{"id":8628,"date":"2012-03-07T02:56:55","date_gmt":"2012-03-07T00:56:55","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-2-eastplats-posts-loss-on-impairment-charge-shares-fall\/"},"modified":"2012-03-07T02:56:55","modified_gmt":"2012-03-07T00:56:55","slug":"update-2-eastplats-posts-loss-on-impairment-charge-shares-fall","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-2-eastplats-posts-loss-on-impairment-charge-shares-fall\/","title":{"rendered":"UPDATE 2-Eastplats posts loss on impairment charge; shares fall"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Q4 loss C$0.07 vs EPS C$0.01 last year<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Says impairment charge on flagship mine hurt operations<\/p>\n<p><span><\/span><\/p>\n<p>* Shares fall 9 percent<\/p>\n<p><span><\/span><\/p>\n<p>By Arnav Sharma<\/p>\n<p><span><\/span><\/p>\n<p>March 6 (Reuters) &#8211; Eastern Platinum<br \/>\nposted a quarterly loss as the company took an impairment charge<br \/>\non the value of its flagship Crocodile River mine in South<br \/>\nAfrica, sending the Canadian miner&#8217;s shares down as much as 9<br \/>\npercent.<\/p>\n<p><span><\/span><\/p>\n<p>The company said it took a charge of C$46.3 million in the<br \/>\nquarter as it determined that the carrying value of the mine<br \/>\nexceeded the expected net present value of its future cash<br \/>\nflows.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;The loss was almost due to the write-down of the value of<br \/>\ntheir (Eastplats) Crocodile River mine assets in South Africa,&#8221;<br \/>\nCanaccord Genuity analyst Damien Hackett told Reuters.<\/p>\n<p><span><\/span><\/p>\n<p>High labor and electricity costs and unfavorable foreign<br \/>\ncurrency have hurt metal producers like Eastplats in South<br \/>\nAfrica, Hackett said.<\/p>\n<p><span><\/span><\/p>\n<p>Analysts have grown increasingly pensive about the South<br \/>\nAfrican precious metals industry, as returns remain at<br \/>\nhistorically low levels partly due to rising capital costs.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Q4 loss C$0.07 vs EPS C$0.01 last year * Says impairment charge on flagship mine hurt operations * Shares fall 9 percent By Arnav Sharma March 6 (Reuters) &#8211; Eastern Platinum posted a quarterly loss as the company took an impairment charge on the value of its flagship Crocodile River mine in South Africa, [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8628","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8628"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8628\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}