Eastern Platinum Limited, also known as Eastplats, has announced the grant of 4,190,000 stock options. These options have been distributed to the company’s directors, officers, and employees. The options will vest in 90 days and are set to expire on July 2, 2029.
Company Overview
Eastplats owns several platinum group metals (PGM) and chrome assets in South Africa. These assets are located on the western and eastern limbs of the Bushveld Complex. This geological environment contains approximately 80% of the world’s PGM-bearing ore.
Operations at Crocodile River Mine
The Crocodile River Mine is a significant part of Eastplats’ operations. Current activities at the mine include re-mining and processing tailings from the Barplats Zandfontein tailings dam. The mine also processes ore from the Zandfontein underground section to produce PGM and chrome concentrates.
Details of the Stock Options Grant
The newly granted stock options are part of Eastplats’ strategy to incentivize and retain its key personnel. Each option allows the holder to purchase one common share of Eastplats at an exercise price of CDN$0.20.
| Stock Options Details | Figures |
|---|---|
| Number of Options | 4,190,000 |
| Vesting Period | 90 days |
| Term | 5 years |
| Expiry Date | July 2, 2029 |
| Exercise Price | CDN$0.20 per share |