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The latest update is out from Eastern Platinum ( (TSE:ELR) ).
Eastern Platinum Limited reported a significant decline in financial performance for the fiscal year 2024, with revenue dropping by 41.5% to $62.5 million and a net loss of $12.8 million, primarily due to decreased sales of chrome concentrate and lower gross margins from its Crocodile River Mine operations. The company faced operational challenges as it transitioned from its Retreatment Project to underground mining, but remains optimistic about a rebound in PGM and chrome prices in 2025, which could improve profitability.
More about Eastern Platinum
Eastern Platinum Limited operates in the mining industry, focusing on the production of chrome concentrate and platinum group metals (PGM) concentrate. The company generates the majority of its revenue from chrome concentrate sales and has a PGM offtake agreement with Impala Platinum Limited.
YTD Price Performance: 10.71%
Average Trading Volume: 49,468
Technical Sentiment Signal: Buy
Current Market Cap: C$31.39M
For an in-depth examination of ELR stock, go to TipRanks’ Stock Analysis page.