EASTERN PLATINUM LIMITED ANNOUNCES CYBERSECURITY INCIDENT
VANCOUVER, BC, June 16, 2025 /CNW/ – On May 27, 2025, Eastern Platinum Limited (TSX: ELR) (JSE: EPS) ('Eastplats') detected a cybersecurity incident affecting its internal IT systems.
Upon detection, Eastplats took immediate containment measures to protect its network and data. Eastplats has since been working with cybersecurity experts to thoroughly investigate the incident's scope and undertake necessary remedial action.
Importantly, Eastplats' business operations have continued without disruption. Certain files related to its internal affairs were disclosed without authorization by third parties on a restricted part of the internet. Eastplats is actively reviewing these files to ensure ongoing compliance with its legal obligations and to safeguard its commercial interests.
Eastplats' priorities include the protection and continuous enhancement of its data security and systems. This incident has been reported to the appropriate authorities and Eastplats is committed to maintaining the trust and confidence of its stakeholders.
About Eastern Platinum Limited
Eastplats owns directly and indirectly a number of PGM and chrome assets in the Republic of South Africa. All of the Company's properties are situated on the western limb (Crocodile River Mine) and eastern limb (Kennedy's Vale, Spitzkop, Mareesburg) of the Bushveld Complex, the geological environment that hosts approximately 80% of the world's PGM-bearing ore.
Operations at the Crocodile River Mine currently include mining and processing ore from the Zandfontein underground section to both produce PGM and chrome concentrates, respectively.
Cautionary Statement Regarding Forward-Looking Information
This news release contains 'forward-looking statements' or 'forward-looking information' (collectively referred to herein as 'forward-looking statements') within the meaning of applicable securities legislation. Such forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'will,' 'plan,' 'intends,' 'may,' 'could,' 'expects,' 'anticipates' and similar expressions. Further disclosure of the risks and uncertainties facing the Company and other forward-looking statements are discussed in the Company's most recent Annual Information Form available under the Company's profile on www.sedarplus.ca.
In particular, this press release contains, without limitation, forward-looking statements pertaining tom amongst other things, our assessment of the scope and impact of the cybersecurity incident and related remedial action and enhancement of the Company's security systems. These forward-looking statements are based on assumptions made by and information currently available to the Company. Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. By their very nature, forward-looking statements involve inherent risks and uncertainties and readers are cautioned not to place undue reliance on these statements as a number of factors could cause actual results to differ materially from the beliefs, plans, objectives, expectations, estimates and intentions expressed in such forward-looking statements. These factors include, but are not limited to, unanticipated problems that may arise in the Company's production processes, commodity prices, lower than expected grades and quantities of resources, need for additional funding and availability of such additional funding on acceptable terms, economic conditions, currency fluctuations, competition and regulations, legal proceedings and risks related to operations in foreign countries.
All forward-looking statements in this news release are expressly qualified in their entirety by this cautionary statement, the 'Cautionary Statement on Forward-Looking Information' section contained in the Company's most recent Management's Discussion and Analysis available under the Company's profile on www.sedarplus.ca. The forward-looking statements in this news release are made as of the date they are given and, except as required by applicable securities laws, the Company disclaims any intention or obligation, and does not undertake, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysian Reserve
a day ago
- Malaysian Reserve
Faruqi & Faruqi Reminds Elevance Health Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 11, 2025
Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $100,000 In Elevance To Contact Him Directly To Discuss Their Options If you suffered losses exceeding $100,000 in Elevance between April 18, 2024 and October 16, 2024 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 20, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Elevance Health, Inc. ('Elevance' or the 'Company') (NYSE: ELV) and reminds investors of the July 11, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that defendants represented to investors that they were closely monitoring cost trends associated with the redetermination process and that the premium rates Elevance was negotiating with states were sufficient to address the risk and cost profiles of those patients staying on Medicaid programs. While Defendants acknowledged that Medicaid expenses were rising, they repeatedly assured investors that this was adequately reflected in the Company's guidance for the year. The truth began to emerge on July 17, 2024, when the Company revealed that it was now 'expecting second-half utilization to increase in Medicaid.' In response to this disclosure, the price of Elevance common stock declined by $32.21 per share, or 5.8%. However, Defendants continued to make false, reassuring statements to investors concerning the extent of the cost increase and how that was accounted for in the Company's full year guidance. The truth was further revealed on October 17, 2024, when Elevance announced its financial results for the third quarter of 2024, revealing that the Company had missed consensus earnings per share ('EPS') expectations for the quarter by $1.33, or 13.7%, 'due to elevated medical costs in [its] Medicaid business.' Elevance further revealed that it was lowering EPS guidance for 2024 from $37.20 to $33.00, or 11.3%, as it expected these Medicaid issues to continue. These disclosures caused the price of Elevance common stock to decline by another $52.61 per share, or 10.6%. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Elevance's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Elevance Health class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Malaysian Reserve
a day ago
- Malaysian Reserve
Faruqi & Faruqi Reminds Red Cat Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of July 21, 2025
If you purchased or acquired securities in Red Cat between March 18, 2022 and January 15, 2025 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] NEW YORK, June 20, 2025 /PRNewswire/ — Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Red Cat Holdings, Inc. ('Red Cat' or the 'Company') (NASDAQ: RCAT) and reminds investors of the July 21, 2025 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. Faruqi & Faruqi is a leading national securities law firm with offices in New York, Pennsylvania, California and Georgia. The firm has recovered hundreds of millions of dollars for investors since its founding in 1995. See As detailed below, the complaint alleges that the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (2) the overall value of the SRR Contract was overstated; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times. In March 2022, Red Cat announced that Teal had been selected by the U.S. Department of Defense's Defense Innovation Unit and the U.S. Army to compete in Tranche 2 of the U.S. Army's Short Range Reconnaissance Program of Record (the 'SRR Program'). The SRR Program is a U.S. Army initiative to provide a small, rucksack-portable sUAS to U.S. Army platoons. At all relevant times, Defendants suggested or otherwise asserted that the SRR Program's Tranche 2 contract (the 'SRR Contract') was worth potentially hundreds of millions to over a billion dollars in contract revenues. In March 2023, Company management confirmed that '[t]he Salt Lake City factory is complete and ready to go' and '[w]e now have the capacity to produce thousands of drones per month.' The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Salt Lake City Facility's production capacity, and Defendants' progress in developing the same, was overstated; (ii) the overall value of the SRR Contract was overstated; and (iii) as a result, Defendants' public statements were materially false and misleading at all relevant times. On July 27, 2023, Red Cat hosted a conference call with investors and analysts to discuss its financial and operating results for its fiscal year 2023. During the call, Defendants revealed that the Salt Lake City Facility could only currently produce 100 drones per month, and that the facility was still being built, refined, and expanded. Red Cat filed an annual report on Form 10-K with the U.S. Securities and Exchange Commission the same day, which likewise reported that construction of the facility was only 'substantially completed' and potentially could reach a production capacity of one thousand drones per month over the next 2 to 3 years, but only with additional capital investments and manufacturing efficiencies realized. Following these disclosures, Red Cat's stock price fell $0.10 per share, or 8.93%, to close at $1.02 per share on July 28, 2023. On September 23, 2024, Red Cat issued a press release announcing its financial and operating results for the first quarter of its fiscal year 2025. Among other results, the Company reported losses per share of $0.17, missing consensus estimates by $0.09, and revenue of $2.8 million, missing consensus estimates by $1.07 million. On a subsequent conference call that Red Cat hosted with investors and analysts the same day to discuss these results, Company management disclosed that Red Cat had spent 'the past four months . . . retooling [the Salt Lake City Facility] and preparing for high volume production[,]' while admitting that a 'pause in manufacturing of Teal 2 and building our Army prototypes impacted Teal 2 sales' because, inter alia, Red Cat 'couldn't produce and sell Teal 2 units[] while retooling [its] factory.' On this news, Red Cat's stock price fell $0.80 per share, or 25.32%, over the following two trading sessions, to close at $2.36 per share on September 25, 2024. On November 19, 2024, Red Cat issued a press release announcing that it had won the SRR Contract. On a subsequent conference call that Red Cat hosted with investors and analysts the same day to discuss the contract win, Defendants continued to assert that the SRR Contract was worth potentially hundreds of millions of dollars, while expressing their confidence that Red Cat could realize up to $50 million to $79.5 million in revenue from the SRR Contract during it fiscal year 2025 alone. Then, on January 16, 2025, Kerrisdale Capital ('Kerrisdale') published a report (the 'Kerrisdale Report') alleging, inter alia, that Defendants had overstated the value of the SRR Contract, which Kerrisdale found was only worth approximately $20 million to $25 million based on U.S. Army budget documents. The Kerrisdale Report also alleged that Defendants had been misleading investors about the Salt Lake City Facility's production capacity for years, while also raising concerns about the timing of executive departures and insider transactions that took place shortly after Red Cat announced it had won the SRR Contract. On this news, Red Cat's stock price fell $2.35 per share, or 21.54%, over the following two trading sessions, to close at $8.56 per share on January 17, 2025. The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not. Faruqi & Faruqi, LLP also encourages anyone with information regarding Red Cat's conduct to contact the firm, including whistleblowers, former employees, shareholders and others. To learn more about the Red Cat class action, go to or call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). Follow us for updates on LinkedIn, on X, or on Facebook. Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP ( Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
Malaysian Reserve
a day ago
- Malaysian Reserve
PRIMARIS REIT ANNOUNCES CLOSING OF $124.3 MILLION BOUGHT DEAL SECONDARY EQUITY OFFERING
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER UNITED STATES WIRE SERVICES/ TORONTO, June 20, 2025 /CNW/ – Primaris Real Estate Investment Trust ('Primaris' or the 'Trust') (TSX: announced today the closing of the previously announced public secondary offering (the 'Secondary Offering') of trust units of Primaris (the 'Units') to a syndicate of underwriters bookrun by RBC Capital Markets and TD Securities Inc., and co-led by Desjardins Capital Markets (the 'Underwriters'), on a bought-deal basis. A total of 8,457,944 Units were sold at a price of $14.70 per Unit pursuant to the Secondary Offering. Under the Secondary Offering, the Underwriters purchased all of the Units held by the selling unitholder, an entity managed by Cadillac Fairview, which were previously issued to it as partial consideration for Primaris' acquisition of Lime Ridge Mall in Hamilton, Ontario. The Trust did not receive any proceeds from the Secondary Offering. The Units were offered in each of the provinces and territories of Canada pursuant to a prospectus supplement dated June 17, 2025 filed under Primaris' short form base shelf prospectus dated August 6, 2024. The terms of the Secondary Offering are described in the prospectus supplement, which is available under the Trust's profile on SEDAR+ at The Units have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the 'U.S. Securities Act') or any state securities law and may not be offered or sold in the United States and, accordingly, may not be offered, sold or delivered, directly or indirectly, in the United States or to, or for the account or benefit of, U.S. Persons except pursuant to an exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Units in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Primaris Real Estate Investment Trust Primaris is Canada's only enclosed shopping centre focused REIT, with ownership interests in leading enclosed shopping centres located in growing Canadian markets. The current portfolio totals 15.0 million square feet, valued at approximately $4.9 billion at Primaris' share. Economies of scale are achieved through its fully internal, vertically integrated, full-service national management platform. Primaris is very well-capitalized and is exceptionally well positioned to take advantage of market opportunities at an extraordinary moment in the evolution of the Canadian retail property landscape. TSX:
