Canada's Eastern Platinum Q1 revenue falls, net loss narrows

Eastern Platinum

14/05/2026 22:28

Overview

Canada PGM and chrome miner's Q1 revenue fell 6.8% yr/yr

Mine operating income turned positive, gross margin improved to 4.8%

Net loss narrowed, mainly due to lower production costs at Crocodile River Mine

Outlook

Company continues to focus on operational efficiencies to improve PGM and chrome production

Company expects PGM concentrate sales to remain majority of revenue as CRM production ramps up

Result Drivers

PROCESSING SHIFT - Improved mine operating income and gross margin driven by transition from tailings to ROM UG2 ore at Crocodile River Mine

LOWER PRODUCTION COSTS - Reduced net loss attributed to lower production costs at Crocodile River Mine

LOWER THAN TARGETED TONNAGES - CEO said ROM processing tonnages at Crocodile River Mine were lower than targeted in Q1

Company press release: ID:nCNWCGdfSa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$13.80 mln
Q1 Net Income
-$4.10 mln
Q1 Gross Margin
4.80%
Q1 Mine Operating Income
$700,000


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)