08:04 AM EDT, 03/31/2025 (MT Newswires) -- Eastern Platinum ( ELRFF ) said over the weekend that it swung to a net loss in the fourth quarter.

The company posted an attributable net loss of US$11.9 million, or US$0.05 loss per share, reversing the year-ago net income of US$3.3 million, or US$0.02 earnings per share.

Eastern Platinum ( ELRFF ) attributed the decline to lower third-party chrome concentrate sales during the period.

Revenue sank 44.3% to US$17.0 million from US$30.5 million.

"We are confident that [platinum group metals] and chrome prices will rebound in 2025, which will help us achieve profits again," President and CEO Wanjin Yang said.

Eastern Platinum ( ELRFF ) also outlined its 2025 targets, including ramping up and confirming capital plans to support th reopening of the Zandfontein underground operations in South Africa. If successful, the company expects its platinum group metals and chrome production to increase in 2025.

The company's share price fell 3.2% on Friday to $0.15 on the TSX.