Eastplats interim results June 2019
Revenue for the interim period was recorded at USD15.8 million (2018: nil), mining operating income came to USD2.8 million (2018: nil) and operating loss narrowed to USD2.2 million (2018: USD4.9 million). Net loss for the period attributable to equity shareholders of the Company lessened to USD240 000 (2018: USD4.1 million). Furthermore headline loss per share improved to USD1 cent per share (2018: headline loss of USD5 cents per share).
The Company seeks to ensure the Retreatment Project is brought into full operations, which was estimated to occur in July 2019 but now expected to occur in Q3 2019. Once achieved, the Company plans to announce its production targets for the following year. The Company believes that it will make a definitive decision with respect to PGM recovery by the end of Q3 2019.
The Company's targets for the remainder of 2019 include:
*Retreatment Project ramp-up to full production during Q3 2019;
*Assessment and decision regarding the PGM recoverability opportunities in relation to the tailings resource;
*Assessment and decision regarding Mareesburg project; and
*Assessment and discussions regarding the CRM Zandfontein underground operations.
The Company is actively looking at opportunities for its other assets and exploring options to utilize or monetize these assets.
The Company has filed the following documents, under the Company's profile on SEDAR at www.sedar.com:
*Condensed interim consolidated financial statements for the three and six months ended June 30, 2019; and
*Management's discussion and analysis for the three and six months ended June 30, 2019.