Jun 22nd 2012 - Edison Investment Research today published a report on Eastern Platinum (ELR.L, LSE:ELR, LON:ELR) entitled "Projects Update". In summary, the report says:
A rapid deterioration in PGM market conditions has forced Eastplats to undertake a detailed review of its operations. As a result, the management decided to postpone the development of the Mareesburg/Kennedy’s Vale project on the eastern limb as well as to adjust the mine plan for the existing CRM operation. While this move will lead to lower PGM production in 2012-13, it should help the company to weather the market downturn while maintaining a strong balance sheet and preserving the value of its in-situ resource. The company plans to give production and cost guidance in mid-July. We suspend our valuation awaiting more details from the company.
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