective offtake agreements in Q1 2021 (see press launch of Could 11, 2021).
The Firm’s CRM Retreatment Mission in South Africa operated with out restrictions following the momentary shut-downs of operations throughout the second quarter of 2020 on account of COVID-19. The Firm stays vigilant to proceed its excessive requirements with regard to sustaining secure operations.
Though the present outlook is optimistic as a result of diminished restrictions, all operations may very well be affected by new COVID-19 points or new lockdown directives in South Africa.
The Firm will replace its numerous forecasts for 2021 following the completion of the Optimization Program, timing of which is presently not identified. The results of COVID-19 are altering quickly and will have materials results on the Firm’s 2021 outlook and its potential to realize targets.
The completion timing of the Optimization Program stays unsure as a result of lockdown influence on journey and building rules and different COVID-19 associated points. Topic to adjustments on account of COVID-19 or different authorities directives the Firm will do its finest to ascertain an up to date schedule as quickly as sensible.
The Firm’s targets for 2021 have been up to date following the finished Rights Providing in January 2021, together with:
Reconfigure, optimize, and persistently function the small-scale PGM Circuit D, which additionally consists of funding for a few of the preliminary work required to restart the PGM Major Circuit (See press launch of February 2, 2021);
The Firm is actively progressing a number of income alternatives and exploring choices to make the most of or monetize different property.
The Firm has filed the next paperwork, beneath the Firm’s profile on SEDAR at www.sedar.com:
For additional info, please contact:
EASTERN PLATINUM LIMITED
Wylie Hui, Chief Monetary Officer
email@example.com (e mail)
(604) 800-8200 (cellphone)
Cautionary Assertion Concerning Ahead-Wanting Info
This press launch accommodates “forward-looking statements” or “forward-looking info” (collectively referred to herein as “forward-looking statements“) throughout the which means of relevant securities laws. Such forward-looking statements embrace, with out limitation, forecasts, estimates, expectations and aims for future operations which can be topic to plenty of assumptions, dangers and uncertainties, lots of that are past the management of the Firm. Ahead-looking statements are statements that aren’t historic information and are usually, however not at all times, recognized by the phrases “will”, “plan”, “intends”, “could”, “may”, “expects”, “anticipates” and comparable expressions. Additional disclosure of the dangers and uncertainties dealing with the Firm and different forward-looking statements are mentioned within the Firm’s most up-to-date Annual Info Type accessible beneath the Firm’s profile on www.sedar.com.
Particularly, this press launch accommodates, with out limitation, forward-looking statements pertaining to: forecast of operational exercise of the Retreatment Mission, estimated operations and manufacturing of PGM Circuit D and PGM Major Circuit; estimated ramp up or upgrades to the PGM Circuit D and PGM Major Circuit; potential extra income from the PGM Circuit D and PGM Major Circuit; potential results of COVID-19 comparable to a brand new lockdown imposed by the Authorities of South Africa; and any future measures taken by the Authorities of South Africa and their influence on the Firm, and its enterprise, operations, liquidity and cashflows. These forward-looking statements are based mostly on assumptions made by and knowledge presently accessible to the Firm. Though administration considers these assumptions to be affordable based mostly on info presently accessible to it, they might show to be incorrect. By their very nature, forward-looking statements contain inherent dangers and uncertainties and readers are cautioned to not place undue reliance on these statements as plenty of elements may trigger precise outcomes to vary materially from the beliefs, plans, aims, expectations, estimates and intentions expressed in such forward-looking statements. These elements embrace, however should not restricted to, unanticipated issues that will come up within the Firm’s manufacturing processes, commodity costs, decrease than anticipated grades and portions of sources, want for extra funding and availability of such extra funding on acceptable phrases, financial circumstances, forex fluctuations, competitors and rules, authorized proceedings and dangers associated to operations in international nations.
All forward-looking statements on this press launch are expressly certified of their entirety by this cautionary assertion, the “Cautionary Assertion on Ahead-Wanting Info” part contained within the Firm’s most up-to-date Administration’s Dialogue and Evaluation accessible beneath the Firm’s profile on www.sedar.com. The forward-looking statements on this press launch are made as of the date they’re given and, besides as required by relevant securities legal guidelines, the Firm disclaims any intention or obligation, and doesn’t undertake, to replace or revise any forward-looking statements, whether or not on account of new info, future occasions or in any other case.
No inventory change, securities fee or different regulatory authority has accepted or disapproved the data contained herein.
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
To view the supply model of this press launch, please go to https://www.newsfilecorp.com/release/84028