Canada's Eastern Platinum Q2 net loss widens on lower sales, higher costs

Eastern Platinum

14/08/2026 24:01

Overview
Canada PGM and chrome miner's Q2 revenue fell 26% yr/yr amid lower sales and higher costs
Q2 net loss widened to $6.1 mln, driven by decreased sales and higher production costs
Gross margin for Q2 dropped to -53% from 3% a year earlier

Outlook
Company says it will focus on operational efficiencies to improve PGM and chrome production

Result Drivers
LOWER PGM SALES - Co said revenue decline was mainly due to decreased platinum-group-metal sales at Crocodile River Mine
HIGHER PRODUCTION COSTS - Co attributed wider loss and lower margin to increased production costs at CRM
LOWER PROCESSING TONNAGES - Interim CEO cited lower-than-targeted run-of-mine processing tonnages at Crocodile River Mine as a challenge

Company press release: ID:nCNW8n4Qja

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$7.9 mln
 
Q2 Net Loss
 
$6.1 mln
 
Q2 Gross Margin
 
-53%
 
Q2 Mine Operating Income
 
-$4.2 mln
 

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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.)