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Eastern Platinum's new board starts review of Crocodile River mine acquisition

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Eastern Platinum's new board starts review of Crocodile River mine acquisition

EasternPlatinum Ltd.'s new board, elected in its July 5 annual general meeting, isreviewing the recently completed acquisition of the platinum minein South Africa, and other interests.

According to a July 7 statement, the transaction wascompleted by the previous management, as part of the of Eastplats' South Africanunit Barplats MinesLtd. by China's Hebei Zhongheng Tianda Platinum Co. Ltd.

Following a successful campaign by dissident shareholders, anew board comprising Peter Clausi, Michael Cosic, George Dorin, DouglasPerkins, George Pirie and Sam Wang was elected. All of the directors werenominated by the company's 13.79% shareholder, Ka An Development Co. Ltd.

Eastern Platinum's new management is investigating theactions of former management and trying to gain access to the books and recordsof the company, and documentation relating to the acquisition, the statementadded.