SOURCE: The Bedford Report

The Bedford Report

June 17, 2011 08:16 ET

Platinum Explorers Suffer From Oversupply

The Bedford Report Provides Equity Research on Eastern Platinum & Platinum Group Metals

NEW YORK, NY--(Marketwire - Jun 17, 2011) - Platinum stocks have been volatile this month following reports that global platinum supply will rise as the aftermath of the devastating earthquake that struck Japan lowers the country's auto production. The Bedford Report examines the outlook for companies in the Industrial Metals & Minerals Sector and provides investment research on Eastern Platinum Limited (TSX: ELR) (PINKSHEETS: ELRFF) and Platinum Group Metals Limited (NYSE Amex: PLG). Access to the full company reports can be found at:

Platinum is a primary component of catalytic converters in automobiles manufactured and sold in Europe and Japan, while palladium is used for the same thing in North America and China. A recent report from Bloomberg claims that half of Japanese platinum demand is devoted to the auto sector. The Bloomberg report says platinum supply could outpace demand by as much as five metric tons this year, compared with a surplus of 600 kilograms last year.

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Generally the price of Platinum correlates with shares of platinum producers. Platinum Group Metals Ltd is based in Vancouver BC, Canada and Johannesburg, South Africa. The company's main asset is a 74 percent interest in the WBJV Project 1 Platinum Mine where an initial construction budget of $100 million is in progress, including underground development. Platinum Group Metals is also in active exploration for platinum in Canada near Thunder Bay Ontario. During the six months ended February 28, 2011 the Company had a net loss of $8.06 million.

Last month Eastern Platinum Limited said operations resumed at its Crocodile River mine in South Africa and that it had reached a two-year wage agreement with the National Union of Mineworkers. The miner said that operations at the mine were "normalizing following the previously reported illegal sit-in by 155 employees, and an illegal strike by a further 480 employees."

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