Eastern Platinum TSX:ELR Stock Report

Second quarter 2022 earnings released: EPS: US$0.009 (vs US$0.03 in 2Q 2021)

Second quarter 2022 results: EPS: US$0.009 (down from US$0.03 in 2Q 2021). Revenue: US$20.5m (up 2.5% from 2Q 2021). Net income: US$1.21m (down 71% from 2Q 2021). Profit margin: 5.9% (down from 21% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth.

Eastern Platinum Limited Promotes Hannelie Hanson to Chief Operating Officer

Eastern Platinum Limited announced the promotion of Hannelie Hanson to Chief Operating Officer ("COO") from General Manager, South Africa Operations of the Company. Ms. Hanson has over 24 years of experience in mining as a technical specialist and a strategic leader. She heads up the operations and projects in South Africa and drives proper planning, accountability, optimization & innovation, communication, and development of people while executing the expansion plans at Eastplats, including the restart of Zandfontein underground operations. Ms. Hanson graduated from Stellenbosch University with a BSc (Hons) in Geology in 1998, and also holds an MEng degree in Mining Engineering from Wits and an MBA at the University of Cape Town. Her career in mining started at Lorraine Gold Mine in the Free State, and she was the custodian of Mine Technical Services departments at two mines. Prior to joining Eastplats in 2012, Ms. Hanson held the position of Senior Manager (Technical Services) for six years with Lonmin, having started there as a graduate geologist in 1999 and being promoted into projects and planning before heading up the Technical Services department.

High number of new directors

Director Lisa Ng was the last director to join the board, commencing their role in 2022.

Eastern Platinum Limited Appoints Wanjin Yang as Chief Executive Officer