Eastern Platinum Limited reported $7.9 million in revenue for the second quarter of 2026, dropping 25.8% from $10.7 million in the same period of 2025 as processing tonnages fell short of targets at the Crocodile River Mine in South Africa.

The drop in platinum-group-metal sales and higher production costs pushed mine operating income down by $4.6 million to a loss of $4.2 million for the quarter, resulting in a gross margin of -53%. Operating loss widened to $7.9 million from $3 million in the second quarter of 2025.

Net loss attributable to equity shareholders expanded to $6.1 million, or $0.03 per share, compared to a net loss of $1.8 million in the prior-year period. Total run-of-mine feed for the quarter reached 51,160 tons, yielding 14,921 tons of chrome concentrate and 4,356 ounces of PGM from 810 tons of PGM concentrate. PGM production decreased from 6,781 ounces in the second quarter of 2025.

As of June 30, 2026, Eastplats recorded a working capital deficit of $67.9 million and short-term cash resources of $362,000.

Eastplats is targeting 70,000 tonnes of run-of-mine ore per month at the Zandfontein underground section by the end of 2026.

"We had a challenging second quarter as monthly run-of-mine processing tonnages at the Crocodile River Mine were lower than targeted. We will continue to focus on operational efficiencies to improve PGM and chrome production."

— Charlie Liu, Interim Chief Executive Officer and President

Read the full announcement: EASTERN PLATINUM LIMITED REPORTS RESULTS FOR THE SECOND QUARTER OF 2026